RADIO SHOW 10/18
Let’s face it. There are a million financial talk show hosts out there all of them can recite chapter and verse of the daily market trends. But, how many can give your listeners an inside look at what’s happening in the market? Gary Kaltbaum brings decades of experience and a no-nonsense approach to politics and investing.
After a growth slaughter yesterday in SOFTWARE/CLOUD names, major indices act fine but continued range-bound here. It’s earnings season.
NFLX up nicely recovered a bunch of recent losses.
But IBM and UNP no help. IBM numbers terrible.
Futures up as NFLX helps…AMZN up in sympathy? That’s what someone said.
Also, after 3+ years, we may have a Brexit. Yipppeeee!
Questions that were not asked last night. As always, these questions contain lots of facts. (What a concept!)
Something about China/Hong Kong and a house resolution hit futures but not that bad.
BUT as we write this:
WDAY down $17…COUP down $10…ADBE down $9…NOW down $20…MDB down $6… INTU down $5…CRM down $4…VEEV down $5…not sure blow-ups on some downgrades and WDAY just saying expenses may go up a little bit is a good thing for this group. Keep in mind, this group has been struggling for a few months now.
Also…leading SEMICONDUCTOR name down $9 on their earnings.
But FINANCIALS acting better off of earnings. Major indices (the big 4) continue to act better.
Quiet day yesterday but do not forget, Powell now performing QE at $60 billion/month. Markets have loved this for 10 years so we are on the balls of our feet.
BUT…we are now in earnings season. Pay attention to the reactions, less the words. Estimates are for earnings to be down year over year so some are negative. Remember, markets look forward.