Bond market is closed today for Veteran’s Day, meaning volume could be thinIt’s Veteran’s Day, and that means remember to thank the veterans you know. It also means we could have a thin market because bond trading is closed.
We just finished an impressive stretch with the S&P 500 Index now up five weeks in a row. Some of the momentum appeared to fade toward the end of last week, but that might have reflected pre-holiday consolidation and possibly a little profit-taking as investors lightened up. Meanwhile, the earnings picture takes a walk down the retail aisle as the week advances, with Walmart scheduled to open its books on Thursday. Those looking for clues as to the state of retail ahead of the holiday season—yes; Black Friday is 2 ½ weeks away—might look across the Pacific. According to media sources, Alibaba's annual Singles Day, the world's largest one-day shopping event, chalked up about $31 billion in sales—a new record.
With most of earnings season now in the rear-view camera, S&P 500 companies have reported a 2.4% average drop in EPS year-over-year, FactSet said. That’s the third-straight quarter of EPS declines. Revenue for Q3 is up 3.2%, the slowest revenue growth since Q3 2016. However, some might point out that these numbers are better than analysts had anticipated going into the Q3 reporting cycle.Other than the China trade drama, one thing that’s kind of missing from headlines lately is geopolitics.
As for China trade, it’s definitely one of the biggest issues in the mix and does have the potential to directly impact the market in many ways. However, it’s too easy to use China as a crutch for whatever the markets do on a given day, and many headline writers are guilty of that. Data Sources: S&P Dow Jones Indices, CME Group. Chart source: The thinkorswim® platform from TD Ameritrade.We’re closing in on the end of a very impressive year for the stock market. So far, Q4 hasn’t been anything like it was a year ago when volatility was soaring and major indices were plummeting in some cases into bear market territory.
Never forget, Trump stole millions from his fake Veterans charity to fund his hate campaign
In Canada we fire people that support veterans. Don Cherry, an 85 year old legend was fired for asking more people to support veterans. Sportsnet SportsnetPR DonCherryIsRight BoycottSportsnet
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