Market Briefing For Friday, Apr. 30

Several of the FANG-type leaders have had sharp moves higher pre-earnings reports; which limits how much one can expect after a favorable report (and of course the opposite if they miss). Some are getting hit a bit. Earlier Thursday,Comcast admitted they lost nearly half a million customers, mostly from their switching to streaming services (of which there are almost too many; few with adequate news and financial channels incidentally). Twitter missed numbers, while Amazon made theirs (no surprise); the shares rose another 120 in what might be an incredible freaking by short-sellers (I keep warning about shorts).

Friday will most likely start strong; pushed by Amazon and Google initially. However that's more based on evidence than aspirational; as we have had in mind renewed risks during this seasonal time. But as usual (in fact wisely I guess) we are not fighting the Fed, nor fighting the trend as far as the S&P is concerned. Is it ludicrous to keep holding up; sure. But most large managers and funds won't risk losing position; until or unless compelled to.

1 2 3
View single page >> |
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.