Strong Durable Goods Report for June

More slow trading today. Medtronic ($MDT), Harris ($HRS) and WEX Inc. ($WEX) have touched new 52- week highs this morning. Some of our hot stocks like Ford ($F) and AFLAC ($AFL) are resting today. AFLAC has commented that they have no comment on media reports that there will be an alliance between them and Japan Post.

This morning, the government reported that weekly jobless claims rose by 7,000 last week to 343,000. We’re still near multi-year lows. We also had a very good report on durable goods. Orders rose 4.2% last month which was three times the rate of what economists had been expecting.

Facebook ($FB) is soaring today on its earnings report. Stay away. The stock is way, way too expensive. Facebook is currently up 25% today. The stock is going for more than 40 times next year’s earnings estimate. The stock is right around $33 today, the IPO price was $38.

Posted by on July 25th, 2013 at 10:32 am


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