The market got off to a raucous start this morning thanks to what were perceived as favorable earnings reports from Boeing (BA) and Apple (AAPL), both of which are major components of the Dow Jones Industrials Index. This was why the Dow led the rally among the big-three market indexes, but the NASDAQ 100 was the fastest out of the gate this morning as everything tech rallied with AAPL.
As the day wore on, all this opening earnings-related action took a back seat to the Fed policy announcement. As expected, the Fed did nothing, and the policy statement came off as quite dovish. This got the market rallying to the upside right after the release.
The rest of this report is available for Gilmo Report Members only.The full report will be available 45 days after it is posted. For immediate access: login
Gil Morales & Company, LLC (“GMC”), 8033 Sunset Boulevard, Suite 830, Los Angeles, California, 90046. GMC is a Registered Investment Adviser. This information is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to GMC, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Gil Morales & Company, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2008-2019 Gil Morales & Company, LLC. All rights reserved.