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That old paradigm of political gridlock coupled with slow growth and, most importantly, cynicism. Cynicism, which also combined to produce hohum parks like today. Dow spliping seven points. S p inched up 0. 19 . Nasdaq advanced 0. 48 even after days of declines concluding with yesterdays crescendo of selling. Worst day of 2017. Now, look, ive been adamant, and you know that if youve watched this show, that this rally hasnt just been about the power of donald j. Trump to effect change in washington. I think the optimism that the president s created in the Business World through his endless projobs, antiregulation drum beat and rhetoric has been far more important for stocks than anything related to actual legislation in congress. Yep, the positive implications of deregulation coupled with better than expected profits have been the real impetus for the run. All that said, i totally recognize that my view is distinctly in the minorit ....
And thats whats driving the stocks of so many Big IndustrialCompanies Higher even as others sell off in a bizarre confluence of good and bad news thats mirrored in todays action with the dow struggling to stay positive, up just two points. S p dipping 0. 26 and the nasdaq getting crushed, down 1. 05 . In the last 24 hours, president elect trump has announced a bunch of probusiness cabinet picks while to spare jobs that would otherwise be lost to mexico. The result is that the markets anointing a whole new group of stocks, rotating into them while slaughtering others. So i want to explain why thats happening and how you can profit from it. So lets trace the narrative. First the picks trump announced today, Steve Mnuchin as treasury secretary, wilbur ross as commerce secretary, sent a huge message. People who are probusi ....
Getting you more prepared if the fed decides to take action this month. You can protect yourself with a little more cash than you currently have, but not anything wholesale, not anything dramatic. I am not in favor of that. If anything, i suggest you stay the court if youre a home gamer. I want to explain to you why i feel were facing a decline of moderate proportions, one worth riding through if you can stomach it. Only the super nimble need to take action on what im about to tell you. Let me explain to you how i envision the risk reward versus some of the other declines weve seen in the last eight years. We have had several major selloffs during that period, and each one has had its own coloration. But only one was worth selling a majority if not all of your holdings into. The actual decline that cut the averages pretty much in half. Yes, the Great Recession decline. Thats the tremendous one that occurred when so many of our in ....
Lets have a look at u. S. Equity futures this morning. Were on track to snap a sixweek winning streak. Weve had a bit of red this week. Not in pronounced a fashion. Low volumes and low conviction, really. But were looking to continue that today. The dow called lower by 24 points. The s p by 5 1 2. The nasdaq by 13. Even if i day say low conviction just there, the move in the u. S. Ten year yesterday did show some risk aversion. We did see some buying of the bond, pushing the yield on the u. S. Ten year down. Were currently at 1. 87 . That slide in oil impacting the market. Economic data and fed speak front and center this morning ahead of a threeday weekend. First up, weekly jobless claims and february durable goods. Orders are forecast to have dropped by about 3 last month following a big gain in january. The markets are closed for good friday tomorrow, but the government is still going to be releasing the final revision to Fourth Qu ....