January 31, 2017
It’s been four years since we’ve seen the Dow Jones Industrial Average turn in a positive performance in January. We’ll go into the last day of the month hanging on to about a one percent gain, which may or may not last until 4 o’clock. If you missed the day the Dow rose above 20,000 – well you’ll likely get another chance. It looks like we’ll start the day right around 19,920.
Corporate earnings reports have been trending to about a 7 percent year-over-year increase, but we’re hitting some bumps in the road today. The biggest bump, or maybe we should call it a sinkhole came, from Under Armour. Those shares are about 24 percent pre-market after they hit the trifecta this morning: an earnings miss, a sales miss and lowered guidance.
Harley Davidson, Eli Lilly, Exxon Mobil and Pfizer all missed earnings targets today. UPS reported $1.63 per share. That missed a 6 cent...