Larry Fink

EARNINGS TO THE RESCUE?

Stocks opened higher this morning. The Dow is current up 55 pts and the SPX is up .12%. Sectors are responding to earnings announcements (see below) and interest rates. Rate sensitive sectors like real estate and utilities are down between .8% and 1.8% in early trading. The banks are up 1%. The VIX is down and commodities are up. Bonds are trading lower. The 10-year Treasury yield jumped to 2.59%. In other words, today’s session fits a risk-on template.


*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.

October 16, 2018

October 16, 2018

The major stock market averages screamed higher in early trading, reversing the prior week’s trend. The Dow is currently up 374 pts and the SPX is up 1.5%. So far, this is the Dow’s best day in two months. All eleven market sectors are in the green, led by tech and healthcare (+2%). Even financials are participating to some extent. The VIX Index gapped down below 19 suggesting traders are increasingly less nervous about the near-term. European stock markets are poised to close up well over 1% and most of Asia was up overnight (except China). The dollar is flat against a basket of foreign currencies after having declined a bit over the last week. Commodities are mixed in early trading. WTI crude oil is unchanged at $71.70/barrel. Gold is up slightly today (& up about 4% over the last two weeks). Bonds are trading modestly lower as yields tick up. The 5-year and 10-year Treasury Note yields are back up around 3.03% and 3.17%, respectively.


*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.

July 14, 2016

July 14, 2016

The major stock market averages opened higher yet again (Dow +135 pts; SPX .55%). Financials are leading the way—for a change—after JP Morgan’s earnings announcement. The KBW Bank Index is up 1.9% in early trading. The transports are also up over 1%. That group, by the way, has been outperforming the SPX for most of 2016 and that’s a good sign for the health of the stock market. The dollar is down a bit this morning (and -3% year-to-date) and commodities are mostly higher. WTI crude oil is trading up toward $45.40/barrel. Gold is taking a breather after having surged 25% this year. Bonds are selling off as yields head higher. The 5-year Treasury yield is back up to 1.09% and the 10-year is up to 1.53%. It looks like it wants to move up past 1.6% in the near term. 


*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.

April 14, 2016

Stocks sank at the open, but quickly recovered (Dow +32 pts; SPX +.14%, Nasdaq flat). Telecoms are faring well (+.5%), as are bank stocks (+.8%) and airlines. Semiconductors, on the other hand, are down 1% in early trading and consumer staples are down as well. The VIX Index is settling nicely down around 13.5. Europe is poised to close up and Asia was higher overnight. WTI crude oil is flat, trading around $41.90/barrel and that’s really key to keeping this rally alive. Brent crude is trading up above $44/barrel. Bonds are selling off again.


*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.