Charles Payne's  Instablog

Charles Payne
Send Message
Wall Street Strategies has been providing independent stock market research since 1991 to individual, retail and institutional clients through a balanced approach to investing and trading. Charles Payne, our founder and chief analyst, is routinely sought after for his stock market, political,... More
My company:
Wall Street Strategies, Inc.
My book:
Be Smart, Act Fast, Get Rich
    May 2, 2014 1:38 PM

    The market is grappling with so much information after a very mixed read on jobs. Yes, that spike was amazing, but the exodus from the jobs market was even more jaw-dropping. Gold has been edging higher and this underscores the notion that maybe this news will influence a change in plans at the Fed; however, the bond-price action says the exact opposite.

    Earnings season is winding down and I think it was better than last year, with top-line growth at most companies edging a little higher and there were very few misses. That being said, the reaction to earnings has been harsh; which is both good and bad. It's good in the sense that I want sellers out of the market now rather than later, but it's really not great for the notion of investing in general.

    (I've never been a fan of quarterly reporting, and the myopic focus on a penny missed here or there. More people get shaken out of great companies during this period than any other time...even from outright fundamental scares.)

    I would rather everyone keep their powder dry going into the close/weekend.

    Also released this afternoon were US factory orders, which increased by 1.1% in March after increasing from a downwardly revised 1.5% in February, but fell short of consensus expectations of a 1.6% increase. This is the second consecutive month where factory orders have increased, which is encouraging considering the level of worry that the winter weather would have on these figures. Inventories are slightly down from last month, meaning they will need to be replenished at some point in the next month or so. All in all, increased levels of backlogs should keep the manufacturing production levels strong, even though demand remains uncertain.

Back To Charles Payne's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.