Market going and certainly in the near term. In the near term were in a vacuum of news, right . We do get the jpmorgan conference next week so that will be west healthcare and then we have to wait for earnings what ive been doing is ive been looking at companies where fundamentals are still very strong or improving and evaluations are still somewhat attractive the market as a whole is fairly valued a lot of stocks are actually outright expensive so ive been picking very small because i still want cash for earnings and thats still my playbook im picking very small dogs of the dawe strategy. Goldman sachs was adding to that last month i add to a couple of other names today. Chevron has been a name. Intel has been a name, and so i think the calls today that a lot of analysts are making are trying to pick a couple of different names because it is a stock market at this point. Disney up to buy at rosenblatt and utx upgraded or amex initiated with a buy. Ibm outperform and nike outperform Un
Many of them sure seemed to have developed some pep in their step today. A day where the dow gained 26 points, ninth Straight Record high s p advanced 1. 6 , first record close since july 26. And the nasdaq climbed 0. 51 [ applause ] for the past couple of weeks, the dow jones average has captivated people throughout the country as it lunged through 22,000 level like it was childs play at the same time, the Growth Technology stocks, like f. A. N. G. , have been under pressure, with lot theorizing its game forever author these allegedly overvalued companies of course, the tech bears are not all that original. Boo the narrative for this decline is always the same when the has dnasdaq peaked in h of 2000, lots of money flowed out of tech. All of the same old school stocks that people revert to when the tide goes out and the hyper Growth Stocks are revealed to be frothy and expensive but i love historical analogies as much as the next guy, im always trying to find patterns but history does
20,000 is in our grasp and the nasdaq, which has been red hot lately, has been led by the biotechs . While the market ultimately finished higher, dow giening 99 points, s p claiming 0. 28 , the averages, the averages got clobbered midday after the president elect held a press conference where he called for more price Competition Among the Drug Companies. Thats the exact group that had been powering the markets most recent leg up. It was a stark reminder that even though trumps probusiness, that doesnt mean hes pro every business. In some cases, he can be a oneman wrecking crew for entire sectors. Later, the market did regain its footing with techs leading the way. But after today, we have to remember that this rally is based more on his big picture agenda, the tripod of lower corporate taxes, repatriation of foreign assets and deregulation. In the interim, though, there are these knot knotty issues that trump doesnt take any prisoners when hes made up his mind just as hes been able to
Sipping. 6 . But for the quarter, the dow rallied 900 points, the s p climbed 5. 53 , and nasdaq polevaulted 9. 82 . You can debate whether thats all on trump, something i find hard to believe because so many of the worlds stock markets were equally strong, stronger than ours. But once again, the negative nancys just got it plain wrong, and many of the gainers were something that was totally accessible to you home gamers, even with those guys that are trying to get in your head, im talking about apple, amazon and facebook facing alltime highs. Trumps too erratic to get things done. The markets gotten to expensive, a vicious trade war is about to break out and the feds now against the bulls. I say get used to these arguments. Theyll probably be with us all year. Just remember what this market, though, was able to accomplish despite these very powerful arguments and perhaps keep that in mind as the beginning of is Second Quarter sets in. With that out of the way, what well be looking at
Welcome with bei, everybody power lunch. Glad you could be with us on this rainy thursday. Im tyler mathisen. Stacks hi stocks higher today after yesterdays midday swoon. Heres a nice stat. Four dow stocks have gained more than 10 this year. Apple, boeing, visa and home depot. Those names are mixed in todays session. Twitter under some pressure on news that one of the companys founders, evan williams, is selling 30 of his shares. There you see that chart reacting, in part, to that news. Home builders, a notable standout. Home builder etf, hxb, having its best day in about a months time, since march 15th. Im michelle carusocabrera. Heres what else is happening at this hour. Devin nunes temporarily stepping aside from the house committees Intelligence Committee after the House Ethics Committee announced it was investigating mr. Nunes for possibly disclosing classified information. Representative nunes calls those charges entirely false. Jobless claims falling by 25,0 25,000 last week, th