Market Wrap-Up for Feb.7 (PM, AAPL, V, PRU, ROST, GPS, more)
The smell of volatility was in the air once again, as the market had a decent amount of selling in much of the session, but was able to recoup a decent chunk back by the close. Economic concerns for Europe continue to remain a constant theme so far this year, and the nervousness is certainly helping keep a lid on gains for the U.S. markets.
Finding some positives in today’s otherwise tough tape, investors liked the earnings results out of names like Lazard Ltd. (LAZ). Phillip Morris International (PM), and Advance Auto Parts (AAP). On the flipside, the reaction wasn’t as good with earnings news out of Prudential (PRU), Starwood Hotels (HOT), and Visa (V). Monthly retail sales data were out and the news helped shares of Macy’s (M) and Ross Stores (ROST), but didn’t do much to help shares of Gap Inc. (GPS) and Limited Brands (LTD). Apple (AAPL) shares managed to finish in the green as news hedge fund manager David Einhorn has made his battle with the company to enhance shareholder value a public skirmish, making various media appearances to state his case. The company also commented late in the session that it was open to various ways to increasing shareholder returns.
Yes, It’s Like This Most Days
Way back in the 80s when I was learning how to run a food business, I worked in a super-busy deli alongside the key breakfast/lunch manager. He had a certain way he liked things done, and that always didn’t jibe with the rest of the staff. His pace was quite intimidating at the start, even for myself, but I quickly adjusted and flourished under his mentorship. I could definitely say some of those lessons helped me as my work life accelerated (I eventually owned and ran my own successful food business). But I can’t say it helped many others who were new hires, many of whom were quickly sent out the door.
I clearly remember one person who worked their first lunch shift and right after it, asked if it was busy like that everyday. My manager and I quickly knew this person’s days would be limited. He looked pretty worn after the shift and we were correct in our prediction that they would not last very long (I think he lasted only one day, in fact).
Anyone who is following the markets can quickly tell you the pace of daily news and alerts has not slowed down at all in recent years. For some, the pace can be quite overwhelming, but if you want to succeed on the research side of things, you have little choice but prepare yourself for the everyday workload. For investors who want to make investing/trading more of a full-time occupation, all I can say is to not only prepare yourself financially, but also mentally and physically as well. Sitting by your computer monitors for hours on end processing storylines and adjusting your market positions can be quite taxing on your physical and mental well-being. Most traders fail in their efforts to make the financial markets their daily means of income because of the factors I just mentioned.
My best advice for most is to find great investment research sites that tend to be consistent in their approach to the markets. Also seek out services that align well with your own investing style and game plan. Putting your mind toward your career and the super important task of generating capital from whatever you do so you can further invest is the smartest use of your time, and gives you the best chance to build a higher net worth over the years.
Thanks for reading, and I’ll see you tomorrow!
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