Stocks Pullback on Uncertainty in China

The stock market is down today. I think traders are a little nervous about the uncertain news coming out of China. As I write this, the S&P 500 is off by about 0.8%. There doesn’t seem to be a major theme to today’s trading. High Beta is down more than Low Vol, and Value is down less than Growth. Consumer Staples and Consumer Discretionaries are barely positive while the other sectors are down.

There’s not much in the way of economic news although two Fed members will be speaking later today. This Friday will be Jobs Day. On Wednesday, we’ll get the ADP report along with an update to the GDP report.

We have one Buy List earnings report coming next week when SAIC is due to report. Its fiscal Q3 ended on October 31. Wall Street expects earnings of $1.74 per share. The company has topped earnings for the last nine quarters in a row. The stock is up over 30% for us this year.

This is also the time of year when a lot of companies like to raise their dividends. In the next few weeks, I expect to hear from companies like Zoetis, Carrier Global, Stryker and Abbott Labs.

Posted by on November 28th, 2022 at 12:16 pm


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