No chit chat. I stay focused. Since this is when the fundamentals really come to the fore and direct the overall direction of the market like today where the dow gained 29 points. Nasdaq advanced 0. 02 . Unfortunately its not all earnings weve got to deal with next week. Whats your game plan . Let me show you mine. Ive been saying that the fed is prepping us right now for a december rate hike, a big reason why this market cant get out of its own way and feels so sloppy. More on that later. Now, fed vice chairman Stanley Fisher will speak monday, and hes been a major rate hike proponent. I bet his new speech will cause this market to get hit. Hes hurt stocks virtually ever time hes opened his mouth in 2016. But fishers words will help some stocks, notably the banks, and bank of america reports on morning. The stock has been advancing of late, was up nicely today. Even though its still dirt cheap, i have to wonder if bank of america has gotten ahead of itself thanks to the excellent earn
Nasdaq advanced 0. 02 . Unfortunately its not all earnings weve got to deal with next week. So whats your game plan . Let me show you mine. Ive been saying that the fed is prepping us right now for a december rate hike, a big reason why this market cant get out of its own way and feels so sloppy. More on that later. Now, fed vice chairman Stanley Fischer will speak monday, and hes been a major rate hike proponent. I bet his new speech will cause this market to get hit. Hes hurt stocks virtually every time hes opened his mouth in 2016. But fischers words will inevitably help some stocks, notably the banks, which benefit from higher rates, and bank of america reports monday morning. The stock has been advancing of late, was up nicely today. Even though its still dirt cheap, i have to wonder if bank of america has gotten ahead of itself thanks to the excellent earnings today from jpmorgan and citigroup. Some terrific pin action in all the banks today. If bank of america gets hit, it might
Unfortunately its not all earnings weve got to deal with next week. So whats your game plan . Let me show you mine. Ive been saying that the fed is prepping us right now for a december rate hike, a big reason why this market cant get out of its own way and feels so sloppy. More on that later. Now, fed vice chairman Stanley Fischer will speak monday, and hes been a major rate hike proponent. I bet his new speech will cause this market to get hit. Time hes opened his mouth in 2016. But fischers words will inevitably help some stocks, notably the banks, which benefit from higher rates, and bank of america reports monday morning. The stock has been advancing of late, was up nicely today. Even though its still dirt cheap, i have to wonder if bank of america has gotten ahead of itself thanks to the excellent earnings today from jpmorgan and citigroup. Some terrific pin action in all the banks today. If bank of america gets hit, it might be the perfect way to play that rate hike that does com
We kick about the days were Financial Companies take massive ricks risk. We cannot afford that. The country cant afford it. The middle class cannot afford it. We need to ensure that the executive compensation does not go back to encourage executive risktaking and shortterm is him. I talked about stock buybacks with publicly traded companies, how ceos dont have the incentive to go for the future, but rather swing for the fences today. Theyre not bad guys are women. The process incentivize action. This tended in 1980 when president reagan made it easier for company to buy back stock close to share prices. We need to change this as well. Need the rules created by. Frank by dodd frank. We also need to continue to address the threat posed by bottomless shortterm debt. As evidenced by recent concerns steptail banks, we have to up our monitoring and enforcement activities. Look at wells fargo. The justice department, i cannot speak to it because i dont talk to them. They are reviewing whether
Ugly at the moment, but you can also throw tech and Energy Stocks in there as well. All of them are leading these major indexes lower. This after europe sold off in a big way early this morning when many of you were asleep. The s p 500 at this moment is looking very weak, down 467 points 46 points, thats a 2. 5 loss, on track for the lowest close in nearly two years. The nasdaq is getting smashed any way you look at it, trading at its lowest levels since october of not 2015, but 2014. Todays selloff follows a hammering last week that culminated in paper losses of some 800 billion for a lot of you out there combined. Now, you cannot only blame oil on this, but we should tell you once again it is one of the catalysts for a lot of the negativity here, dipping below 30 a barrel in the aftermarket session. Were till there, six cents below 30 a barrel at the moment, but wait until you see the screaming signals were about to show you from bank stocks to treasury yields. Weve got it all covere