Afternoon Note
The follow through in the markets continue today as the major averages are all in the green and out of correction territory, although only the NASDAQ is positive for 2015. Global markets were also up in reaction to the US rally on Friday due to the jobs report. China is actually closed for trading till Thursday.
But it’s not all green. The bio-tech continue to get hit. And oil and gold are both down in the session.
We got more data today to help make the Fed decision more difficult. The September Non-Manufacturing ISM (NMI) Report on Business for September came in at 56.9%, reflecting a slow-down in the growth in the services sector. The US service sector, the largest, most critical part of our economy, is more domestic and not as dependent on the global economy as the manufacturing sector. Although growth is still healthy, it has moderated. Highlights from the report include:
The activist parade continues as Nelson Peltz, who runs the hedge fund Trian, takes a $2.5 billion stake in General Electric.
Alcoa, which helps kick off the earnings season on Thursday, just announced a $1b deal with Airbus. Alcoa’s fasteners fly on all Airbus planes. Maybe this will help the struggling company that has been down 14.2% the past 3 months compared to the S&P which has been down 6%.
We remember Steve Job’s today on the fourth anniversary of his passing. In his honor, after being down most of the day, Apple (aapl) has turned positive.
Tweet |
4/24/2024 1:30 PM | Earnings Flood In |
4/24/2024 9:26 AM | BUYING THE DIP |
4/23/2024 1:25 PM | Bloom Off Rose |
4/23/2024 9:32 AM | WHAT HAPPENED TO THE BRAVADO? |
4/22/2024 1:22 PM | Pins and Needles |
4/22/2024 9:30 AM | LIVE BY THE SWORD … |
4/19/2024 1:20 PM | Fair Chunk of Rotation |
4/19/2024 9:35 AM | DON’T OVERREACT |
4/18/2024 1:37 PM | Didn’t Break Down |
4/18/2024 9:40 AM | MARKET OFF SCRIPT |
4/17/2024 1:59 PM | Facing Pressure |
4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
4/16/2024 1:35 PM | Muted |
4/16/2024 9:42 AM | FEAR ARRIVES |
4/15/2024 1:17 PM | Making a Statement |
4/15/2024 9:45 AM | Equal Opportunity Drubbing |
4/12/2024 1:37 PM | Pressure Overall |
4/12/2024 9:42 AM | WHO YA GONNA CALL? |
4/11/2024 1:38 PM | No Urgency |
4/11/2024 9:27 AM | Tough Sledding |
4/10/2024 1:22 PM | Hang In There |
4/10/2024 9:51 AM | HERE COMES THE LATEST RATIONALE FOR PERSISTENT INFLATION |
4/9/2024 1:56 PM | Fighting the Trend |
4/9/2024 9:46 AM | NEXT TIME, MAKE IT A HOLIDAY |
4/8/2024 9:45 PM | Cautious Feel |
More commentary archives |
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|