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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

12/6/18

Hewlett Packard Enterprise (HPE) is one of the few tech stocks trading higher following earnings. HPE is up 5% to a one month high after beating estimates by 2 cents as revenues rose 3.7% to $7.95 billion. HPE also gave in-line guidance for the current quarter and maintained guidance for 2019. Investors breathed a sigh of relief that guidance wasn't cut. HPE competes with rivals such as Amazon and Microsoft and is cutting costs as part of its effort to drive gross cost savings of $1.5 billion in the next three years.

Another bad day for the banks as Citigroup (C ), Bank of America (BAC) and Wells Fargo (WFC) fell over 3% to new 52 week lows. JP Morgan Chase is down 3% not far from a 52 week low as CEO Jamie Dimon made comments today saying the strong economy is being offset by geopolitical uncertainty -oil, Brexit and Chinese trade tariff issues. Jamie Dimon does not see recession risk from flattening yield curve, but a recession is possible in 2020/21. However the lower corporate tax rate is a significant tailwind.

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.