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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

6/15/16

Steel seems to be the new diamond for the day. United States Steel Corp (X) surged 8% on high volume today. The steel company based out of Pittsburgh, Pennsylvania was upgraded this morning. Bank of America/Merrill Lynch upgraded the US Steel's shares to neutral from underperform. The upgrade came after positive guidance from rival Nucor, the largest US steel maker. Steel stocks and commodities in general have performed well this year, surprising many including me. US Steel's stock has more than doubled this year, but would have to double once again to get back to its highs from two years ago.

 

Our dog is missing a piece today making it no longer Whole. The Austin, TX based company, Whole Foods Market (WFM) dropped 5% back toward its 52 week low. The grocery store chain's shares dropped after the FDA announced they found "serious violations" at the company's Massachusetts plant. The FDA found listeria and other severe food-safety violations during several inspections in February. Let's hope Whole Foods can clean up their mess.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.