Yesterday, I was extolling the great performance of Tech stocks, only to see Big-Tech lag everything today… oh markets can be fickle…
Though the drivers of the Nasdaq (FB, NFLX, AMZN, AAPL, GOOGL) lagged…
most companies reporting earnings today exceeded expectations and there was some positive guidance as well. Now, these results are compared to the bottom-of-the-barrel expectations that analysts had predicted, so they should probably be taken lightly.
This shift has led to some fun two day factor performance charts, where major factors have seen dramatic shifts in just two trading days…
Now, investing is a long term proposal, and though these last few days have been wild factor-wise, they have done nothing to put a dent in the long term factor discrepancies that I highlighted yesterday.
On the fixed income side, most securities outperformed save for floating rate products.
On the economic release side, we’ll see existing home sales and that’s it. Earnings-wise we get to hear from Biogen, CSX, Kinder Morgan, Whirlpool, Las Vegas Sands, Microsoft, Chipolte and perhaps most the most exciting report of the day Tesla.
Warren Buffett is going big on non-renewable energy
Rental prices are plunging
iPhone sales may be plunging
Factset on the rise of renewables
An interview with Natalie Portman on LA’s new NWSL team
Jane Goodall on our future prospects
It’s not just school that may be canceled