Weighing the Week Ahead: Which Stocks are the Tax Cut Winners (or Losers)?
The economic calendar is light, the week is short, and the A-Teams are taking some time off. It is the formula for punditry gone wild. But what will be the subject, especially if Bitcoin is not moving much?
I suspect questions of two types. The first will focus on the tax cuts, identifying the winning and losing stocks and sectors. The second will update the list of worries for 2018.
It is a time for pondering, navel-gazing, pontificating and wondering:
What does it all mean?
I plan to focus on the tax cut impacts this week and focus on 2018 worries next week. Readers can help with this by passing on their own top worries. See the Final Thought for more on how you can help.
Last Week Recap
In the last edition of WTWA speculated that passage of the tax cut might provide fresh lets for the rally. That was accurate for a couple of days!
The Story in One Chart
I always start my personal review of the week by looking at a great chart. In Chicago, if you ask a pro what the market is doing he probably says something like “SPU’s are up 6.” Futures trading on the S&P 500 is the fastest and most accurate way to summarize market action. Investing.com’s “Futures Overview” is an excellent interactive chart. If you hover over the “N’s” you will see the news callout at that point. Give it a try to see the quick reaction to various news events.
As usual, the weekly chart helps us see the moves, even though the overall volatility remained low.
Mrs. OldProf joins me in extending best holiday wishes to my readers. Knowing that people find these ideas useful means a lot to me. I especially appreciate those who pretend to laugh at my lame humor. Some day I will publish a list of things that I thought were funny!
This week I wrote a short and fun piece aimed at helping people sort out their reading sources. I hope you enjoy it, and find it helpful. You would be surprised at how often I chat with a new client about what they are doing and evaluate their current portfolios. Mike (my associate portfolio manager) and I can nearly always identify their favorite sources.