Now the Dow is firmly leading the major indices, that's not very bullish. Dow at its high of the morning, and the Nasdaq near its lows. Best hope for the bulls is another flipflop, and get a sideways trading day.
NFLX down around 4% after earnings Netflix misses subscriber forecasts, warns password crackdown will hit U.S. in Q2 (yahoo.com) Also warned the password crackdown will start soon in the US, be prepared to pay for your own subscriptions lol
NFLX was down -12% at one point, and now it is all the way back to flat. Earnings interview in about 69 minutes. Also, just heard they will end the DVD mailing, the red envelopes, after 25 years.
I was surprised to find out it was still going. I can't remember the last time I had a DVD player, or a disc drive in my computer. I remember back in the days (of piracy), that you NEEDED a CD-RW drive.
When I see market conditions like this, with precious metals and stocks going up in tandem, it makes me suspect that the stock market is being buoyed by the huge oversupply of money that the Fed poured in over the past several/many years. I am certainly NOT convinced that the continued rise of precious metals is due to "likelihood of increased industrial demand". What was one of the primary causes of the Great Depression? Everybody and his/her brother and sister were investing the stock market, causing a surge in demand and prices. These days, everybody and their brother and sister are feeding the markets with 401ks, 403bs and IRAs. I'm not predicting another depression or a big crash. I'm just saying that this economy and the stock markets are built on a house of cards, held together with a huge money supply that is several times larger than it would be if sane, prudent and responsible people had been making the money supply decisions over the past 15+ years.
Thinking we get a pullback from here. Would have liked to see the summation index go straight to +1000, but the VIX is already at its lowest point in more than a year.
Yeah LRCX reporting after the bell too, I don't know if they have released anything yet but shares are slightly down AH
QT probably has slowed due to the banking crisis in March too So yeah I think the excessive money supply is part of the reason why this market is still holding up pretty well.
NVDA still near its 52 week highs despite most other semi stocks are coming off from their recent highs
Early this year I was picking up what I considered some stocks that were undervalued. Currently I see a stock market that is entering a troubled period. While tech and some other sectors may do marginally well, I think the banking system will have problems mid this year. Those problems will be mainly centered in commercial lending renewals and increased rates. Any further increase in rates will make the problem worse. Looking for a good end to the year in stocks, but too soon to tell yet.
Yeah they are benefiting from the lower bond yields it seems like Got in MTH at the beginning of the year at $93.27 and now it is at $127.31, nice run for far for the homebuilders indeed.
Wall Street Is Getting a New Fear Gauge. Meet the One-Day VIX Cboe plans to launch a one-day version of VIX Index on Monday Angst has grown over VIX effectiveness in zero-day options era Since the VIX is calculated using derivatives that expire 23 to 37 days into the future, the thinking is that it has been struggling to capture this near-term sentiment, which largely emerged last year when the introduction of new expiration days fomented the boom. https://archive.is/wRuWA I can't copy/paste right now so you're going to have to click the link to get any more details.
Speaking of CBOE, the stock hit a new ATH today I have shares of ICE and NDAQ but will keep an eye on CBOE, a decent investment I would think
The market is getting a little boring lately, let's see if the tech earnings this week will bring some volatility back
Just some of the many earnings this morning. McDONALD'S REPORTS FIRST QUARTER 2023 RESULTS (MCD) Novartis delivers strong sales growth, robust margin expansion and major innovation milestones. (NVS) UPS Releases 1Q 2023 Earnings (UPS) Verizon begins 2023 with rapid network expansion and the most broadband additions in over a decade (VZ) Raytheon Technologies Reports Q1 2023 Results (RTX) Fiserv Reports First Quarter 2023 Results (FISV) The Sherwin-Williams Company Reports 2023 First Quarter Financial Results (SHW) 3M Reports First-Quarter 2023 Results; (MMM) GM Releases 2023 First-Quarter Results and Raises Full-Year Guidance (GM) Kimberly-Clark Announces First Quarter 2023 Results (KMB) ADM Reports First Quarter Earnings per Share of $2.12, $2.09 on an Adjusted Basis (ADM) GE HealthCare Reports First Quarter 2023 Financial Results (GEHC) Danaher Reports First Quarter 2023 Results (DHR) Halliburton Announces First Quarter 2023 Results (HAL) Spotify Technology S.A. Releases Financial Results for First Quarter 2023 (SPOT) JetBlue Announces First Quarter 2023 Results (JBLU) Tenet Reports First Quarter 2023 Results (THC) PACCAR Achieves Excellent Financial Performance (PCAR) Sensata Technologies Reports First Quarter 2023 Financial Results (ST)
