Orbital ATK (OA)

September 18, 2017

Stocks opened higher this morning ( Dow +82 pts; SPX +.25%). Gains are broadbased, led by semiconductors, banks, and industrials. Only real estate and utilities are in the red. This is now officially the second-longest stock market rally in US history. The S&P 500 Index is up about 270% since March 2009 without a major correction (that is, more than 20% decline). Commodities are mixed in early trading. Oil is down 1% to trade around $49.30/barrel. Gold is down 1% today but has risen about 13% this year. Bonds are selling off as yields tick higher. The 5-year Treasury yield spiked to 1.83%. The 10-year Treasury yield is up to 2.23%. Remember, the 10-year was just over 2% a week ago, so this is a big move in rates. Last week’s Consumer Price Index (CPI) report suggested inflation is rising. And by the way, wholesale inflation is also picking up a bit. 


*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.

August 4, 2017

Stocks opened higher after the monthly jobs report. The Dow is up 20 pts and the SPX is up .15%. Financials, tech and materials are leading the way. And as you would expect on a day when interest rates rise, utilities, telecom and consumer staples are falling behind. The VIX Index is back down under 10 today, and European stock markets are poised to close up 1%+. The dollar is sharply higher, also due to the jobs report. And crude oil is trying to make another run toward $50/barrel. Bonds are modestly lower in price as yield tick higher. The 10-year Treasury yield is sitting at 2.28%. I don’t want to make too much of this; remember, the 10-year yield is right in the middle of its trading range going back several months. 


*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.

March 17, 2017

Stocks opened mixed this morning (Dow -11 pts; SPX flat). Some key groups are lower in early trading, including banks, transports, biotechs, and retailers. On the other hand, utilities, energy, telecom and materials sectors are in the green. The VIX Index is up around 11.3 (considered very low). VIX April futures are trading at 13.2, and have been trending lower this month. Commodities are mostly higher on the day. Oil is flat around $48.76/barrel. Over the past month oil prices have fallen about 8%. Bonds are mostly higher in early trading. The 5- and 10-year Treasury yields ticked down to 2.01% and 2.50%, 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.

October 18, 2016

Stocks jumped at the open on better than expected earnings announcements. The Dow and SPX are currently up 90 pts & .7%, respectively. Healthcare, the supreme lagger this year, is up 1.2% in early trading. REITs, basic materials and tech are also leading. The VIX Index is down to 15.7. European markets are poised to close up 1+% and Asia was up overnight. The dollar is flat and so is oil, hovering around $49.90/barrel. Bonds are mostly unchanged with the exception of a modest rise in junk. The 5- and 10-year Treasury yields are trading around 1.25% and 1.76%. 


*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.