Wall St’s feverish blues

In Uncategorized on 27/04/2018 at 5:10 am

In New York on Thursday, the S&P 500 rose 1% to 2,667, helped by FB’s results. Intel’s great results should help on Friday.

Earlier in the week, market was in the dumps because as NYT’s Dealbook put it

— Alphabet investors appear worried about its spending on new businesses. Could that drag down other tech giants?

— 3M met expectations, but lowered the high end of its earnings guidance. Its stock tumbled 8.5 percent.

— Caterpillar beat expectations — but its stock sank after it too issued a gloomy earnings forecast.

— The yield on the 10-year U.S. Treasury note broke through 3 percent, raising concern about how reliant the U.S. economy is on low interest rates.

— Trade war jitters haven’t gone away.

Rallies are being sold, while dips no longer attract buying.

(Last line added at 5.40am.)

  1. No worries man! A temporary 10%-20% churning correction. Another year to go for new higher highs to be reached. Mid-to-late 2019 will be the danger period.

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