D&D Note (1.19.2018) ~ Kicking the Can?

D&D Note (1.19.2018) ~ Kicking the Can?

As of market close we still have yet to get any news on whether or not there will be a government shutdown come midnight tonight. If the market is a gauge it would seem we will get the can kicked down the road as all three indexes are up on the day.

The biggest news of the day is the continuation of the rise in the 10YR note which is now at 2.654%. The yield has now crossed prior resistance of 0.263% and we could now see a technical breakout with further upside. Just how fast will the yield rise is the talk of the street.

The industrial company GE is… well THE Dog of the Dow. The stock just can’t find a bid and investors are struggling to reprice the sum of the parts when the company breaks itself up. Research from 6 months ago found that the price would be somewhere between $11 and $15 a share. Don’t get caught trying to catch a falling knife on this one.

IBM was the biggest decliner on the DOW after reporting earnings last night. While the earnings finally came in good the stock ran up into earnings and the margins decreased causing investors to ring the register today sending it down 4%.

D&D Movers:

– EMHTF up 5.67%

– NVDA up 2.53%

– MO up 1.56%

– WNS down -2.69%

– BA down -0.71%

– AAPL down -0.45%

Indexes

– DOW up 0.21%

– NASDAQ up 0.55%

– S&P up 0.44%

Sector Movers:

– Consumer Staples up 1.11%

– Consumer Discretionary up 0.87%

– Financials up 0.68%

– Utilities down -0.30%

– Energy down -0.10%

Bonds

– US 2-YR 2.065% (up .022)

– US 10-YR 2.654% (up 0.043)

– US 30-YR 2.926% (up 0.038)

Volatility

– VIX 11.37 (down -7.03%)

Crypto (1:00 PST)

– BTC $11,395.00

– ETH $1,032.31

– BCH $1,764.00

– LTC $191.60

Metals

– Gold $1,332.50 (up 0.40%)

– Silver $17.045 (up 0.54%)

– Copper $3.187 (down -0.38%)

Energy

– Oil $63.55 (down -0.63%)

– Brent $68.77 (down -0.78%)

– Nat Gas $3.185 (down -0.13%)