And for stock investors all around the globe, virtually no matter the market you were in, you made money this past year. Sometimes lots of it. Here in the u. S. , the major indexes set records seemingly evy week. The dow and nasdaq had 71 and 72 record alltime high closes respectively. No other year comes close. The s p 500 had 62. And those records led to numbers like these for 2017. The dow up 25 . The nasdaq, 28. And the s p 500, 19 . We delved a lip and h and found some surprises in those numbers. If youre worried these outsized results may indicate an overheated market, youre entitled to feel that way. But consider this. Going back to the reagan administrati that began in 1981, none, none of these gaudy percentage gains even rank in the top five year by year. This years dow comes the closest. Sixth best year since 81. This wasnt even the dows best decade, 2013 was, up 26. 5 . It was, believe it or not, an eerily calm year in the market. 2015 and 16 combined saw the s p 500 move 1
Opened up 250 points. Its not that i want stocks to go lower. You know that. I just hate it when people buy stocks up huge and then get picked off by a gigantic move that should never have occurred. As the average gave up almost all of their gains, closing up 33 points. The s p climbing 3. 2 . Nasdaq advancing just 0. 62 . The severe retreat made much more sense to me than the up opening because it was based on nothing that has happened here. And therefore zero staying power during the day. I get upset when i see that were taking our cue from the chinese stock market. And when they rally, we open higher . Well, the sellers come in knowing they have been given a gift, the gift of higher prices for all stocks. A gift that is frankly undeserved. The only difference this time we had to be wear of chinese bearing gifts, not just the grifts. Its this infuriating setup with the dollar and Interest Rates were going higher. We know that those are both poison to stocks. Well stocks were still cl
The street. Hopes on greece fueling another big up day, not to mention another up day in china overnight. Bob pisani is at the nyse. Right now theyre holding, 21 advancing to declining stocks. The s p 500, really all the gains were frankly overnight around 3 00 when we got word that a deal was in the making. At that time s p futures moved 15 points. We have held most of the gains from the open. Tech Consumer Discretionary materials and industry good day for techs. Facebook set a new high. Buvlg bunch of tech stocks hitting 52 week highs. The greek etf everybody watches was positive and moved into negative territory. Largely the belief that it is going to be a tough sell for tsipras and this deal is a long long way from being done. More on that in a moment. Metals and mining have been strong. This is a separate story because china rallying in the last several doors has put a floor under these stocks. The steel stocks all the mining stocks are up again today. Whats not participating is s
Constructed right under his cell. El chapo took a shower punched a hole in the tunnel and rode to freedom on a motorcycle. That did not sit well with donald trump. He says if they cant keep their bad guys in mexico we shouldnt be sending them 3 billion in aid a year. A developing story for you, apple is working on a selfhealing iphone screen. See how fascinating the news is . Just wait Varney Company is about to begin. The a the risk of repeating myself. Here it is greece is not a done deal. The greek government has to approve what voters disapproved up just ten days ago. Pension cuts tax increases, massive reform of the labor market. Ashley webster has been in athens about two weeks now. I want to know the situation on the ground. Are the banks open . Well, its a good question stuart. Im a Greek National now and ive got my citizenship and i can tell you the banks are not open. We heard from the greek financial minister this morning who said the bank holiday continues. Its a nice way o
And usa today confirmed it this morning. With the terrific story about the acronym that stands for facebook, amazon, netflix and google. My selfstyled shorthand for whats working in this stock market. But on another vicious day where the dow tumbled 128 points. S p sank and the nasdaq plunged nearly a percent, while f. A. N. G. Represents a nice respite from the world, f. A. N. G. s leadership happens to be terrible for the rest of the market. Thats right. I want people to know loud and clear that f. A. N. G. The isolation of a handful of stocks that can power higher and spurts we havent seen in ages is a bad thing. Boo not a good thing. For stocks in general. And the market overall. Sell sell sell. First, understand that mutual fund and Hedge Fund Managers are looking for growth. Right now the funnel for growth seems to grow smaller by the day. Which sends the proven storm to the ones with the best prospects higher than theyd go. Longing for growth is like rocket fuel for f. A. N. G.