Today. This time dow industrial rising. Nasdaq at 28. 1 . These were all miraculous record closed by the way. Where did that momentum come from momentum is a tricky thing i can tell the market is on fire because employment is red hot. We know adp, at least incredibly strong numbers the Labor Department will give us a positive non farm payroll report tomorrow. I can tell you people are buying stocks, good feelings, breaking up with u. S. And china thanks to phase one trade deal chinese seems to be placing large orders with american business, dont you think . There is just one problem. I am not buying that these i am not just pushing these medical forces i think theyre not the force of todays market momentum. Why . Well, because momentum is what happens when a stock keeps worrying for emotional reasons and not financial reasons. A stock that goes higher because buyers went in at any price, that my friend is momentum now especially i like it when stocks rally i am not a fan of momentum bu
This years no different while the averages got hit and dow dipped 120, and the nasdaq only slipping three basis points, in fact, the nasdaq, though, is up more than a percent for the year while the other averages are barely positive and the tech part of the index which is what im focusing on tonight is pretty much on fire yep, today we saw remarkable moves and all sorts of tech stocks after analyst after analyst issued bullish recommendations that reverberated throughout the whole sector pit action this is a special time when the analysts survey their universe and make predictions so far the predictions have been positive as they pretty much are every year but why not theres plenty to like better than expected quarter from a company that you probably never heard of called microchip bolsters a host of semiconductor stock, Analog Devices with a big upgrade. Both of those companies are seeing Strong Demand you always have to buy these stocks coming off the bottom thats what ive been telli
Season jpmorgan crushes estimates, citi and wells are mixed ahead of the open. Plus sustainability is becoming the new standard, blackrock ceo saying the Climate Crisis is about to trigger fundamental reshaping of finance. And the tesla rally rolls on shares now up more than 100 in the past three months alone. Well start with bank earning, jpm, chase, citi, each posting better than expected results. Wells fargo shares moving lower on its miss. New ceo charlie sharp our cost structure is too high and i believe there are many areas where we will be able to increase our rate of growth. Efficiency really the story on wells, jim well, i got to tell you, im a total believer in Charlie Scharf and what he did at visa hes the most technologically inclined ceo in the bank group it has the most opportunity after this washout it is a washout. I dont think charlie will waste any more time. He has to address these things and he will. In the meantime, jamie diamond, what can i say about jpmorgan . It
Terminology and the wall street gibberish that makes the whole process seem really impenetrable there is an entire industry of people earn their living by doing the opposite of that they want you convinced that investing is too hard, that regular people just cant do it. The safest thing is to give your money to a professional or stick it in an index fund. The truth is thats the right call for many of you and everyone should have some index fund exposure. I believe you can manage some of the money as well as the pros. The truth is many of the professionals really say theyre focused on getting your fees theyre more interested in taking your money than making you money. And thats a lot easier if they can keep you ignorant about the market theyre kind of like the the wizard of oz. They dont want you peeking at the man behind the curtain they dont want you to understand, because maybe if you did, youd take control of your finances, pick your own stocks and not pay someone else potentially e
Trade deal and the market soars the dow gaining 221 points s p climbing. 86 and the nasdaq. 73 . What do we say hello . Hallelujah i dont mean to trivialize the importance of this news. It matters it does matter President Trump trump stock, trump stock. Might be able to reduce the tariffs with the chinese by 50 , or cancelling or forestalling the tariff hikes that were supposed to go into effect this week that would have affected a lot of consumers china is willing to make some major agricultural purchases while doing a better job of enforcing u. S. Intellectual Property Rights and maybe opening up their market, specifically to the services and especially the Financial Services industry. And thats a big deal. But, and this is the worlds biggest but, the days when a china deal could control the fate of the whole stock market are long gone, even as we act as if its all that matters initially the market reacted to the tariffs as they were going to cause a worldwide recession this whole de