{+++}Financials put on another strong performance, but the broader market was slow to follow. Even after a late lift, the S&P 500 finished the day with only a modest gain. After the close, ALOG, ESL, GMCR, LTRE, NSM, PLL, QTWW and SEAB were the most notable names that reported. Eight of the ten sectors were in positive territory, led by financials (+1.3%), telecom (+1.1%), consumer staples (+0.4%).
GMCR is down 17% in the after market after soft guidance. We have seen the largest drop in government bonds recently since the fall of Lehman Brothers. We now owe more than $4trillion abroad and that interest adds up fast.
I added TZOO and small stock REDF as longs today. Market permitting, both look good for the days ahead.
The market has been consolidating for five days now in choppy action. The bulls need to get some giddy up in their step soon or news could start weighing on prices. For now, things look higher. Have a great night.
PLEASE CHECK STOPS AS MANY HAVE BEEN ADJUSTED