Adding Boeing to Jubak Picks on weak dollar, strong global economy, tax cuts
Shares of Boeing (BA) have tumbled from $351.01 on January 17 to close at $334.69 today. I'm using the pull back to add shares to my Jubak Picks portfolio tomorrow, January 25. The Boeing story right now is one of multiple tailwinds pushing the stock higher. A weak...Adding Caterpillar to my Jubak Picks and Volatility Portfolios ahead of earnings tomorrow
Caterpillar (CAT) looks to be a major beneficiary of the lower tax rates in the Tax Cuts & Jobs Act and for a lower U.S. dollar. (See today's Morning Briefing on the lower dollar.) Not that Caterpillar sales are exactly struggling. The company reported today a 34%...Trump administration pushes a weak dollar at Davos
Treasury Secretary Steve Mnuchin gave the markets a green light to push the U.S. dollar lower in remarks at Davos. Currency traders, already on board the lower-dollar train, didn’t waste time before pushing the throttle. The Dollar Spot Index (DXY) is down 0.86% as of noon New York time to 89.347. Traders have been eyeing the 90 level on the index to see whether support would hold at this level or if the index would break below 90 and set up a move lower.
A weak dollar drives this rally to Day 5
The cause of the rally is pretty simple: With the weaker than expected jobs numbers for September the market has adopted the view that the Federal Reserve won’t raise interest rates until March 2016 at the earliest. The possibility of an October interest rate increase is now almost completely off the table as far as the market is concerned