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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

9/13/16

Apple is shining today. Apple's stock (AAPL) is up 2.66%, the only Dow component higher, following news the iphone 7 pre-orders are off to a good start. Phone carrier, T-Mobile said pre-orders for the iphone 7 have shattered all previous iPhone pre-order records at their company. Sprint noted pre-orders are up more than 375% in the first three days. I assume AT&T and Verizon will have similar good news to report. Image how much the markets would be down if the largest market cap stock wasn't up today.

 

Oil glut is not going away. The energy sector is facing its biggest one-day drop in more than a month after the International Energy Agency warned that the global oil glut would continue into 2017 as OPEC continues to pump at near-record levels while demand growth remains subdued. Chesapeake Energy (CHK) is down 9%, Murphy Oil is down 7%, while Transocean (RIG) is down 6%.

 

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.