1. Entering Strong Seasonal Month with Under Allocation to Equities by Most Investors.
Daily Top Ten – November 23, 2016
Happy Thanksgiving!
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 info@bluestonecm.com
Daily Top Ten – November 22, 2016
1.Risk Happens Fast with ETFs…$546 Million Pulled from EM Bonds in One Week.
Emerging Markets Biggest Outflows Since 2004
Strong dollar will make foreign debt more expensive.
Daily Top Ten – November 21, 2016
1.Seven Days Following Election $44.6 Billion Flowed into Equity ETFs…Second Biggest Surge on Record.
Investors were under allocated to equities coming into election.
Daily Top Ten – November 18, 2016
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.
