Market opens flattish as the DOW and S&P are trying to hold the significant 18K and 2100 levels. Oil completely reversed the selloff from the Doha meeting, and WTI is back above $40. Earnings thus far have come in with a negative tone, much of it having to do with weak guidance, but the overall Market is holding in impressively well. Intel joined the job cutting campaign when they reported earnings. Overall demand continues to be on the weak side, and companies continue to focus on efficiency and earnings rather than advancement. We want to see revenue growth driving earnings, not cuts. Longterm investing is lacking.
Donald Trump and Hillary Clinton banked decisive victories in New York last night, ending losing streaks for both campaigns as they moved significantly closer to their party nominations. Both landed about 60% of the Republican and Democratic vote securing a lot of delegates in the Empire State. This was largely expected. The next important date is April 26, which will see primary contests in Connecticut, Delaware, Maryland, Pennsylvania and Rhode Island.
Have a great day.
Mike
