Market Observations

Americans are growing more confident about the future, and it’s the best news.  I always say a large percentage of economic success is self-fulfilling, and right now, consumers are looking for greatness down the road.   Consumer Confidence Headline of 102.4 climbed 4.5 percentage points to highest level in 15 years carried by a surge in Expectations of 7.7 percentage points.

 Michigan Consumer Sentiment

It should be noted that the latest salvo in the trade war came after this survey and those mentioning tariffs declined to 16% from the high of 35% last July. This will surely bring the next report lower, but the main point is without those issues, the American consumer is  extremely confident.

The news gave the market a shot in the arm.  Although selling resumed, it points out there is an abundant amount of money eager to buy dips despite the uncertainties over trade saber rattling and weekend tweets.

IPO Parade

Pinterest (PINS) is getting hit on its first earnings release as a publicly traded company hasn’t deterred investors’ appetite for three initial public offerings today.

Luckin (LK) is the most hyped in part to the mystery surrounding this upstart that has seen meteoric growth in less than two years.  The Chinese coffee company is taking on Starbucks in China. 

Fastly (FSLY)

American Technology Company specializing in content distribution.  

Avantor (AVTR)

Chemical maker providing a variety of biomedical products for the life science industry.  Company raised $2.9 billion, making it the second largest amount in 2019. 

Have a great weekend.