Whetro Morning Market Update May 21

Stocks saw a rally yesterday on news from the bond market and a slight drop in crude oil prices. Tim has details

Episode Transcript

Speaker 1 (00:01):
How are you, mister Wheetrow.

Speaker 2 (00:04):
Brad, I'm fantastic. It's many Friday and you know it's
gonna be.

Speaker 1 (00:09):
A little cool, but hey, suns out, it is a
mini Friday. We're this close to entering the weekend, and
things actually yesterday rallied a little bit, the bond market
eased back, some oil prices stroll a little bit, and
video actually reported after the bell, So we'll get the numbers.
We'll get the numbers from that. What went on yesterday?

(00:32):
Why did things start to go back up again all
of a sudden.

Speaker 2 (00:36):
Yeah, they're getting at upo a bit. Let's look at
where oil is right now. From yesterday, we were at
one hundred and two and forty cent yesterday, we're now
at ninety seven dollars and sixty five cents. That helped
all right, man, was one hundred and nine dollars. Is
down to one hundred and four this morning, even though
the gas prices aren't really moving a whole lot. This
will come in a few days, I would think if

(00:56):
that bell continues to go down. But we also had
interest rate you'd started coming down. That's what's giving fuel
for this market. And then we had Nvidia coming out
after the market with their earnings, and they did beat
on both sides. Uh. They came in at eighty one
point six billion in revenue and they were expecting seventy
nine point one one nine on that very good. But

(01:18):
right now there, it's a little flat with the futures
this morning. But as we saw yesterday, we will see
again today. The Dow ended yesterday up six hundred and
forty five points, which is one point three one s
and P up seventy nine points, which is a little
over one percent at one point zero eight. Nazek up

(01:38):
almost four hundred points three hundred ninety nine points sixty five,
a little over one and a half percent to the positive,
and the Russell came up seventy point two nine points,
which is a little over two and a half percent,
which puts them here today at thirteen point five to two.
So yeah, a lot of movement upside. But I want
to highlight when I look at some of the top

(01:59):
formers U in the S and P five hundreds, I
go to look at this and them, they list about
fifteen of them here on the Wall Street Journal UH
web website, and the first thing I see for Red
United Airlines holdings up nine point ninety nine. Really that
to see super Micro which was right underneath them at
nine point four nine, but then Delta up nine point

(02:20):
thirty nine, Carnival eight point ninety six, and the crew
don't leave the cruise lines out norwegion up eight point
three eighth. So if you if you look at that,
that all goes back to gasoline or oil, and that
oil coming down. They say, okay, we can do you know,
we can fly peop around. We put people on a
cruise boat a little less expensive. So the.

Speaker 1 (02:46):
Future cost of this, that's they're not looking.

Speaker 2 (02:50):
At any movement. Yes, yeah, Bread absolutely because right now
in Ohio we actually went up a little bit in
costs this morning, you know, two cents file gas average
from triple a four and seventy six cents diesels zero
movements still a five hours and sixty five cents. So
I don't like putting gas in the car. It is

(03:10):
more about forty percent more than where we were. Very uncomfortable,
but you know, I love seeing the oil go down.
But again we're looking forward.

Speaker 1 (03:18):
Yes, Dad, absolutely, what did the what did the bond
market do yesterday? Because people have been watching that and
that's where some of the some of the markets back
a little bit at least.

Speaker 2 (03:28):
You know, you bet your ten yure yesterday was at
four point four point sixty four. We're sitting right now
at four point five seven. The two year was at
four point zero nine, is at four point zero six.
Those little moves make a difference as well, just as
well with the gasoline. Uh. If we look at companies
coming out with their earnings today, a big day Walmart,

(03:50):
deer In Company, Ross Stores, Williams, Sonoma, and work Day
just to name a few. There on the economic calendar,
we have initial jobless claims, housing starts, building permits, and
a manufacturing number from PHILADELPHIVT. So we got a lot
of big news coming out today. But I'm you know,

(04:11):
futures right now. The Dow, Nadak versue me. The Dow,
the SMP are positive right now, just a little, but
they're all kind of flat negative on the SMP a
little bit, but we'll see as it opens up at
nine thirty this morning.

Speaker 1 (04:24):
All right, excellent. It's not for the faint of heart,
that's for sure, which is why you should call Tim
and have a sit down with him. Four one nine
eight two four thirty three hundred or hit him up
with an email. Tim w at Witrow Advisors dot com
go into the office for that initial sit down meeting.
You can also find them on LinkedIn and of course

(04:46):
on Facebook. Advisory services were offered through Capital Investment Advisory
Services LLC, and securities are offered through Capital Investment Group,
a member of finraw s I p C.