E Working Hard

Friday is proving to be a day when we work hard for a living, after a bunch of market shocks.

First Amazon AMZN proved to be running dry and this hit the tech sector. Then Robin Hood's initial public offering crashed overnight and further spooked markets. The new brokerage turned into a short sell.

Instead of Robin and Maid Marion were in the clutches of the Sheriff of Nottingham when the SEC froze a bunch of Chinese new issues because of Beijing's ban on giving foreigners normal data on sales and earnings. China will stop allowing this data to be published outside the country to retain control over hot issues from companies in sectors like tech, electric vehicles, college prep crammers, and other sectors we can only guess at.

Photo by Adeolu Eletu on Unsplash

Meanwhile, the crackdown on dissent in Hong Kong, the normal former UK alternative market for Chinese stocks, is hurting. Another attack on Macao gambling concessions is hurting the former Portuguese colony. And even Doc Martens stock fell in Britain on fear of shipping delays for the hot footwear firm.

Then the positive US consumer spending growth figures triggered a new fear of inflation. And my website remains inaccessible to me while the Mexico tech team refuses to believe me when I tell them this. 

For whatever it is worth, there are some positives too.

Rival shoe firms Crocs and Bootbin rose on the drop in Doc Martens, Being the grandmother of three lads I noticed that my local Doc Martens shop in east midtown was running sales at attractive prices but luckily I don't have outlines of the boys' feet so I cannot shop for them. I am still locked out of my website by the Mexican tech team but they don't believe me when I tell them this. 

More from our shares:

Healthcare

*Thermo Fisher Scientific, TMO, my biggest US holding, gained 1.59% early today hitting a 52-wk high at $$536.55. It later fell back.

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William K. 1 month ago Member's comment

Certainly hard work will often accomplish something, but it may not always be the intended result.