Initial reaction after the FED is stocks higher, dollar and yields lower and gold higher. Will see if it will hold though since the initial move after the FED seemed to be wrong most of the time and we have press conference coming up
who was it on here that was looking for that 2700ish target on this up move? think it was @Steven_Burt if i ain't mistaken? that was a nice call.
LOL ^^^ I was looking for 2700. I was just about to post that I am looking for a good short entry now.
Fed Chair Jerome Powell says the case for raising interest rates ‘has weakened’ Fed Chairman Jerome Powell came out with his strongest statement to date that the central bank is changing its tune on interest rate hikes. “The case for raising rates has weakened somewhat,” Powell says. The FOMC left its benchmark and said it would take a “patient” approach toward further hikes. https://www.cnbc.com/2019/01/30/fed...-for-raising-interest-rates-has-weakened.html Wow the FED getting very dovish here
Cy, looks like the FED day losing streak ends here, the stats the you mentioned yesterday was very interesting
Interesting, so we get the worst December for the market since like the early 1900s, now followed by the second best Jan. since '87 (should tomorrow not completely fall apart)...I wonder what February will bring us
Not exactly what you're looking for here, but here are the percent of the companies who are beating est. this quarter compared to prior quarters dating back to 1999...and bottom chart is percent of companies beating on revenue est. These 2 charts are not up to date as of today though, it's as of Friday. If I find the estimates vs. actual I'll be sure to post it here.
Good Thursday to all. Welcome to month end trading! Here is this morning's pre-market news thread for those of you wanting to get a quick read before today's open- <-- click there to read! Hope everyone has a great trading day ahead today on this final trading day of January!
Morning Lineup – Jobless Claims Surge Jan 31, 2019 After the FOMC came through in a big way for the bulls yesterday, equity futures are quiet this morning. Over in the Nasdaq, things are looking brighter as an 11% rally in Facebook (FB) following its earnings report last night has the stock on pace for its best earnings reaction day in three years! In more global macro data, the President is busy on Twitter this morning discussing the topic of Chinese trade and saying that no deal will be made until he personally meets with Chinese President Xi in the “near future.” Jobless Claims were just released and saying they surged would be an understatement, as they rose from 200K up to 253K, the highest weekly reading since September 2017! It wasn’t long ago that the market would seemingly go months on end without a daily move of 1% let alone 2%. With the help of the Fed’s dovish turn yesterday, though, the Nasdaq rallied over 2%, making it the 24th time in the last 100 trading days that the index moved up or down 2% in a single day. That works out to an average of more than once a week! The chart below shows the historical 100-day rolling total of occurrences where the Nasdaq saw an up or down move of 2%+. The current level of 24 is now the highest total we have seen since early 2012, and only the fourth such period in the index’s history. Granted, the period in the late 1990s/early 2000s lasted a long time and saw a much higher frequency of 2% at its most extreme points, but these periods of large day to day moves are still relatively uncommon. Just as interesting is how the period from 1972 through the mid-1990s saw so little in the way of big daily moves. But once the late 1990s rolled around, the beast was awoken.
AMZN reporting today. See if it can go above the 200 ma. Cloud stocks like NOW and WDAY are moving up. And LITE is not so bad...but SMH resistance at 97.
