Daily Comment
Daily Comment (October 26, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s Friday and equities are taking on water again this morning. Today’s weakness is due to disappointing earnings from two tech giants, Amazon[1] (AMZN, 1782.17), which is down 7.7% in pre-market trading, and Alphabet[2] (GOOGL, 1103.59), down 4.2% in the pre-market. We cover Q3 GDP in… Read More »
Daily Comment (October 25, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s the fourth day of what has been a tough week. Yesterday’s equity market sell-off was clearly a shocker. Although there is other news this morning, including the ECB meeting, we start today with thoughts about equities: Equity thoughts: Two weeks ago, in the Asset Allocation… Read More »
Daily Comment (October 24, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] It’s mid-week and equity markets are trying to find their footing. Yesterday’s action almost qualified for what a former boss of mine would call a “Hollywood finish.” That’s one where the market takes a beating in the early part of the day only to recover to… Read More »
Daily Comment (October 23, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Global equities are under pressure this morning. Note that China’s big rally yesterday was unable to hold. Earnings disappointments are being cited as the reason. However, as our earnings figures show, earnings are coming in a bit higher than expected. What is starting to affect equities… Read More »
Daily Comment (October 22, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Happy Monday! We are seeing a bit of optimism this morning as Chinese equities rallied overnight. There was nothing in the news that was necessarily bullish for China but a constant drumbeat of supportive statements from CPC officials has likely given investors the idea that the… Read More »
Daily Comment (October 19, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Global equities are mixed this morning due to concerns about a possible stand-off between the EU and Rome along with slower than expected GDP growth in China. Here are the stories we are following today: Italy budget: In a rebuke to Rome, the European Commission (EC)… Read More »
Daily Comment (October 18, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Good morning! Equities fell and Treasury yields rose due to the hawkish tone of the Fed minutes. There was not a lot of overnight news but below are the stories we are following today: EU trade truce on the rocks: The truce between the U.S. and… Read More »
Daily Comment (October 17, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Markets are mixed this morning as strong earnings led to a surge in tech stocks but weaker earnings from automakers due to rising costs are likely weighing on investors. Here are the stories we are following today: Mueller to release key findings: Special Counsel Robert Mueller is… Read More »
Daily Comment (October 16, 2018)
by Bill O’Grady and Thomas Wash [Posted: 9:30 AM EDT] Equities have rebounded this morning due to expectations of strong earnings, and Treasury yields are also trending upward as it appears tensions are easing with Saudi Arabia and China. Below are the stories we will be following throughout the day: Khashoggi death: On Monday, CNN reported… Read More »