Simon Hobbs Goes Off On The Fast Money Traders
Unemployment and many other labor measures are at their worst levels in decades. – “Job Market Is Flashing Many Warning Signs” (subscription required), Mark Gongloff, The Wall Street Journal, July 9 Initial claims for jobless benefits fell to 565,000 for…
On the back of Google’s superb earnings report after the close yesterday, the market has taken off. The Dow has powered through 12900 for the first time in its history, up 124 points with an hour and a half left…
After Silicon Valley Bank (SIVB) failed Friday, its Northern California neighbor First Republic (FRC) was in the crosshairs Monday – dropping 62%. However: FRC is NOT SIVB. SIVB was a an aggressive bank focused on the tech startup community. FRC…
I contend that we have been in a trading range between 15,500 and 16,000 on the NASDAQ since the start of November. Which way that gets resolved will determine the direction of the market in the immediate term IMO. While…
As I turned on CNBC before the market open this morning and continued to read and watch what people were saying, I began to realize that there was a lot more expectation for a 50 basis point cut than I…
On a day when the S&P peaked its nose above 1100 for a few minutes in the morning, the market ended up having a severe late day selloff as respected financials analyst Dick Bove downgraded Wells Fargo (WFC) to sell…