Diamonds and Dogs
GM (GM) is breaking out. GM is up 2% today and up 14% in the last month thanks to an upgrade and pending demand to replace all the cars and trucks destroyed in the recent hurricanes. Over a million cars and trucks will need to be replaced in Texas, not to mention Florida. The analyst at Deutsche Bank upgraded GM saying GM and not Tesla, is a better bet on the autonomous vehicles going forward.
FAANG stocks taking a hit. Its quarter end and money managers seem to be taking profits in the tech sector. Apple is down a percent, Google is down nearly 2%, Facebook down 4%, Netflix down 4%, Amazon down 2%, and chip stock Nvidia is down 4%. Not a good way to start the week.
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.