Yarn about a letter hidden in plain sight that nevertheless cant be detected because people just arent looking for it in the right places. We see the same thing happens with this market pretty much every day now. Great bull stories passing unnoticed right in front of your eyes. Today was no different. Even as the dow dipped 16 points, s p declined 0. 16 , nasdaq actually closed up albeit fractionally. Let me give you some classic examples. When investors try to figure out why stocks should go up, they begin with the presumption that the United States is a service economy. Since twothirds of our Gross Domestic Product depends on individual spending. But heres the problem. The big time portfolio managers, they dont see any real strength in consumer spending. They dont see it with all the retail store they follow. They dont see it at the restaurants they cover. They dont see it in the home sales. They dont see it in the shopping center, shopping mall, or strip Mall Real Estate investment
European equities on that historic day for the uk. We were just talking about this, the ftse 100 almost 6700. This index has recaptured its prebrexit highs and then some. The german dax still lagging. Italys might s mib is lower. Spains i bex is higher. There has been so much action lately. The euro hanging in there about 1. 10. The yen has been weakening again of course after the elections and bernankes trip and whether or not theres going to be helicopter money. Finally a check on crude oil. Yesterday the rally did the traders on the floor contribute to the rally we saw in stocks broadly. Energy one of the best performers. Today its moving the other way. Wti and brent lower. Which is by the way the best performer of the year. Up nearly 1 again at 2. 75. Todays economic agenda. Followed by the monthly federal budget and beige book. Kaplan and harker are speaking today as well. Young brands report earnings. Two prominent members of the fed making comments. Neel kashkari saying it isnt
Major auto dealer. Energy is one of the biggest losers with oil falling again. Its entering bear market territory. Well talk what impact this could have on the broad market coming up. Plus this is very interesting, the ceo of one of the hottest and most anticipated biotech ipos of the year, the company is looking to take on genetic diseases with its so called Gene Editing Technology. Well talk with the ceo coming up. After the bell its all those earnings you mentioned, alphabet, amazon, well bring you instant analysis as soon as they cross, especially after facebook and ford. Theres so much riding on how these companies do. Lets start with the earnings season hitting the halfway mark. Bob looks at the highlights of the first half and what we can look for in the second half. Important thing, bill, is we are Getting Better. The bad news is were not Getting Better very fast. Lets look at the score card. 55 of the s p 500 reporting were down 2. 8 . Earnings on average down 2. 8 . Thats bet
Netflix, alphabet. All this happening as soft economic continues to pour in. Could Growth Stocks be your best bet right now . Guy . I dont know if Growth Stocks are your best bet. Let eat taos about these four names now. Across the board, weve all liked facebook, but weve been unanimous on our love. Dan shaking his head no and hell tell you its a little too rich on valuation. But i think the world wily find ourselves in currently lends itself to facebook. Number one is facebook. Netflix, downgraded the name. Another says the original con is underappreciated. Last time the stock report ed, t cratered, but held 95. Its traded well since. I think net flick felix has some well. Google, not sold on it either way and amazon again is ridiculously valued, but you cant argue with the price. Netflix is the only stock in there that doesnt have a motor. For now, the very high, top of the valuation bb absurd. I think were out of place here, seeing saturation in the core market. Seeing International
On a day like today where the dow sank 130 points. Nasdaq lost 1. 3 . My nonpoetic logic helps you Stay Grounded and thinking about what matters if you want to make money in the stock market. Lets think about the process of buying stocks. We have very big trends going the way of the bulls. They dont go that way every day. Oils going higher. China is bottoming. And the dollar is getting weaker. Allowing companies to raise their numbers when they give us a forecast. The stock market gave up some of its recent gains. Have the themes gone away . They vanished. We got a number out of china. Didnt fit the positive thesis. Theres been much too much positive data out of china lately for me to jump ship. Oil it got clogged today. Thats because opec increased production last month. Irans back online. Im surprised opec isnt producing far more oil than this. Why . Because right now demand in china and the u. S. Is picking up. Supply is dropping more quickly than most people think. The bankruptcy n