Traders came into the morning expecting a strongly positive statement from the U.S. team after concluding 3 days of talks with China’s trade negotiators.

Apple just cut its iPhone production by another 10% and the World Bank just lowered its global growth forecast for 2019, and the stock

On occasion herein I’ll make reference to “short interest” or to the “shorts” when referring to traders who are betting that the market (or

To give you a feel for how sensitive the stock market is to the trade negotiations with China, here’s the Dow this morning: The

The Institute for Supply Management’s December services sector survey says the economy is still expanding, although at a slower pace of late. December’s score

Utilities: We stuck with our zero target to utilities throughout 2018, despite the end of year economic uncertainty that saw the sector slip into

Healthcare: In last year’s letter we expressed our view that, given our assessment of general conditions at the time, the healthcare sector — with

Once playing, click the icon in the lower right corner for full screen. Focus should occur after a few seconds; if not, click the

Materials: I could essentially copy and paste our outlook for the industrials sector and insert materials. Recall that I cited materials as vying for

This morning we’re seeing a nice extension of a rally that was initially sparked by positive trade news and better than expected data out