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MARKET OUTLOOK - Global & Local, Perspectives & General Market Feeling
plastic
post Posted: Nov 26 2020, 06:47 PM
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I guess the only thing to expect when the Dow keeps making all time highs is for it to keep making all time highs.
What's next? 40,000 points by Easter?




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What did Uncle Mel do to us?
 
early birds
post Posted: Nov 25 2020, 07:43 AM
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Wall Street closes at record high
Reuters

US stocks rallied on Tuesday and the Dow breached the 30,000 level for the first time, as investors anticipated a 2021 economic recovery coronavirus vaccine progress and the formal clearance for President-elect Joe Biden's transition to the White House.

Each of the 11 major S&P sectors were higher, economically sensitive stocks such as the financials, materials and energy names, while industrials hit a record.

President Donald Trump finally gave the green light for the formal transfer of power to begin on Monday, a process that was delayed for weeks despite Democrat Joe Biden emerging as the clear winner in the US elections. The General Services Administration told Biden he could formally begin the hand-over process.

Sentiment this week was also boosted by reports that Biden planned to nominate former Federal Reserve Chair Janet Yellen as Treasury Secretary, which could shift the focus heavily toward efforts to tackle growing economic inequality.

Recent data suggesting a COVID-19 vaccine could be available before the end of the year has put the S&P 500 on course for its best monthly performance since April and sparked demand for value-linked stocks that were hammered following the coronavirus-driven crash earlier this year.

"A little bit of decreasing uncertainty on the election front, the market seems pretty favorable on the Yellen announcement, it just seems like one of those good days where all things are moving a little higher," said Ross Mayfield, investment strategy analyst at Baird.

"If 2020 has shown us anything it is that stock markets have a tremendous ability to look past bad news if there is sun on the horizon."

Unofficially, the Dow Jones Industrial Average rose 454.57 points, or 1.5 per cent, to 30,045.84, the S&P 500 gained 57.82 points, or 1.6 per cent, to 3,635.41 and the Nasdaq Composite added 156.15 points, or 1.3 per cent, to 12,036.79. The Dow rose as high as 30,116.51 during the session.

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really thought the US market gonna consolidate before 26th/11 their thanks giving holiday. i got wrong. it just keeps go higher on the back the news!!



 
mullokintyre
post Posted: Nov 23 2020, 12:38 PM
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In Reply To: mullokintyre's post @ Nov 21 2020, 01:03 PM

Cancel that cyclone, the upperlevel trough has weakened.
Mick



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sent from my Olivetti Typewriter.
 
mullokintyre
post Posted: Nov 21 2020, 01:03 PM
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A reasonable possibility that come the middle to end of next week we will get the seasons first cyclone forming in the gulf off Burketown.
Be nice if it drops into a rain depression over the channel country.
Mick



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early birds
post Posted: Nov 20 2020, 12:02 PM
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https://daicompanies.zoom.us/rec/play/PV-SQ...x_zm_rhtaid=988

Index Overview: S&P 500 and Nasdaq

Focus List ideas: CRWD, OKTA, TWLO, AMD, MELI, BJ, LULU

Watchlist ideas: COUP, CRM, FISV

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mullokintyre
post Posted: Nov 20 2020, 08:57 AM
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In Reply To: early birds's post @ Nov 20 2020, 07:30 AM

The problem with all the global fund managers is that everything they say is geared towards conning more suckers to put money into their funds "to Manage". This of course means more money for the fund managers, not always the clients.
The best you can do is to look at what the big boys are actually doing, rather than what they are saying.
This of course, does not guarantee that what they do will make any more money than what they say will do.
From Wall street on Parade


QUOTE
According to the 13F filing that Warren Buffett’s Berkshire Hathaway made with the Securities and Exchange Commission for the quarter ending December 31, 2019, it held 59.5 million shares of JPMorgan Chase with a total value at that time of $8.29 billion. By June 30 of this year, that position had been trimmed by more than half, to 22.2 million shares. By September 30, one day after JPMorgan Chase had just admitted to its fourth and fifth felony count in the past six years, brought by the U.S. Department of Justice, Berkshire Hathaway’s position in JPMorgan Chase tallied up to just under 1 million shares, a 98 percent reduction from the beginning of the year, according to the SEC filing Berkshire Hathaway made on Monday.

And it’s not like Buffett is simply getting out of all big bank stocks. According to the same 13F filing for September 30, Berkshire Hathaway still held a whopping $24 billion in Bank of America stock; $4.7 billion in U.S. Bancorp; $3 billion in Wells Fargo; and $2.5 billion in Bank of New York Mellon.
Now the smart money seems to be saying it’s had enough. In addition to Buffett’s Berkshire Hathaway, George Soros’ investment arm, Soros Fund Management LLC has dumped all of its shares of JPMorgan Chase according to its 13F filing of September 30. That compares with the 258,252 shares it owned on June 30, 2020.


So from that, I would suggest that the smart money is rotating out of JP Morgan.
Not that anyone had been suggesting that would be a good play before they started doing it. That would have dropped the prices and they would have made less money.

Am I a cynical bastard?
You Bet!!!

Mick




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early birds
post Posted: Nov 20 2020, 07:30 AM
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Rotation has taken a firm hold on the investment thinking of big global managers, according to the Bank of America/Merrill Lynch survey for November.

The survey shows a net 24% of fund managers thinking that value stocks will outperform growth stocks, and a net 21% saying that small-caps will outperform large-cap stocks.

A net 91% say the economy will be stronger in the next 12 months. That’s in the face of the surging infection numbers and deaths in the US and across Europe.

Fund managers though are ignoring this grim reality (expecting vaccines to sort everything out) and positioning themselves with a big move into small-cap and emerging markets. They are underweight cash and staples.

News that two coronavirus vaccines have been effective (95%, Pfizer said on Wednesday for its product) — as well as the US election result (and despite Donald Trump’s refusal to accept the outcome) — have seen a big switch into energy, financial , and travel stocks.

The technology-heavy Nasdaq Composite is still registering gains — it ended at a record on Monday — but no longer is leading the market as investors sell down megatechs (as Warren Buffett did in the September quarter, disposing of 37 million Apple shares to help fund a near $US8 billion move into pharma and healthcare stocks).

A total of 216 panelists running $US573 billion in assets under management participated in the survey, which ended on November 12, which was after drugmaker Pfizer announced its vaccine effectiveness but before biotech Moderna did.

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early birds
post Posted: Nov 18 2020, 07:48 AM
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The S&P 500 Futures are sliding after they maintained their upward momentum yesterday. Investors' risk appetite was enlarged by Moderna's announcement of positive trial results of its COVID-19 vaccine.

Later today, the U.S. Commerce Department will report October retail sales (+0.5% on month expected) and September business inventories (+0.6% on month expected). The Federal Reserve will release October industrial production (+1.0% on month expected). The National Association of Home Builders will post Housing Market Index for November (85 expected).

European indices are searching for a trend. German Foreign Minister has declared he was "certain we will find a solution to EU Recovery Fund" after Poland and Hungary blocked the adoption of the 2021-2027 budget and recovery fund yesterday.

Asian indices closed slightly on the upside except the Chinese CSI which ended in the red.

WTI Crude Oil remains bullish. The U.S. Energy Information Administration (EIA) projected that the U.S. shale oil output would fall by 140K b/d to 7.51M b/d in December. Later today, American Petroleum Institute (API) will release the change of U.S. oil stockpile data for November 13.

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early birds
post Posted: Nov 17 2020, 10:10 PM
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https://www.cnbc.com/2020/11/17/walmart-wmt...-earnings-.html

Earnings per share: $1.34, adjusted vs. $1.18 expected, according to Refinitiv’s consensus estimates
Revenue: $134.7 billion vs. $132.2 billion expected by Refinitiv estimates
U.S. same-store sales: up 6.4% vs. gain of 3.9% expected by StreetAccount survey
In the third quarter, Walmart reported net income to $5.14 billion, or $1.80 per share, from $3.29 billion, or $1.15 a share, a year earlier. Excluding items, Walmart earned $1.34 per share. Analysts were expecting Walmart would earn $1.18 per share, according to Refinitiv.

Total revenue grew by 5.2% to $134.7 billion from $128.0 billion a year earlier, exceeding Wall Street’s expectations of $132.2 billion.

Walmart’s same-store sales in the U.S. grew by 6.4%, higher than the increase of 3.9% expected by StreetAccount survey.

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should be a pop up at open?? unsure.gif



 
plastic
post Posted: Nov 17 2020, 01:03 PM
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Craig Ventner mapped the human genome for about a billion bucks and took something like ten years. In about ten years or less, your GP will be able to map your genome on the spot with a hand held cassette and then email the results to the lab for the appropriate medication.

You can't stop progress.

That's why the Great Global Covid Reset is all about the state chiselling into the private sector. They want their cut. No different from the Gambinos, Genoveses and the other families.

Trump must get pissed off when he sees all these young IT kids with more money and power than him.



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What did Uncle Mel do to us?
 
 


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