There's that odd dichotomy between tech, as represented by the Nasdaq, and the S&P because of a drug and industrial rally.
It's hard to tell which way it's going to go. The Dow's got a good head of steam and the UNHs (UNH) and the 3ms (MMM) and even the GEs (GE) act well. There's good action in the drugs. Boeing (BA) seems back unless the President pressed the China bet.
But the Nasdaq? Here comes Facebook (FB) again as the company simply can't get ahead of the news story. All they have to do is hire Ted Wells from Paul Weiss who does all of the big investigations and that will quiet the jackals. He's the best there is and everyone on the Hill knows it.
Talk about a lay-up.
The one thing that's palpable: the consumer product stocks stick out as positives. Don't ask me how that started happening. The one that reported today, McCormick (MKC) put up good numbers. But does that really have legs? Or is that just the bonds speaking as rates sink?
No matter; they are working.
It sure is a hideous day for lots of stocks, but not the Dow stocks which keep making up for lost ground from Thursday and Friday.