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.
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