Diamonds and Dogs
Wells Fargo (WFC) is up 3% to a six month high thanks to upbeat comments at a Goldman Sachs conference. Wells Fargo is the poster child for what's wrong with big banks as one hand doesn't know what the other hand is doing. Even though the company continues to face fines and negative press, customers remain with the bank and now look to be doing more business with the bank that's too big to fail.
Toll Brothers (TOL) may pay a toll with the new government tax bill. Toll Brothers is down 6% to a one month low after missing earnings estimates. 2017 was a great year for Toll and the other homebuilders, but going forward the GOP tax proposals may put limits on property tax breaks and thereby hurting potential customers. Don't feel too bad for shareholders, the stock is still up 50% year to date.