The Markets at 1 pm

At 1 pm, the stock market is having another good day. The S&P 500 has been as high as 2,038.70 today which is yet another all-time high. If we close higher today, it will be the 13th time in the last 18 sessions that we’ve rallied. That’s an amazing turnaround from a few weeks ago.

The stock market reached its previous peak on September 18 which was the same day that Alibaba ($BABA) had its IPO. The IPO was thought to be a flop; the shares pulled back to $82 from close to $100. But since then, it’s been on fire. Alibaba has been as high as $117 today. The company now has a market cap of $288 billion. It’s larger than Walmart ($WMT) or General Electric (GE).

I’ve been steering clear of Target ($TGT) for a few months now. I love the company but I’m not such a big fan of the stock. However, I have to concede that it’s rebounded impressively over the past few days. The shares were upgraded today by Oppenheimer. Earnings will come out again on November 19.

On our Buy List, McDonald’s ($MCD) is up by a tick. The company reported that same-store sales fell but by less than expected. Wall Street had been expecting a decline of 2.2% but MCD reported a drop of only 0.5%.

Posted by on November 10th, 2014 at 1:03 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.