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Posts Tagged ‘rally’

Another analyst capitulates to “fear of being left out”

If this market runs out of bears, I think it's in trouble. And today one of the market's few remaining bears capitulated to the rally. Wells Fargo’s head of equity strategy Christopher Harvey hiked his year-end price target for the Standard & Poor's 500 Index to 3,088 from 2,665. The index closed at 2,983 on […]

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Amazon signals slowdown ahead; Wall Street doesn’t believe it

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It’s a FOMO market

"Fear of missing out" is driving this stage of the market rally. Fund managers were under allocated to equities at the start of the year and are now playing catch-up with the indexes. And since the consensus is that the Federal Reserve has the market's back, there's very little fear that playing catch up now […]

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Durables orders good for stocks and economy

Orders for durable goods rose 0.4% in January, the Census Bureau reported this morning. Economists surveyed by Briefing.com had projected a 0.6% decrease. Ex-transportation new orders, which means excluding volatile aircraft orders (for January remember and therefore this doesn't include the effects of the recent Boeing 737 Max crash), fell 0.1% against projections for a […]

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Market tested 2800 again yesterday–new highs ahead or back to the box?

The Standard & Poor's 500 fitted with 2800 again before closing at 2791.52. That certainly puts the index within striking range of 2800 again--but in 2019 the market has shied away from breaking and holding the level. So consider this another test--until stocks prove otherwise. Not so long ago, you'll remember we tested downside support […]

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Trick or trend: Portfolio concentration is getting more concentrated

Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Saturday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. At hedge funds, the top 10 holdings made up 70% on average of a funds […]

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The Fed capitulated today, the market believes: Did the Fed intend to send that message?

It's hard for me to see the Federal Reserve's statement today after the meeting of the Open Market Committee, and then Fed chair Jerome Powell's presentation at the most-meeting press conference, as anything other than capitulation to the financial markets. Back in December the markets pitched a fit at the idea that the Fed might […]

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Stock market heard what it wanted to hear from the Fed

Today the Federal Reserve's Open Market Committee said it will The Federal Reserve said it will be “patient” on any future interest-rate increases. moves. And it will be flexible and  “prepared to adjust any of the details for completing balance sheet normalization in light of economic and financial developments.” The stock market heard "patient" to mean […]

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“Lower guidance” a theme for tech earnings this afternoon

Most of the major U.S. stock indexes clawed their way back into the green after a mid-day journey into the red. The Standard & Poor's 500, for example, closed the day up 0.22% (at 2638) from the Tuesday close. But that was still below the 2641 the index began trading at this morning. U.S. stocks […]

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Today it’s a battle between positive earnings and negative China trade sentiment

And, as of 12:30 p.m. New York time, negative trade sentiment was winning. The day started off with positive earnings reports--earnings beats and positive guidance--from IBM (IBM), Procter & Gamble (PG), and United Technologies (UTX). In premarket trading the three were up 7%, 4.3%, and 4.9%, respectively. (All three stocks are members of the Dow […]

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