Martin Luther King Day holiday market hours are as follows: CME Group Holiday Schedule
Friday, January 17:
Stocks rallied to new records today, with the tech sector leading the way.
There wasn’t anything of real significance on today’s economic calendar. But optimism over a “Phase One” deal (expected to be signed on Wednesday) and news that the U.S. removed China from its list of currency manipulators helped fuel today’s market rally.
After a higher start, stocks never looked back.
There was a pause in the rally as major indices traded sideways in the afternoon. Then a rally in the last 15 minutes of traded helped the major indices finish the day at highs.
The DOW struggled to make new highs today and lagged behind the major indices with just a 0.3% gain today. But the S&P and NASDAQ made new records.
Here’s where the major indices ended the day:
Tesla (TSLA) rocketed higher and hit record highs after an analyst upgrade. The stock traded above $500 for the first time ever and was up 9.8% after Oppenheimer raised its target to $612.
Tomorrow traders will keep eye on earnings from JP Morgan Chase (JPM) and CPI data in the morning at 8:30am ET.
The Phase One deal will also be in the spotlight this week. But unless there are any surprises, optimism over the deal has likely been priced into the market.
We all have a battery inside us... or something like a battery.
I envision it as a combination of our physical energy, attention, and overall "bandwidth" all rolled into one.
We can replenish this on a daily basis to a degree with rest, exercise and good nutrition, but not all the way.
Weekly we need at least one day off free from technology to rest and recharge.
Monthly and quarterly we need a little more than that.
If you neglect this and push and push and push all the time, eventually your battery will run critically low.
First, it'll fail you at seemingly random times.
Next, it'll give out when you least expect it (but usually at a critical moment. But then, when you're burning the candle at both ends, isn't every moment critical?).
Finally, if you keep pushing with no break, you'll shut down completely and the battery not only runs dry, but you risk damaging it for future use.
This is not permission to be a lazy idiot.... but it is a warning against going so hard for so long that you burn out.
It's fine to sprint for an extended period, but understand that if you make it a lifestyle as you run the "race" of life, it WILL bite you in the butt.
Plus, life is really short.... take a little time to enjoy it and find balance.
A word to the wise
Happy weekend! :-)
sectors in play -- energy (as a result of the IRAQ attack, -- concern about oil price spiking), utils & consumer staples -- flight to safety.
GM, all. Firstly, we hope 2020 is off to a good to start for you. -- Re the first trading day, obviously no one is looking to lock in any 2019 profits yet. It's risk-on. An outside day today. Price now in daily supply. Doesn't mean it will hold & extended prices can extend further. But supply should at least provide some initial resistance.
Market Environment - pre-open-- another inside day brewing, but starting to think about & plan for Thursday, first trading day of the year. People holding off on selling now to put off the tax implications for an extra year. Once the calendar ticks over they're free to sell. Will have high quality DZs, esp those in higher TFs, mapped out in preparation for when expected retracements occur.
Market Environment -- clear outside day on equity indexes & 10-year note.
The prior days trading range is a useful indicator of a hospitable trading day.