Monday, July 3, 2017

"Fool Me Every Time, Shame On Me"

The Bank heavy Dow was the only index to reach a new intra-day high today. The Nasdaq got monkey hammered...

"The Dow Jones industrial average notched a record high before closing about 130 points higher, with Goldman Sachs contributing the most gains. The S&P 500 rose 0.23 percent, with financials and energy leading advancers. The Nasdaq composite lagged, trading 0.5 percent lower."


"Energy stocks also caught a bid, with the Energy Select Sector SPDR ETF (XLE) advancing 1.9 percent."

"There's new leadership emerging in the market," said Peter Cardillo, chief market economist at First Standard Financial. "That should keep us from faltering during the summer months."

If you want to avoid fake news, always look beyond the headlines...

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 11.2.

"Goldman Sachs contributing the most [Dow] gains"

"Fool me every time, shame on me"