Shhhhh, DO NOT DISTURB. That's the theme of the day. Robots (AI) and investors have done their work the past few days and pushed the major averages to be up on the month and now are quite content to let things sit. Those major averages (DOW, S&P 500, NASDAQ Composite) all finished up slightly today with the NASDAQ hitting another all time forever and ever high. So, now all you have to do is get up in the morning, do some buying and take a nap. Rinse and repeat each day and retirement gets closer and closer. Wheeee! Some things do need to be pointed out though. Yeah, I know, the one who turns down the music and puts the "funny punch" away is always booed and hissed. But
SOMEONE has to do it. So, pointy pointy, crude oil now under $49 a barrel, 10 year treasury now under 2.3% (again), economic numbers coming in a bit soft and something
HAS
to give. Tomorrow initial 1st quarter GDP is expected to be 1%BUT
our Atlanta Fed gang down the street here is looking at .2%.That's .2%.
I know, its all going to be really great later this year, but getting to 4%-5% GDP growth is a lot easier starting from 2% rather than under 1%. Just saying. Again, one or more of these markets isWRONG
. That's how it works.I am sticking with my "sell in May and go away" call and looking at multiple reasons which I will bring up in the next few writings. I am either brilliant or an idiot (its such a fine line) but keep in mind, it doesn't bother me........... my idiot/brilliant ratio is already at 10:1.
Now to the fintech sector since this is FintekNews The KBW NASDAQ fintech indexKFTX
closed at another all time high, up1.91
points (0.15%
) at 1160.43. There were 24 advances, 24 declines and 2 unchanged (same as yesterday). Just in case you want to follow: https://indexes.nasdaqomx.com/index/Overview/KFTX So, have a nice evening and don't forget to get up and do some buying before heading off to the weekend festivities.What could possibly go wrong?