Tuesday, 25 November 2014

Closing Brief

Another very quiet day in market land, but once again, with new historic highs. The sp' settled -2pts @ 2067 (intra high 2074). The two leaders - Trans/R2K, settled +0.4% and -0.1% respectively. Near term outlook remains bullish into the sp'2100s.



*earnings due.. HPQ.

Little to add...

In many ways, the market should just close for the remainder of the year.

The NYSE could just add 3% to every stock.. and tell everyone to 'enjoy a long holiday', and 'come back Friday Jan'2nd'.  Its just a thought.

HPQ Q3 earnings... $1.06.. in-line, but revenue was a little lighter than market expected. Outlook is reasonable, and there is little reason why Mr Market won't eventually bid HPQ higher into next year.

Initial stock reaction is -3% or so, but really... earnings were unquestionably fine.

A daily wrap at 8pm EST.