Yay! Market getting comfortable with a Trump presidency Wall Street seems to be growing more comfortable with the possibility of Donald Trump winning the presidential election, according to a recent poll by Strategas Research Partners. A survey conducted by the firm among more than 650 institutional clients, shows that 50 percent of the respondents believe the billionaire businessman will secure the presidency, compared with only 22 percent back in April. Even as Trump's prospects improved in the eyes of investors, the stock market has climbed almost 2 percent in May and hovers near an all-time high.
CNBC - U.S. stocks traded mixed Tuesday, the last trading day of May, as investors eyed data for indications on the timing of the next rate hike. Consumer staples and discretionary traded slightly lower as the greatest decliners in the S&P 500. The index struggled to hold above the psychologically key 2,100 level. Traders are watching to see whether the index can hold above that level in the close. The S&P 500 has closed above that level only twice so far this year: on April 19 and 20.
I'm not sure what to make of today's action. This seems like an obvious area to short, but I'm not really feelin it in my gut. Things are just slow and forced, the market isn't gonna roll over or do anything exciting with more days like this one. On the bright side max pain is like 2105 /ES with much better reward.
Amazon soars to new all-time highs—here’s what it could do next Amazon has proven itself to be an exception amid a relatively stagnant market that has ping-ponged between the same levels all year. The e-commerce giant broke above its previous all-time high to hit $724.23 on Tuesday, part of a post-earnings climb that just keeps going. This has led Oppenheimer technical analyst Ari Wald to describe Amazon's relentless momentum as evidence of an "anomaly" where stocks that outperform the market tend to continue to do so. "What's telling for me about the charts is, here's a stock breaking at new highs while the rest of the market is still dealing with resistance from May of last year," he said on CNBC's "Power Lunch." "This is evidence of the relative strength of this stock."
"This has led Oppenheimer technical analyst Ari Wald to describe Amazon's relentless momentum as evidence of an "anomaly" where stocks that outperform the market tend to continue to do so."...until they don't. I feel like we're entering a greed phase. Real estate investing, stock market, etc. The pendulum is starting to swing further to the extremes. With the PE ratio of the S&P at levels quite higher than the historical norm, and global economies not looking so hot, I have to wonder. Everyone's a bull again.
"I feel like we're entering a greed phase." and realizing what I wrote it could be describing an Elliott W5
i agree, a reach of the new highs does seem really viable, this is actually the perfect time for it too, we had a test of the battleground support and bounced off, sooner or later that FOMO will start kicking in and that could take us past the 2100 resistance area.
Early movers: KORS, NKE, DWRE, TSLA, UA, COST, WFM, LE, TM, WDAY & more http://www.cnbc.com/2016/06/01/early-movers-kors-nke-dwre-tsla-ua-cost-wfm-le-tm-wday-more.html Michael Kors — The luxury goods maker reported quarterly profit of 98 cents per share, beating estimates by 2 cents a share. Revenue was also above forecasts. Same-store sales were up 0.3 percent, matching forecasts, and Kors also announced a $1 billion share buyback. Nike — The athletic apparel and shoe maker was downgraded to "equal weight" from "overweight" at Morgan Stanley, which said the athletic apparel category is weakening while competition is increasing. Demandware — Salesforce.com is buying the maker of website design software for $2.8 billion in cash, or $75 per share. That represents a more than 56 percent premium over Tuesday's close. Tesla — CEO Elon Musk told the automaker's annual meeting that Model 3 owners will not receive free and unlimited access to the company's charging station network for life, unless they purchase a specific package. Separately, the automaker said that two upcoming software updates should fix persistent glitches with the futuristic rear doors on its Model X SUV. Under Armour — The company issued a sales warning directly related to the bankruptcy filing of sporting goods retailer Sports Authority. The sports apparel maker said it would only see about a quarter of the revenue it had originally expected from sales at Sports Authority. Costco — Goldman upgraded the warehouse retailer's shares to "buy" from "neutral," citing benefits from the transition from American Express to Visa credit cards, as well as an anticipated member rate increase. Whole Foods — The grocery chain was upgraded to "outperform" from "neutral" at Credit Suisse, which said Whole Foods is in the beginning stages of a market repositioning that should rejuvenate its growth. Lands' End — The retailer lost 18 cents per share for its first quarter, compared to estimates of a 2 cents per share profit. Revenue also fell below Street forecasts, with comparable-store sales falling 7.1 percent. Toyota — The automaker is in talks to buy two robotics divisions from Google parent Alphabet, according to a report in Japan's Nikkei newspaper. That includes the Boston Dynamics division, known for the Cheetah robot. Workday — Workday earned an adjusted 5 cents per share for its latest quarter, compared to consensus forecasts of a 2 cents per share loss. Revenue was also better than expected for the provider of human resources software, but shares are under pressure on indications of slowing growth in billings. Staples — Chief Executive Officer Ron Sargent will depart after the company's June 14 annual meeting. The move comes just a few weeks after Staples ended its planned deal to buy rival Office Depot in the face of Justice Department objections. Staples North American President Shira Goodman will serve as interim CEO while a special committee searches for a permanent replacement. Boyd Gaming — The casino operator is selling its 50 percent stake in Atlantic City's Borgata casino to MGM Resorts for about $900 million. Alibaba — Major shareholder Softbank will sell about $7.9 billion in Alibaba shares, cutting its stake in the China-based e-commerce giant to 28 percent from 32 percent. Apple — Apple is planning to issue $1 billion in 30-year bonds in Taiwan, according to a Reuters report. Las Vegas Sands, Wynn Resorts — These and other casino operators operating in Macau are on watch today, after gaming revenue dropped 9.6 percent in May. That marked the 24th consecutive month of falling revenue. Separately, Las Vegas Sands settled a lawsuit with former CEO Steve Jacobs, who had sued in 2010 for breach of contract and wrongful termination. Microsoft — Microsoft is selling about 1,500 patents to China electronics maker Xiaomi, in a deal that also includes a patent cross-licensing agreement. Financial terms of the deal were not disclosed. Valeant Pharmaceuticals — The drugmaker will discuss its delayed first-quarter results in a conference call on June 7, and file the numbers with U.S. and Canadian regulators on or before June 10 — that's well ahead of a July 31 deadline.
