Diamonds and Dogs
A good day for the FAANG stocks. Facebook, Apple, Amazon, Netflix and Google are leading the Nasdaq to new all-time highs. Old techs Intel and Microsoft are higher as well following earnings. Intel, Microsoft, Netflix, and Google are at all-time highs. Jeff Bezos at Amazon will surpass Bill Gates today as the wealthiest man in the world valued at over $90 billion dollars. He's having a good day.
While the tech stocks look good, there are a lot of land mines out there. Travel website, Expedia (EXPE) is down 18%, retailer, JC Penney (JCP) is down 18% heading to zero. Merck, Western Digital, Goodyear Tires, Gilead, and Chevron are down at least 3% following earnings. The broader market is not looking so good.