President s or Interest Rates or macro concerns, control their own destinies. Today we got some decent numbers from some major banks, and they cast a rosy glow over much of the session until some lateday profittaking came in and the bulls nemesis, oil, turned down. With the dow ultimately dipping five points, s p advancing just 0. 18 , but the nasdaq gaining 0. 48 to still one more alltime record. Who is in the playoffs next week . Lets start with tuesday since the markets are indeed closed for mlk day. Before the open, we hear from Morgan Stanley and united health. I like them both. I think Morgan Stanley can report a clean, Strong Quarter although i dont know if the reaction will be as positive as the other banks. In large part because theres investor enthusiasm for the deregulation agenda of president elect trump and Morgan Stanley has already withdrawn from some of the areas that had gotten overregulated. Still i think this franchise is undervalued even at its 52 week high. If youv
Could take us higher. What else is new . You could tell by the way its news from overseas that drives thing. If you go to bed at 11 00 p. M. When the futures arent doing much at all and you wake up at 3 00 a. M. And theyre flying, thats a sign that somewhere some place we got some good news at last. You can tweet me if you keep this schedule as i do and ill retweet you for certain. We got two pieces of good news from the same unlikely place china. First we learned that the chinese economy is worse than expected wait a minute. Manufacturing the lowest level in seven years which is the last time that the chinese got serious about taking a great leap forward with their economy. Now they meet saturday and with the weak numbers as the stars are aligned for the biggest stimulus package yet, the year of the monkey, i think theyll put more money to work than people think. China can turn, its done its who know, maybe we will get some meaningful stimulus. At the very least the lousy chinese manu
Much at all and you wake up at 3 00 a. M. And theyre flying, thats a sign that somewhere some place we got some good news at last. You can tweet me if you keep this schedule as i do and ill retweet you for certain. We got two pieces of good news from the same unlikely place china. First we learned that the chinese economy is worse than expected wait a minute. Manufacturing the lowest level in seven years which is the last time that the chinese got serious about taking a great leap forward with their economy. Now they meet saturday and with the weak numbers as the stars are aligned for the biggest stimulus package yet, the year of the monkey, i think theyll put more money to work than people think. China can turn, its done its before. Who know, maybe we will get some at the very least the lousy chinese manufacturing numbers sure turned the stock market around over there which went from black, and as the session proceeded. Far more important, we have a shockingly dovish speech from bill
Time that the chinese got serious about taking a great leap forward with their economy. Now they meet saturday and with the weak numbers as the stars are aligned for the biggest stimulus package yet, the year of the monkey, i think theyll put more money to work than people think. China can turn, its done its before. Who know, maybe we will get some meaningful stimulus. At the very least the lousy chinese manufacturing numbers sure turned the stock market around over there which went from black, and as the session proceeded. Far more important, we have a shockingly dovish speech from bill dudley. Hes the new york fed president who caused a recent selloff by denying anything had gotten weaker since the rate hike. He set off a firestorm including here with yours truly when he said it was all systems go with the rate hikes because last night he gave a speech in china, on balance im less confident than i was before end quote about the economy. Part of this reflects my assessment that uncert
And nasdaq up 2. 89 . First, like many of the super bullish days its beginning before many wake up. We got news from overseas that pointed us this the path that could take us higher. What else is new . You could tell by the way its news from overseas that drives thing. If you go to bed at 11 00 p. M. When the futures arent doing much at all and you wake up at 3 00 a. M. And theyre flying, thats a sign that somewhere some place we got some good news at last. You can tweet me if you keep this schedule as i do and ill retweet you for certain. We got two pieces of good news from the same unlikely place china. First we learned that the chinese economy is worse than expected wait a minute. Manufacturing the lowest level in seven years which is the last time that the chinese got serious about taking a great leap forward with their economy. The weak numbers as the stars are aligned for the biggest stimulus package yet, the year of the monkey, i think theyll put more money to work than people t