I am siting and waiting at the inspection station. Listening to Varney on Sat radio. Looks like my stocks are improving. Nice to potentially be making some money while taking care of other business and doing nothing.
Back from my errands and....NICELY....the markets have now improved with the SP500 and NASDAQ in the GREEN. I have also improved with my nine stocks to where I am NOW.....seven GREEN and two RED. I am dead flat at.....+0.00%....since my two red are NVDA and AMZN. We have HOPE.
Glad to see this as a GOOGL shareholder. Any dollar that is NOT invested in China is a good thing going forward. I am also glad to see the company taking positive steps forward into AI. They have done a very poor job playing the AI PR game so far and need to ramp up for the future. Google to invest $1 billion in Thailand to build data center and accelerate AI growth https://www.cnbc.com/2024/09/30/google-to-invest-1-billion-in-thailand-data-center-and-ai-push.html (BOLD is my opinion OR what I consider important content) "Key Points Google is investing 36 billion Thai baht, or $1 billion, into Thailand to build a new data center and expand its cloud infrastructure, the company said Monday. It marks a ramp-up of Google’s expansion in Asia, putting artificial intelligence at the heart of its international push at a time when it is facing competition from companies such as Microsoft and OpenAI. In a 2023 report, Google, Temasek and Bain & Company said Thailand’s digital economy is the second-largest in Southeast Asia and is expected to reach $50 billion by 2025. Google announced Monday it is investing 36 billion Thai baht, or $1 billion, into Thailand for the creation of a new data center and expansion of the country’s cloud infrastructure. The move marks a ramp-up of Google’s expansion in Asia, putting artificial intelligence at the heart of its international push at a time when it is facing intense competition from companies such as Microsoft and OpenAI. The investment would see the company create its first data center in Thailand, Google said in a post on its Thailand blog Monday. Data centers are the backbone of today’s modern digital economy, fueling the rise of cloud computing technology that enables access to storage, compute and analytics services via the internet. Google said its debut Thai data center will be located in Chonburi, an eastern province of Thailand. The facility will “help support the growing demand for Google Cloud and AI innovations, as well as popular Google services such as Google Search, Google Maps and Google Workspace” in Thailand, Jackie Wang, Google’s Thailand country lead, said in the blog post, according to an English translation taken via Google Translate. Beyond developing infrastructure, the $1 billion investment from Google into Thailand is “also about unlocking new opportunities for businesses, educators and all Thais,” Wang said in the blog post. “As AI transforms industries, it is more important than ever to educate and upskill Thais to use this technology,” she added. Thailand’s digital economy is the second-largest in Southeast Asia and is expected to reach $50 billion by 2025, Google, Temasek and Bain & Company said in a 2023 report by e-Conomy SEA. Google is investing in the region with a focus on AI as it faces pressure from its rival tech giants when it comes to both AI and cloud computing. The internet giant currently dominates globally when it comes to its search engine technology. But the firm has increasingly come under threat from the surge of generative AI tools such as OpenAI’s ChatGPT. It is a technology that Google helped pioneer through its early research on so-called transformer models, which are the bedrock of many of the most-popular generative AI models. However, today Google finds itself under threat from the use of generative AI products, such as ChatGPT and Perplexity, an AI-powered search engine, to find information about things. Last week, Google filed an antitrust lawsuit with the European Commission accusing Microsoft of abusing its dominant position in the cloud industry to undermine competition." MY COMMENT Anywhere but China. India, any other Asian country, is good for me.
Here is some nice news for the BULL MARKET and investors. Broadening gains in US stock market underscore optimism on economy https://www.reuters.com/markets/us/...arket-underscore-optimism-economy-2024-09-30/ (BOLD is my opinion OR what I consider important content) "NEW YORK, Sept 30 (Reuters) - More stocks are participating in the S&P 500’s latest march to record highs, easing concerns over a rally that has been concentrated in a handful of giant technology names for much of 2024. The S&P 500 is on track to gain 5% in the third quarter, which ends on Monday. This time, however, optimism that the Federal Reserve’s rate cuts will boost U.S. growth is pushing investors into shares of regional banks, industrial companies and other beneficiaries of a strong economy and lower rates, in addition to the tech-focused stocks that have already seen massive gains this year. More than 60% of S&P 500 components have outperformed the index so far this quarter, compared to around 25% in the first half of the year. At the same time, the equal-weight version of the S&P 500 -- a proxy for the average index stock -- has gained 9% in the quarter, outperforming the S&P 500, which is more influenced by the heavily weighted shares of megacaps such as Nvidia and Apple. The broadening rally is an encouraging sign for stocks, investors said, following concerns that the market could be vulnerable to a reversal if the cluster of tech names propping it up fell out of favor. The “soft-landing” narrative of resilient growth will be tested by employment data at the end of the week and the start of corporate earnings season in October The second half of the year so far is "almost a mirror image of what the first half was," said Kevin Gordon, senior investment strategist at Charles Schwab. "Even if the megacaps aren't contributing as much, as long as the rest of the market is doing well... I think that's a healthy development. Chart of the S&P 500 vs the equal-weight S&P 500, which is a proxy for the average index stock The Fed kicked off its first rate cutting cycle in four years earlier this month with a 50-basis point reduction, a move Chairman Jerome Powell said was meant to safeguard a resilient economy. Traders are pricing an even chance of another jumbo-sized reduction when the central bank meets again in November and project over 190 basis points of cuts through the end of 2025, according to LSEG data. Various corners of the stock market are benefiting from expectations of lower rates and steady growth. The S&P 500’s industrial and financials sectors - seen by investors as among the most economically sensitive areas - are up 10.6% and about 10%, respectively, in the third quarter. Falling rates are also a boon to shares of smaller companies, which disproportionately struggle with elevated borrowing costs. The small-cap focused Russell 2000 is up nearly 9% this quarter. The market’s bond proxies - stocks with strong dividends - are also attracting investors seeking dividend income as bond yields fall alongside interest rates. Two such sectors, utilities and consumer staples have climbed 18% and 8%, respectively so far this quarter. Mark Hackett, chief of investment research at Nationwide, said the broadening builds on a trend that appeared before the September 17-18 Fed meeting. "We were going to have this greater participation, this leveling of performance among sectors, and then you had the Fed cut more aggressively and that's leading to... an acceleration of that trend," he said. 'QUITE HEALTHY' In all, seven of the S&P 500's 11 sectors are outperforming the index in the third quarter. By comparison, only technology and the communications sector, which includes Google parent Alphabet and Facebook owner Meta Platforms outperformed the broader index in the first half of the year. The S&P 500 is up more than 20% year-to-date, at record-high levels. Meanwhile, the overall influence of the megacaps has moderated. The combined weight in the S&P 500 of the "Magnificent Seven" -- Apple, Microsoft Nvidia, Amazon, Alphabet, Meta and Tesla -- has declined to 31% from 34% in mid-July, according to LSEG Datastream. "I find it to be quite healthy that tech has kind of consolidated," said King Lip, chief strategist at BakerAvenue Wealth Management. "We're not in a bear market for tech by any means. But you've definitely seen some evidence of rotation." Investors would likely need to see further proof of economic strength for the broadening trend to continue. Jobs data on Oct. 4 will be one test of the soft landing scenario, after the prior two employment reports were weaker than expected. Market participants will also want to see non-tech firms deliver strong earnings in the months ahead to justify their gains. Magnificent Seven companies are expected to increase earnings by about 20% in the third quarter, against a profit rise of 2.5% for the rest of the S&P 500, according to Tajinder Dhillon, senior research analyst at LSEG. That gap is expected to shrink in 2025, with the rest of the index expected to increase earnings by 14% for the full year against a 19% rise for the megacap group. In a soft landing scenario, the Magnificent Seven "should not have to carry the profit rebound alone," Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management, said in a recent report. "We are in the 'show me' stage for the soft landing," Shalett said." MY COMMENT I will call it NOW since it is obvious. WE HAVE ACHIEVED A SOFT LANDING. Recession is nowhere imminent and the BULL MARKET is healthy and growing into other sectors of the markets. We are now seeing BROAD BASED gains in the markets. AND....every economic data point and indicator that I can remember....has been positive for the economy and inflation....over the past 3 months. It is time for the financial media to give up and cut out the constant negativity on the economy and the markets. It just undermines their credibility to constantly talk negative in the face of a growing BULL MARKET and a strong economy.
BUT.....of course.....we have to get past the election in about 5 weeks. I have a pretty good expectation for where it is headed with what I am seeing right now......but....that is something for a different thread. AND....five weeks in a tight election is an ETERNITY.
Surprise.....surprise. That had to be one CRAZY close today. I looked at my phone about 1.5 hours till the close and I had six of nine stocks red and all the big averages were red. I did not look at the markets again till about five minutes ago....after the close.... and everything was green with the big averages. AMAZINGLY....I ended the day in the green. I had a single RED stock at the close....AMZN. Even NVDA managed to close slightly in the green. I even managed to beat the SP500 by.....drum roll please....0.04%. A good start to the week when the markets........snatched victory out of the jaws of defeat. BRAVO.
As I said above: Dow, S&P 500 hit fresh records to cap strong September, quarter https://finance.yahoo.com/news/live...o-cap-strong-september-quarter-145516820.html (BOLD is my opinion OR what I consider important content) "US stocks bid farewell to the month and the quarter with fresh records as investors reacted to Federal Reserve Chair Jerome Powell vowing to do what it takes to keep the economy humming, while signaling he won't rush future rate cuts. The S&P 500 (^GSPC) rose 0.4% to close at a new record, while the Nasdaq Composite (^IXIC) gained close to 0.4%. Meanwhile, the Dow Jones Industrial Average (^DJI) finished just above the flatline, securing its latest all-time-high. Typically the cruelest month for stocks, Wall Street indexes recorded monthly wins to close out the last trading day of September. Notably, the S&P 500 notched its best year-to-date performance at September's end since 1997. The S&P also enjoyed its best quarter since the fourth quarter of 2021. Over the last three months, the Dow led the major indexes' gains, up 8.2%. The S&P gained 5.4%, and the Nasdaq added nearly 3%. The Federal Reserve's jumbo interest rate cut and signs of resilience in the US economy have lifted confidence, helping stocks post three weekly wins in a row. The final trading day of the month and the quarter also came with profit taking and rebalancing. Investors are now bracing for the September jobs report, due out on Friday, which is seen as posing an important test for the recent rally. The pressing question is just how quickly the labor market is slowing as the market weighs whether the Fed has acted aggressively to protect a healthy economy or to help a flailing one. "Overall, the economy is in solid shape; we intend to use our tools to keep it there," Powell said in a speech before the National Association for Business Economics in Nashville, Tenn. His remarks come days ahead of the the crucial monthly jobs report. Powell's comments on not rushing the next round of rate decisions also lowered expectations of another jumbo cut." MY COMMENT Powell's remarks today and the close today should go a long way toward helping this to be a positive week for stock investors. We are going to see slow and sure......0.25%....rate cuts for many months ahead. We are also going to participate in a really nice BULL MARKET. A dream situation for long term ivnestors that are already in the markets. Kind of a nightmare for those that are siting in cash and will be trying to figure out what to do and how and when to get back into the markets.
Get in some good stocks today this week next month going to be stellar. Previous years October strongest month. Overall, the economy is in solid shape; we intend to use our tools to keep it there," Powell said in a speech before the National Association for Business Economics in Nashville, Tenn. His remarks come days ahead of the the crucial monthly jobs report.
Stock Market Today Dow Jones Futures Fall Ahead Of Key Economic Data; Google Gets Buy Rating SCOTT LEHTONEN 08:11 AM ET 10/01/2024
The Port strike and the Middle East. About all there is to talk about today. Neither issue really has anything to do with investing or stocks and funds. They may be the news of the day....for a short while...perhaps a week or two....but are irrelevant to investors. It will be another day with NOTHING really going on. BUT......the issues above will probably drive the AI SPEED TRADERS to push the markets to the negative as we already see at the open.
YEP....pretty much covers it. The invisible computing age https://www.riskhedge.com/outplacem...ntent=RH144OP687&utm_medium=ED&utm_source=rcm (BOLD is my opinion OR what I consider important content) "1. Who canceled the September swoon? September is historically the worst month for stocks. And we know markets typically dip ahead of US presidential elections. The S&P 500 isn’t obeying these seasonal trends this year. US stocks just hit their 41st record high of 2024. It’s the best start to a year since 1997! My friend Jawad Mian of Stray Reflections recently reminded me of an important investment truth. You often make the most money finding “anomalies” in the market: “To find these opportunities, ask yourself: What IS happening that SHOULDN’T be?” Stocks are ripping higher right now. This SHOULDN’T be happening, but it IS. This tells me there’s real strength behind this market. And it’s not only a handful of stocks going up. Over 150 names in the S&P 500 are up 20%+ this year. Scroll down the list of stocks hitting new highs. You’ll see everything from U-Haul (UHAL)… Walmart (WMT)… Booking Holdings (BKNG)… taser maker Axon Enterprise (AXON)… McDonald’s (MCD)… and even stodgy ol’ IBM (IBM)! This is a market for making money. Invest accordingly. The Federal Reserve cut interest rates last week for the first time since COVID. The S&P 500 quickly vaulted to all-time highs. Where it goes over the next year depends on the strength of America’s economy. When the Fed cuts rates because we’re headed into a recession, things get messy. It’s happened a dozen times since 1970, and stocks have typically fallen 14% over the next 12 months. Stocks perform much better after rate cuts when the economy keeps humming. They gain 11% in the next year, on average, as this chart shows: Source: Goldman Sachs Nobody knows where the economy will be a year from now. But our research suggests it’s as strong as an ox today. Legendary trader Stan Druckenmiller often says, “The best economist I know is the guts of the stock market.” In other words, you should trust signals coming from the stock market more than some economist sitting in an ivory tower. And right now, the guts of the market are screaming, “Higher!” Homebuilder stocks are hitting fresh highs. Would this be happening if the economy was in the toilet? No chance. I had dinner with the manager of a multibillion-dollar global fund in Abu Dhabi last week. Bahraini meat skewers, tasty! His view: Get ready for a melt-up in US stocks in the next 6–12 months. My take: Continue to invest in great disruptors profiting from megatrends, and the rest will take care of itself." MY COMMENT Above are the current drivers of the markets. Along with earnings it is going to be all about rate cuts and upward momentum.
There are two economic stories today. US manufacturing steady in September; prices paid measure lowest in nine months https://finance.yahoo.com/news/us-manufacturing-steady-september-prices-140329548.html (BOLD is my opinion OR what I consider important content) "U.S. manufacturing held steady at weaker levels in September, but new orders improved and prices paid for inputs declined to a nine-month low, which together with falling interest rates bode well for a rebound in activity in the coming months." and US job openings rise to 8 million as labor market remains sturdy https://www.yahoo.com/news/us-job-openings-rise-8-141054896.html "U.S. job openings rose unexpectedly in August as the American labor market continued to show resilience. The Labor Department reported Tuesday that employers posted 8 million vacancies in August, up from 7.7 million in July. Economists had expected openings to be virtually unchanged. Layoffs fell in August. But the number of Americans quitting their jobs — a sign of confidence in the labor market — slid in August." MY COMMENT I consider both of these in the.....GOLDY-LOCKS....range. There will be no impact on the FED rate cut plan at all. YES.....more good economic news for investors.
YES.....more "indirect" good news for NVDA. Every day there are stories like this that have an indirect positive impact on the future of NVDA. Most of it is now ignored....but it is REALITY. Money in the bank. Microsoft’s mammoth AI bet will lead to over $100 billion in data center leases https://www.cnbc.com/2024/10/01/mic...finance-leases-that-havent-yet-commenced.html It will be a fun ride.
I HATE when current event news stories obscure and dominate the markets. That is where we are today and probably for the rest of the week. All I hear on the financial news today is......IRAN, IRAN, IRAN......and......ballistic missile attack on Israel is immanent. An important story on its own....but totally irrelevant to the markets over the medium to long term.
With the negative media focus elsewhere...it is simply a total waste of time for me to watch the markets today. I am TOTAL RED in my nine stocks. Oh well.....nothing I can do about it.
Since the markets are irrelevant today I will simply tread water on this thread. I am waiting for my painting that I purchased at auction recently to come in about 2 weeks. It will be picked up by an art shipper next week and hopefully will get here within about four days. The shipper will be making many stops..... from the auction site to deliver paintings....one by one. I also have a couple of regional auctions that I will be bidding in next week. The first one is an original painting that I will try to get for my kid. I am hoping to get the painting for under $1000. This particular artist is still living and working and their paintings usually sell in the $7000 to $15,000 and up range. I think with the type of auction it is....i have a very good chance to get it below $1000. It will make a nice home decor item and at the same time is an original painting that I think will probably hold good value. The second painting that I will be bidding on....in a different auction.....is for me. It will not be anywhere near the price of the painting that is shipping above....but it is not a small purchase. This will probably be the last art purchase for us this year.....and....next year. With the auction that this painting is in....I am hopeful to get it at a price that is $5000 to $10,000 below normal market value. BUT.....that is just a BONUS....I am buying it because I like it and have wanted a painting from this particular deceased artist for a while and this is a good opportunity.
I have not looked at a single thing regarding the markets since this morning. I knew it would simply be a waste of time. One of those days that you cant fight the tape. I ended in the RED. At least I had two stocks up today....HD and GOOGL. I got hammered by the SP500 by 1.16%. MOVING ON.
Sounds good to me....since this is good news for the FED rate cuts. Job openings data 'masks' signals of weak labor market https://finance.yahoo.com/video/job-openings-data-masks-signals-170208674.html
BUMMER. Nike posts bigger-than-expected quarterly sales drop on weak China demand https://finance.yahoo.com/news/nike-posts-bigger-expected-quarterly-201813364.html BET that about now they are real sorry that they dumped a lot of their big retail partners. HUBRIS at work with that move. I bet the new up and coming brands that are taking their business and eating their lunch are selling in any retail store they can get into. Now we will see how the new CEO can do with the same company.
