Major averages fell yesterday on higher volume, breaking the 12-day up streak in the Dow Industrials. The higher volume was partly attributed to nervousness ahead of President Donald Trump's first address to Congress which went off smoothly.
As expected, the president reiterated plans for infrastructure spending of $1 trillion and repeated his desire to reform the tax code. His plans to cut taxes, repeal and replace the Affordable Care Act, bring down drug prices, and build up the military were nothing new, but underscored his pro-growth platform.
Futures are up more than half a percent.
Focus List Update
TTD had a follow-on offering of 6,331,991 shares at $35.50 per share. It was met with vigorous demand. Keep stops tight even though this stock has a compelling fundamental story as it takes digital advertising to a whole new level.
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
