1.Earnings Wrap Up….71% of S&P Beats Earnings.
S&P EPS UP 14% Y/Y IN Q3
FINANCIALS, TECH AND STAPLES EXCEEDING STREET ESTIMATES:As of last Friday, 474 of the S&P 500 Index companies have reported Q3 earnings, of which 337 have beaten earnings (71.10%) and 100 have missed (21.10%), albeit on lowered estimates. Furthermore, 70 out of 108 companies beat on sales. Thus far, 54 out of the 64 Financials that reported earnings and 54 of the 61 Tech firms that reported earnings have beaten estimates.
Rich Farr, Chief Market Strategist Jim McGovern, Market Strategist email@example.com
1.Rate Rise…Foreign Holdings of U.S. Treasuries Fell 0.7% in September Alone.
Foreign holdings of U.S. Treasury securities fell for a third straight month in September as China and Japan, the two biggest foreign owners of Treasury debt, both trimmed their portfolios – The Treasury Department says total foreign holdings dropped 0.7 percent to $6.15 trillion in September – China, the top foreign holder of Treasury debt, reduced its holdings 2.4 percent to $1.16 trillion in September – It marked the fourth straight month that China has cut back.
I had the best burger ever at Nomad Bar NY last night
1.Trumpenomics…Small Cap vs. Large Cap Post Election.
What a chart..This is small cap (iwo) vs. large cap (vv) post election…huge spike in leadership as dividend play gets whacked.
And IWM (small cap) also keeps going, another 83 million shares traded. In the last 4 sessions this fund has traded about 350 million shares and is up 8.9% in the past 5 sessions and the fund has also hit an all-time price high. SPY is up only 1.6% over the same 5 sessions