The outperformance of tech over the last 3-4 months is noteworthy (Top Gun first noted it on July 5 “Tech Leads Market”). A number of prominent tech stocks such as Apple (AAPL), Google (GOOG), Research in Motion (RIMM) and Cisco (CSCO) are…
There’s a lot of news out this morning that has to make you a little uneasy if you’re a bull. Target (TGT) reduced its same store sales forecast for September from 4-6% to 1.5-2.5% (subscription required), raising questions about the…
As the market grinds through what looks to be a relatively slow, consolidation day, I took a couple hours this morning to review the quarterly earnings a bunch of investment banks released this week. Overall, Goldman’s earnings came in remarkably…
I just did a little interesting historical homework and researched the market reaction to Greenspan’s intermeeting rate cut on Wednesday January 3, 2001 from 6.5% to 6% – the last time the Fed cut the Federal Funds rate by 50…
It was a truly monster day on The New York Stock Exchange. 3043 of 3434 issues advanced – a ratio of almost 9 to 1. And up volume of 1.59 billion of a total volume of 1.6475 billion means that…
Today Bernanke and the Fed surprised most everybody with a 50 basis point cut to the Fed Funds rate. The cut has been a potent catalyst for the stock market (Tue 9/18/07, Close): Dow: +336 or 2.51% S&P: +43 or…
“There’s a bit of cautious optimism heading into the Fed meeting this afternoon.” – Robert Pavlik (subscription required), Chief Investment Officer, Oaktree Asset Management We’ve had quite a nice move in the markets over the last week plus. Since the…
On the front page of today’s The Wall Street Journal an article titled “Too Much Hope May Be Pinned On Rate Cut” (subscription required) nicely lays out the varying views towards the effectiveness Fed rate cuts tomorrow and in the…
Earlier this week, banks underwriting the buyout of Allison Transmission, an auto parts supplier, were able to sell $1 billion of a planned $4.2 billion in debt to investors (subscription required). The debt was sold at 96 cents on the…
“The stats are very bullish.” – Tony Rosado (subscription required), IAG Energy Brokers Oil closed today at an all time high around $80 a barrel. Despite OPEC deciding to raise production by 500,000 barrels a day yesterday, oil still managed…