Finishing strong again on the DOW, and the others too. Just got a little wind knocked out of them earlier-can't keep a good man (POTUS) down. Passing 27k is a good thing, it's just a round number though-it did trigger buy stops though and forced many to cover short positions.
The DOW just said "well no…fuck you" to the auction results, NAS a little down from its earlier highs, SP500 same thing.
Rus2K the only laggard here, but all of them on very low volume.
Covered in here already is the Pharma news re: benefit managers industry….:/
Stocks mixed there: Cigna (CI) vaulted up almost 12%, while United Health Group (UNH) and CVS (CVS) were both up 5.2%.
That news also sent pharmaceutical shares falling. Eli Lilly (LLY) was down 3.9%, Merck (MRK) fell 3.2% and both Bristol-Myers Squibb (BMY) Pfizer (PFE) fell 3%.
Fastenal (ticker: FAST), a company investors look to as a bellwether for the health of U.S. manufacturing, fell 5% after the company reported weak earnings that indicates bad news for manufacturing.
'''How they manage those results is, welll…I don't know-someone needs to have a 'chat' with upper mgmt with all the mfg jobs and activity going on here now
Here is the link to the result of the 30yr. >>6996814 pb Marketfag update. Just know that this is the canary in coal-mine and the big difference now as opposed to years past
is that the system is fully invested in NOT allowing these poor results to have an outcome or result-KEY POINT, CONTROL. These are not uncommon and have habbened periodically over last few decades with the results being similar. We live in interdasting times now and the system has less control over what it actually does with these poor results.
See this from 2012, old article but what it speaks to is still very relevant
There Will Never Be A Failed US Treasury Auction… Until There Is- https://www.zerohedge.com/news/guest-post-there-will-never-be-failed-us-treasury-auction-until-there
Entire section of Treasury market had increased yields, see cap #3
Back to the markets, as expected the markets came off of the highs after these results were announced, the DOW less so.
The stuff habbening in the background now is MONUMENTAL, financially speaking-they just do not want to talk about it on financial tv so don't go looking to them to 'splain it-they won't.
pepe does best job can do being one frog in a house thousands of miles away from the 'action'-no whispered insider info or "blue horse shoe loves anacot steel" bullshit.-original Wall St movie reference for those that don't know.
Starting to see financial media backing down on earning expectation now, of the 114 companies that have issued earnings forecasts, 77% of them have issued negative earnings per share guidance, according to data from FactSet.
Not a new thing as they typically lower the guidance going into the qtr close from the lofty ones given at prior qtrly reports. I REALLY want to see Tesla's now that they won't make good on the production number bonus they promised.
Thanks in part to those warnings, earnings are estimated by analysts to have declined by 2.9% year over year in the second quarter. At the start of the period, analysts expected earnings to be basically flat.
Of course! they took the company guidance and just ran with it and NEVER looked into the actual reports much. Remember GooG's last 10-Q had an $18 gorillion (billion) hole in it as they just shoved whatever they wanted into the "good-will" bucket (accounting-wise) and took all the crap they could not account for, valued it at "whatever the fuck we say" and then put out the numbers. Must be nice, "I have checks so I MUST have money!"
The Dow Jones Industrial Average notched a record high on Thursday, breaking above 27,000 for the first time in its history.
The S&P 500 climbed above the 3,000 level for the first time Wednesday, but came off that a little after the 30yr results-see above, after Federal Reserve Chairman Jerome Powell said business investments across the U.S.
have slowed “notably” as uncertainties weigh on the economic outlook.
I wonder who has been telliing you this for a few months now……hmmmmm, like right after they lowered the discount rate instead of the FRB rates.-faggots all of them
Next week should paint a fuller picture with Citi(that one would be gud-not,fixed-income been the lifeline all of them have and now it's not so gud) kicking off second-quarter earnings Monday.
Names like Goldman Sachs, and JP Morgan will also report, as well as Microsoft, UniteHealth, IBM, Philip Morris, United Airlines, and Netflix.