On Wall Street Trading Desks, This Is What They're Talking About Right Now

rick hornbuckle trading desk EAM investors

Photo: John Moss, EAM Investors

Dave Lutz of Stifel, Nicolause sends along the topics about which he is chatting about with clients today.We summarize here:

  • EU markets under pressure. The most likely culprit is Europe not coming up with a scheme to use the ESM to bail out banks directly. Financials down 2%.
  • Bullish sentiment hits the lowest level since July.
  • Tech is the big loser in markets. S&P tech sector down 5.6% over the last month.
  • Lipper reports largest inflow on record into investment grade corporate funds.
  • The fiscal cliff is tired. The new big worry: The big hike in dividend taxes next year.
  • Coal is becoming a huge issue in the Presidential campaign.

And here’s some more notes from Michael Block at Phoenix Partners:

  • Earnings not being taken well – MSFT, GOOG, BHI, PH, GE, CMG… diverse group of companies
  • EU Summit disappointing as expected.  Where’s the fiscal plan?
  • Flash PMI and IFO next Wednesday in Europe.
  • Big week coming for industrials and tech – CAT, BA, AAPL, and AMZN earnings highlights.
  • FOMC Wednesday – will they talk about buying Treasuries?
  • Can Value/Financials follow through?  The weak close in fins imperils that trade.

For more on today’s big stories, see 10 things you need to know before the Opening Bell >

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