States right now in washington, fragile hopes for a stimulus deal remain Speaker Pelosi and secretary treasurer mnuchin are expected to talk this afternoon in hopes of getting a deal done. A full economic recovery has a long way to go and another expert said many lost jobs may not come back. All 11 s p sectors are lower 59 minutes to go we are making new session lows with the dow down 400 points. Lets get to the market downturn we just referenced. Mike santoli is tracking all of the action no trigger but a clear response. The only trigger that seems clear at all is the mark of 2 30 eastern time, when the downturn accelerated. It seems as if it is essentially kind of getting ahead of the close, peeling down exposure we did have that good rebound into last week from the late september lows we had some positioning indicators suggesting people were full up on equity there has been a pattern of strength overnight in equity futures opening up strong and selling throughout the day it seems li
Adobe. And were off to the races without any real worry about last minute status of darn tax bill which is looking more and more likely that it will become law next thing you know, the dow rockets 143 points nasdaq,. 9 . Nasdaq pole vaults up 1. 17 . It is easy, isnt it look, we dont even know what is going to happen in washington. But as i told you last night, were in the torpedos full speed ahead moment i am telling you, its underrated by everybody. Corporate earnings witness the pin action from costco and adobe so while the specter of washington haunts the market bad, they cant stop the averages from going higher will it continue since earnings are really in charge here despite you think it may be the tax cut, i went over the last day cut it, raise it it doesnt matter. What matters is earnings lets go right to next weeks game plan. The big competition in stocks is bonds. Let me put this scene setter here obviously on monday we want to see what happens to that tax bill we also get so
Been a good week for the markets. If youre long, the markets are rebounding dramatically from the lows that we saw made up almost 60, 70 of the losses that we saw in the s p. European markets have also had what you might expect, a good week also. This morning no exception. Green across the board tenyear yield note has been a focus. Today didnt care down 2. 86. Theres a look at wti back above back above 60 solidly this morning yeah. All right lets get to our roadmap this morning. It does start with the market comeback two weeks since the selling began, and as we just said, stocks have been seeing what was one of the best weeks in years plus, well, the negotiation kind of continues broadcoms response to the meeting with qualcomm or qualcomms response to its meeting with broadcom signaling a deal well, is there one to be done . Were going to give you all the analysis on why thats probably not the case and a busy morning for consumer earnings. Numbers from newell, coke, kraft, campbells so
Scout Investments Inc. cut its holdings in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 19.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210,436 shares of the utilities provider’s stock after selling 49,863 shares during the quarter. Scout Investments […]
Gabelli Funds LLC reduced its holdings in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 3.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 685,970 shares of the utilities provider’s stock after selling 25,230 shares during the quarter. Gabelli Funds LLC’s holdings in […]