Good Financial Morning… November 12th 2019

“Google’s Project Nightingale Gathers Personal Health Data (names, d/o/b, phone numbers, history, claims, treatments) on Millions of Americans.” 

This is a must read by everyone. They have AMASSED health records from Ascension facilities in 21 states – PATIENTS NOT YET INFORMED.


By KENNY POLCARI

As expected, the markets came under pressure as the sun rose over the Atlantic. Futures had been pointing lower and with global markets under pressure. It made some sense that the negative tone would wash over the US and with the Veteran’s day holiday yesterday. With banks and the bond market closed, it was sure to be a quiet day and it was (for the most part). Stocks opened lower and then…

Thank God for Boeing (BA). After news hit the tape at 11:40 am that Boeing was preparing to deliver new 737 Max’s  before the end of 2019 — whether or not the FAA has approved pilot training — the DOW went from negative to positive (BA is a DOW component) as the excitement over the return of this aircraft sent the algos into a frenzy. The Dow, which is a price weighted index, got a shot in the arm as BA rose more than $16 or 4.5% to $366/share, adding 108 points to the index value. That took it into positive territory as the afternoon progressed. By the end of the day, the Dow eked out a gain of 10 points while the S&P lost 6 points, the Nasdaq lost 11 points, and the Russell advanced by 5 points.

Now while the Dow did advance, the broader market, represented by the S&P 500, the “tech” market represented by the Nasdaq, and the US-centric small/midcap market (SMID) represented by the Russell, still suggests that the lingering US/China trade war, unrest in Hong Kong, concerns over political drama across Europe, and in the US and mixed macro data remain topics of conversation among the investing class. With the strong rallies seen across the globe in the last two months, many analysts are now suggesting that we might be a bit “overbought” on a short term basis. They’re saying a pullback that allows for proper digestion of the data is appropriate before the market can really consider moving ahead and breaking out (again) on a longer term basis. I mean look, over the past month alone, the Dow is up 3%, the S&P is up 4%, the Nasdaq is up 5% and the Russell is up 8%. And for the year?  +18%, +23%, +27%, and +21% respectively.

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