Investors breathed a sigh of relief Thursday and stocks rose following a tweet from President Donald Trump that said a missile strike in Syria wasn't imminent. With talk that U.S. may re-enter the Trans Pacific Partnership, it may look like sentiment could hold for the final day of trading for the week. I should note, however, that all the tenants of the previously volatile market are still in place, so anything is possible.
Earnings and results, actual numbers (amazing), helped set up Thursday's rally, explains TheStreet's founder Jim Cramer pointing to strong quarterly results from BlackRock (BLK) - Get Report and strong monthly numbers from Costco (COST) - Get Report . Blackrock sets up the banks reporting earnings on Friday (JPMorgan (JPM) - Get Report and Bank of America (BAC) - Get Report , among others). But it was a rare occurrence of a number of positive events all at once. Just don't get used to the green and black flashing on the big board, Cramer warns, as "it's not easy to put something together like today."
While markets ticked higher, oil prices retreated from highs as the Syria tensions crept into commodity trades. One Wall Street firm mocked the market reaction in a note. "Don't get us wrong," wrote energy-focused firm Tudor Pickering Holt wrote in a research note. "Global crude oil market fundamentals are on our side and we energy folks are thankful for whatever catalysts draw investor eyes ... but forgive us for feeling a bit like Charlie Brown racing enthusiastically toward Lucy's incorrigible football shenanigans." Bravo TPH, and happy to arrange a guest column if you're interested, but until then let's see if your top picks in Halliburton
(HAL) - Get Report and Hi-Crush Partners
(HCLP) pan out.
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Photo of the day: Bed Bath & Beyond fails to impress
Amazon (AMZN) - Get Report is coming for Bed Bath & Beyond (BBBY) - Get Report , according to TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer, and the proof is in the pudding -- of its most recent financial figures. Wall Street wasn't pleased with Bed Bath & Beyond's earnings, sending the stock down 20%. The company failed to impress on a number of metrics and failed to wow on the conference call Cramer said, adding that the company's outlook and current quarter numbers also don't look good. Read More
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