Transcript:
Tom Vaughan:
Hello, everybody, welcome to Monday, the S&P 500 was down point 3%. Today, really interesting day in the sense that, you know, we started up a little bit, and then we got the durable goods order that came out, and durable goods orders up more than expected. And right now, good news is bad news, just because we kind of looking for things to slow down. And it went up point 7% expectation was that they will go up point 2%. And this is the weird environment to get into in these higher inflationary situations. We’d like to see things, you know, slowing down some so that the Federal Reserve can maybe back off from some of their rate increases and rhetoric and what have you. So we’ll see how that plays out. But the rest of the day, it actually stayed in a very, very tight range and just kind of went sideways. And I think a lot of that has to do with the fact that we’re just hitting some resistance. We had a period of time about three weeks ago that we kind of had some support, and we’re bouncing off of that and and fell through it. And what was support becomes resistance. And now we’re kind of bumping into that. And we’ll see what happens if we break through that resistance, you know, we’ll go actually a bit higher, actually, there’s some room to run there with less resistance for a little while. But we’ll see how this plays out.
We do have a lot of things going on this week, a lot of economic reports that are coming out. Nike did report earnings after hours, and they beat analysts expectations. And they’re an interesting one to watch because of supply chain issues and all the different things with dealing with inflation as such to so they were able to actually have more profit than what was expected. So that’s a good thing. They did that again, last quarter. So we did eventually see some other companies like Target have problems. So we’ll see how this goes throughout the earning season. But today was good as far as Nike goes. So nonetheless, that’s what’s happening today. Look forward to seeing what’s gonna happen tomorrow. We’ll talk to you then. Thank you very much.