Transcript
Hello, everybody, welcome to Thursday. Well, we had a good update today, the S&P 500 was up almost 1.2%. And the top of our list was Apple, up 3.7, Smart Mobility up 3.1 and semiconductors up 2.5. So, really good day, actually, especially after what happened yesterday, it’s really clawed back a lot of that loss that we had. And we’re still in this range, you know, that we basically started in the middle of the summer, and we’re kind of going up and down.
And so, you know, we’ll see where the direction goes. I don’t think we’re going to see strong direction until after the election. But some of the movers today were interesting, you know, there’s more talk about the stimulus again. So that’s tend to move things. We had several big companies that are reporting earnings after hours, Apple, of course, being one of them, Google, Amazon, and Facebook all report after hours. And so they all beat their expectations. And so that’s an important I mean, we’re seeing that time after time, right now, the analysts think the company is going to make a certain amount, and the companies keep making more long term, one of the strongest correlations to stock market growth is growth in earnings, we don’t always see it in the short term, sometimes a company comes out of the great earnings, but then they say something negative about their future outlook. And that ends up driving the price down in the short term and long term, it works out. And the companies move along. And one of the other advantages we’re having right now is by moving sideways, since the middle of the summer, is earnings are catching up to the price, you know, we’re a little expensive, and now we’re less expensive. And so once things settle down after this election is over, I’m not sure when that’s going to be.
But once they settle down, I think we could see some movement to the upside, just to kind of catch up with all these earnings surprises. You know, unemployment came out today, it was lower than expected, the gross domestic product came out today, it was really fantastic. And so things are developing well, and the market isn’t reflecting those. But it might eventually do so you know, after this election is over. And I also feel like after the elections over the stimulus talks will come back into play and start to drive that market forward.
So I think there’s a lot of things that say the market could do quite well. We might be in for some rough ride as we go through this election process, especially if it tends to get kind of messy, you know, we’ll have to find out. But hang in there. Because I think that the other side of that will be okay, really almost no matter who wins. There’s earnings that are being made. So let’s see what happens tomorrow. And I look forward to talking to you then. Thank you very much.