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Afternoon Note

ďAmerica FirstĒ

By Charles Payne, CEO & Principal Analyst
1/26/2018 1:52 PM
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The markets are continuing their upward movement and are all at or near highs.  President Trump’s speech in Davos is being talked about everywhere.  “America is open for business” and even though his priority is putting “America First” the great take away is, “When America grows so does the rest of world.”

Wynn Resorts (WYNN) is getting hit hard today, down over 8% on news from the WSJ that dozens of people have alleged Steve Wynn with sexual misconduct.  Wynn vehemently denies it, saying it’s “preposterous” and blames his ex-wife Elaine Wynn, who is trying to change the terms of their divorce agreement, for instigating these allegations.

The earnings parade marches on with winners being rewarded and those not delivering as expected being punished.

At midday, advancers and decliners are almost even on both the NYSE and Nasdaq.  Health Care (led by ABBV), and Technology (led by INTC earnings taking the semis higher) are strong today while Consumer Staples, Financials, Materials, Real Estate, Telecom Services and Utilities lag.   

The dollar is down again, to lows from 2014 and taking oil higher, with WTI up another .85% to $66.07, to the highest levels since December 2014.  The latest Baker Hughes reports shows 11 new rigs added taking the total to 947.

 

And U.S. Treasury are also climbing again after GDP came in below estimates.  The benchmark 10-year is at 2.666%. 


Comments
Have watched your show for years; admire your ACCOMPLISHMENTS, over the years, your level headedness, your service to Country, you are truly a Patriot of the UNITED STATES of AMERICA.

Kawika on 1/26/2018 3:02:44 PM
 

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