Good morning.
Stocks, tech, bitcoin, silver and gold … down? That’s yesterday’s news … literally … as investors today are moving back into some of their beaten down favorite areas.
Earnings have started to trickle in and while companies are beating estimates, guidance is doing the heavy lifting … or the damage. Investors are no longer asking “what did you earn” but now shrug and say, “what happens next?”
Disappointment and worry seem to quickly bleed into the market during this earnings season in particular … possible due to the fast (too fast?) climb of AI stocks, bitcoin and precious metals.
It appears that Wall Street is now measuring success in pennies and any hint of slowing down in percentages.
And as far as most tech stocks are concerned, the focus has shifted away from “AI potential” and moved to “AI payoff” … with some disappointed that seeds that have been planted have not immediately grown into fully bloomed trees.
Still, we have the consumer continuing to boost the economy … even as employment numbers start to introduce a bit of concern. This is shown in plenty of surveys where consumers say “I’m really worried” … and then jump in their cars to go shopping.
One final thought on investor action today is that many will be treating Monday as a holiday … as projections (included in an article below) show that thanks to the traditional late Sunday start of the Super Bowl, Monday will see a record number of employees taking the day off. Of course, I am hopeful the Patriots blow out Seattle … and people will decide to turn off the game early … but people tell me I am dreaming.
Meanwhile, you might want to pay close attention to the last article below … as the claim is that many (and I mean many) candies that our children often eat have high levels of arsenic. And this is not one of those studies where you need to eat 1800 pounds of something to reach a problem level. Some of the amounts are easily reachable … and the food includes such things as Twizzlers, Tootsie Rolls, Sour Patch Kids and even a candy bar from Hershey’s.
That about wraps it up for today as I need to go out and buy some lozenges for a sore throat.
I went out last night to sing karaoke … but my wife refused to go with me …
… forcing me to duet alone.
Have a great day,
Joseph G. Witthohn, CFA
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