Diamonds and Dogs
The Trump trade. 21st Century Fox (FOXA) is up a percent to a new recent high after beating earnings on in line revenue. Revenues rose 1.5% year/year to $6.75 billion. As one of the few conservative cable tv networks, Fox credits their investment in video brands, and programming to differentiate themselves. Maybe they should thank Trump.
The FAANG stocks are lower. Facebook, Apple, Amazon, Netflix, and Google are all down 2% or more. Chipmaker, Nvidia (NVDA) is down 3% ahead of earnings tonight. The stock may quickly turn into a diamond tonight. If not, there may be more downside for the FAANG stocks.
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