June 22nd, 2015, A Day For Reflection or Inflection?
Over at a financial forum....
P: "As noted by the WSJ this morning (via Deano), AAPL alone accounts for 12.5 points of the S&P 500s 72-point gain this year. That's 17%! Amazon (NASDAQ:AMZN) was 7.5 points (10%), Google (NASDAQ:GOOG) (NASDAQ:GOOGL) is in twice, Disney (NYSE:DIS), Facebook (NASDAQ:FB), Gilead (NASDAQ:GILD), NFLX, JPMorgan (NYSE:JPM) and Pfizer (NYSE:PFE) essentially made up the rest and EVERYTHING ELSE got dumped (relatively). Is that a healthy market when 15 stocks gain while 485 lay flat?"
Somebody we know said June 22nd would be an inflection point....
June 22nd: Tech tanks... "Disappointment over U.S. corporate earnings pushed stocks lower on Wednesday, after a whole host of companies' results fell short of Wall Street's expectations. Dim outlooks and guidance were seen at Apple (NASDAQ:AAPL), IBM (NYSE:IBM), Microsoft (NASDAQ:MSFT), Yahoo (NASDAQ:YHOO) and United Technologies (NYSE:UTX), while commodity producers deepened declines. U.S. shares closed Tuesday's session in the red, as the Dow fell 181 points, and the stock market recorded its first broad decline in four days."
June 22nd: Just one more point on Grexit from the Guardian: Back in Athens the spectre of dissent possibly disrupting any agreement has already begun.
On leading Syriza party MP predicting that the Greek government’s proposals will never get through parliament, reports Helena Smith.
#Syriza MPs already saying measures will never pass.
Leading Syriza party cadre Alexis Mitropoulos, who is also vice president of the 300-seat House, has spoken out against the government’s proposed reforms telling STAR TV this evening:
“My personal view is that these measures cannot be voted, they are extreme and anti-social. I believe that in the end, this package which you have at hand, cannot come to the Greek parliament.”
Earlier this week, the Fat Lady was humming, and she might have just hiccuped. The Greek Parliament should vote before Midnight, June 22nd.
Tsipras has 162 seats in the 300-seat parliament. But last week's rebellion cut his support to just 123 votes. Despite last week's rebellion by 39 deputies and planned protests, the legislation is all but certain to pass, after opposition parties said they would back it.
Update: A total of 230 MPs backed the economic reforms programme demanded by Greece’s creditors, while 63 voted against the plan at the late night vote.
Alexis Tsipras again faced down rebels within his own party who oppose a third bailout. Thirty six Syriza MPs either voted no or abstained, three fewer than at a similar vote last week.
The vote clears the way for Greece to begin formal talks with its lenders on a three-year package of loans that could be worth €86bn.
Sounds like she's humming again, but, it ain't over, till it's over.
P: "As noted by the WSJ this morning (via Deano), AAPL alone accounts for 12.5 points of the S&P 500s 72-point gain this year. That's 17%! Amazon (NASDAQ:AMZN) was 7.5 points (10%), Google (NASDAQ:GOOG) (NASDAQ:GOOGL) is in twice, Disney (NYSE:DIS), Facebook (NASDAQ:FB), Gilead (NASDAQ:GILD), NFLX, JPMorgan (NYSE:JPM) and Pfizer (NYSE:PFE) essentially made up the rest and EVERYTHING ELSE got dumped (relatively). Is that a healthy market when 15 stocks gain while 485 lay flat?"
Somebody we know said June 22nd would be an inflection point....
June 22nd: Tech tanks... "Disappointment over U.S. corporate earnings pushed stocks lower on Wednesday, after a whole host of companies' results fell short of Wall Street's expectations. Dim outlooks and guidance were seen at Apple (NASDAQ:AAPL), IBM (NYSE:IBM), Microsoft (NASDAQ:MSFT), Yahoo (NASDAQ:YHOO) and United Technologies (NYSE:UTX), while commodity producers deepened declines. U.S. shares closed Tuesday's session in the red, as the Dow fell 181 points, and the stock market recorded its first broad decline in four days."
June 22nd: Just one more point on Grexit from the Guardian: Back in Athens the spectre of dissent possibly disrupting any agreement has already begun.
On leading Syriza party MP predicting that the Greek government’s proposals will never get through parliament, reports Helena Smith.
#Syriza MPs already saying measures will never pass.
Leading Syriza party cadre Alexis Mitropoulos, who is also vice president of the 300-seat House, has spoken out against the government’s proposed reforms telling STAR TV this evening:
“My personal view is that these measures cannot be voted, they are extreme and anti-social. I believe that in the end, this package which you have at hand, cannot come to the Greek parliament.”
Earlier this week, the Fat Lady was humming, and she might have just hiccuped. The Greek Parliament should vote before Midnight, June 22nd.
Tsipras has 162 seats in the 300-seat parliament. But last week's rebellion cut his support to just 123 votes. Despite last week's rebellion by 39 deputies and planned protests, the legislation is all but certain to pass, after opposition parties said they would back it.
Update: A total of 230 MPs backed the economic reforms programme demanded by Greece’s creditors, while 63 voted against the plan at the late night vote.
Alexis Tsipras again faced down rebels within his own party who oppose a third bailout. Thirty six Syriza MPs either voted no or abstained, three fewer than at a similar vote last week.
The vote clears the way for Greece to begin formal talks with its lenders on a three-year package of loans that could be worth €86bn.
Sounds like she's humming again, but, it ain't over, till it's over.
Comments