Market 2018-03-09 (North Korea, Job report, and more)

Market opened high, before going higher amid two pieces of news.

1. Job Report: 313,000 jobs were added last month vs 200,000 expected. The average hourly wage grew by +0.1%, which is lower than 0.3% in Jan. This report means labor market is still strong, and the inflation might be in control so far.

 2. North Korea: Trump announced yesterday that he would meet Kim Jong-Un in May. As always, there will be twists. The White House said today that Trump will not meet with North Korean leader Kim Jong-un unless he sees some "concrete" action by Pyongyang. I guess this will go to nowhere after all.

Crude +3.18% to $62.03. Gold +0.14% to $1,323.60. UUP flat, TLT -0.66% as treasury yields rise a little. 10-yr Treasury stands @ 2.89% today.

Winners

Financials up big today: JP Morgan (JPM +2.8%), Wells Fargo (WFC +2.7%), Citi (C +2.7%), Morgan Stanley (MS +3%), GS +1.6%, V +1.9%, MA +2.2% and Amex (AXP +2.5%)...

Google +3.1%, Waymo launching self-driving truck pilot program in Atlanta. NFLX +4.6%, FB +1.6%, AAPL +1.7%, AMZN +1.7%.

Party City (PRTY +7.4%) after ER beats Q4 EPS of $0.81 beats by $0.01. Revenue of $789.58M (+5.4% Y/Y) beats by $8.49M.

WYNN +5.4% jumps on sale rumor, despite CEO says the company isn't for sale.

UNFI +5% after ER beats.

Losers from yesterday: KR +4.8%, COST +1.6%, CI +0.8%, all bounced back a bit.

WUBA +7.9% after ER beats, other Chinese techs: MOMO +5.1%, BIDU +2.5%, BABA +1.8%

WDC +2.4% touched $100 in the morning, LRCX +5.7%, AMAT +3.8%...

Losers

Toys R Us is is planning on liquidating, MAT -7.1%, HAS -2.1%.
Other mall stocks are also negatively affected: Kimco (KIM -4.4%), Tanger Factory (SKT -3.2%), and CBL (CBL -2.3%)....

QD -6.3%.

BIG -10.1% after mixed earnings.

X -1.5%, AKS -3.5%, NUE -0.7% after tariffs are watered down.

TELL -5.6% after reported trying to buy Louisiana fields CHK (+4.4%).

My Trades Today

  • Sold FB @ $185.
  • Sold 30% MAA @ @ $89 

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