Tuesday, May 23, 2017

Markets have limited advance ahead of Trump's euro meetings

Dow gained 43, advancers over decliners about 3-2 & NAZ gained 5.  The MLP index added 1+ to the 312s & the REIT index was up pocket change in the 345s.  Junk bond funds were mixed & Treasuries drifted lower.  Oil advanced (more below) & gold was off 10 to 1250.

AMJ (Alerian MLP Index tracking fund)

Live 24 hours gold chart [Kitco Inc.]

3 Stocks You Should Own Right Now - Click Here!

Minneapolis Fed Pres Neel Kashkari sounded in no hurry to raise short-term interest rates.  Kashkari, who was the lone dovish dissenter against a Mar rate hike, told reporters recent soft inflation readings were "concerning" & said there still might be room to lower the unemployment rate without sparking price pressures.

Fed's Kashkari Says Soft Inflation Readings Are 'concerning'

Starbucks will be handing out free iced tea during its first summer "Frke to i-Yay" happy hour event at participating Teavana stores in the US & Canada.  The first happy hour event will take place 3-7pm on May 26.  Customers can choose from the Beach Bellini, Strawberry Daquiri & Pia Colada flavors.  Teavana will continue hosting the happy hours from Jun 2 thru Aug 11 & customers who purchase one 24-ounce featured iced tea beverage will get a 2nd of equal or lesser value for free.  In addition to the 3 above, Teavana will also feature Mandarin Mimosa.  The stock slid back pennies.  If you would like to learn more about SBUX, click on this link:

Starbucks To Offer Free Teavana Drinks During Friday Happy Hour Event

Starbucks (SBUX)

Microsoft, Dow stock, is refreshing its Surface Pro tablet with longer battery life & faster processors.  The new, 5th-generation device, simply called Surface Pro, won't look or feel drastically different from its predecessor.  But MSFT is hoping its under-the-hood improvements will help it compete with newer laptop-tablet hybrids.  The company made the announcement in Shanghai, China, in its first Surface launch outside NY, a reflection of the company's expectations of growth among a population that prizes premium gadgets from American brands.  MSFT pioneered laptop-tablet hybrids, also known as 2-in-1s, with the original Surface in 2012.  A keyboard cover turns the tablet into a laptop.  But innovation has slowed down since 2014, when the Surface Pro 3 got a fully adjustable kickstand to give the screen a broader range of viewing angles, similar to real laptops.  Before, the kickstand was limited to just 2 angles.  Meanwhile, other companies have made their own 2-in-1 devices running Windows 10.  That success contributed to a 26% revenue decline in the Surface business in the most recent qtr.  And competition is growing.  The company promises about 13.5 hours of battery life (50% more than the 9 hours on the previous device) the Surface Pro 4.  The processors inside will be faster & lower-end models will ditch the fan.  The stylus will now mimic pencil shading when tilted.  Along with this, MSFT plans upgrades to its popular Office software with new pencil-like features.  The stock went up 23¢.  If you would like to learn more about MSFT, click on this link:

Microsoft Surface gets battery boost, better viewing angles

Microsoft (MSFT)

Oil prices settled higher, buoyed by expectations that OPEC will reach an agreement to extend the production-cut pact for at least another 6 months.  Traders also weighed Pres Trump's plan to sell some US crude from the Strategic Petroleum Reserve as part of his broader budget proposal.  Jun West Texas Intermediate crude rose 34¢ (0.7%) to settle at $51.47 a barrel.

Oil Prices Mark Fifth Session Gain In a Row

Little was decided in today's stock market.  However, most of the big sell-off last week has been erased.  Stock buyers have not gone on vacation.  After meeting with the Pope, Trump's trip will take him to Belgium to meet EU biggies & lastly in Sicily (May 26-7) he will meet with leaders from the world's top economies where he will give his views on intl trade.  Meanwhile, the Dow is taking all the excitement around the globe with a sense of equanimity, remaining close to record highs.

Dow Jones Industrials


No comments: