Friday is here.
The Tariff Stats You Need to Know
If you are a trader with 15 screens on your desk, you have to like the market's fighting spirit this week. The two times Trump has tried to take down his market, stocks have fought back from initial hysteria lows. Last night, for example, Dow
Once Hot Tech Names, the Latest
Respectable rally in the NYSE FANG+ Total Return Index off the late March lows. At 2,480, the index is up about 3% from its lows. It closed above both the 50-day and 100-day moving averages early in the week. Next test of the rally is the 200-day moving average at 2,535.83. Rallies in Tesla (TSLA) and Action Alerts Plus holding Amazon (AMZN) the most evident from among the index.
Jolt Investing Tip of the Day
You know you are becoming an old market wizard when you see the same things happening today as at other key points in the market in years past. With trade war fears rising, interest rates hikes the new normal, inflation lurking and an unpredictable president, the market yahoos have begun to crawl out of the woodwork with crash calls. On at least three occasions this week, I have seen 40% to 50% market crash calls made my seemingly credible people at reputable financial services firms. The motives for these calls often range from wanting to be on TV more (and get paid for it) to spooking the average investor so more sophisticated ones (aka their clients) could get in at lower prices. You want to remember the motives of these folks when seeing their stuff plastered all over the internet. Do not panic. Do not liquidate your entire stock holdings. Do not buy a bomb shelter. Stay disciplined. Feeling nervous? Call your financial adviser to learn what they are seeing in the markets and to discuss if any changes need to be made in how your portfolio is allocated. Now have a lovely weekend (and check back on Saturday morning for the latest from TheStreet).
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