Diamonds and Dogs
9/19/18
Dividends paying dividends for the bank stocks. JPMorgan (JPM) is up 2.5% after hiking their dividend over 40%. The financial sector ETF is up 1.5% to a six month high. Plenty of good news for the banks with higher interest rates at a four month high, at least four dividend hikes, spin offs for various apps and divisions and rumors of a new CEO for Wells Fargo. Good day to be a banker.
Tech stocks taking a hit. The Dow Jones is up nearly a percent, but the FAANG stocks and the Nasdaq are in the red. Apple, Amazon, Microsoft, and Netflix are down over a percent. Google and Facebook are also lower. Facebook is down 26% in the last two months to a five month low. Looks like some rotation out of the best performing sector year to date.
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.
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