Good morning! Happy 9-year anniversary to the bull market today. Here is the video that I had captured and uploaded to Youtube some years ago to take you back to that day: This is now the second largest (nearly quadrupled on a total return basis) and second longest (9 years) bull market since World War II, with only the raging 90s bull standing in its way. Happy 9th birthday Mr. Bull.
Banks and tech doing pretty well while utilities and healthcare not doing so well. Gold is having a good day on weaker dollar.
ADP tomorrow and the jobs report this Friday. Will be interesting to see how the interest rates and the dollar will react to the report. I am guessing that the trade war concern probably will keep interest rates from popping too hard even if we get a strong report
BREAKING: Top Trump economic adviser Gary Cohn leaving White House after dispute over trade. https://mobile.twitter.com/AP/status/971152359278698496 SPY now down around 0.8% AH
spx seems to have repected the 50 day above its head, im mad i sold netflix yesterday, but, i need the market to prove to me that we arent going to retest the lows, vix still elevated and inverted and we cant break the 50 day.
oh wow just saw the news, markets tanked after hours Cohn's exit from the White House a negative for markets https://www.cnbc.com/2018/03/06/cohns-exit-from-the-white-house-a-negative-for-markets.html
Not sure if that ADP # will start another "inflation fear" or "rising interest rate fear" once again...markets pretty steady atm...
https://seekingalpha.com/news/3337176-takeover-chatter-sends-amd-flying i looked away from my screen for 15 minutes, then boom i see my amd flying, lol.
The SPX wants to go above 2800 it seems. But these catalysts are temporarily creating some negative gravity
President Trump is expected to announce tariff plan details Thursday or Friday While House officials told CNBC that President Donald Trump is expected to announce the details of his tariff proposal, including any carve outs or exemptions, on Thursday or Friday. At the same time, the officials said, there could be conversation this week around additional trade actions the White House is considering. Officials said there is a basket of trade related ideas under consideration, but it is not clear what ideas will ultimately be embraced by the president. https://www.cnbc.com/2018/03/07/pre...e-tariff-plan-details-thursday-or-friday.html Not sure what would be considered as good news for the market, I guess market probably want to see exemptions for Canada and Mexico
Guess that'll depend on the NAFTA talks....also, there's an asshole running for president in Mexico that pretty much hates the USA, and if he gets in, no telling what'll happen.
White House says Trump may exempt Canada, Mexico from tariffs https://www.cnbc.com/2018/03/07/white-house-says-trump-may-exempt-canada-mexico-from-tariffs.html SPX was down just 2 points after the news, now back to being down about 7 points.
