• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Doug Kass
    • Bruce Kamich
    • Jim Cramer
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Stocks

Bulls Couldn't Ask for More

The Fed cut rates a quarter point and signals friendliness to the market, while Apple and others are making a strong showing.
By JAMES "REV SHARK" DEPORRE
Oct 30, 2019 | 04:47 PM EDT
Stocks quotes in this article: FB, TWTR, AAPL

If the goal of the Fed Chair Jerome Powell and the Federal Open Market Committee was to provide a positive catalyst for the market, they couldn't have done a better job.

They cut rates a quarter-point as expected and indicated that the economy was strong enough that another cut was not likely to be needed soon. But Powell also indicated that there would have to be a "significant move up" in inflation before any rate hikes would be needed.

It is a Goldilocks scenario -- low rates that are likely to continue for quite some time and an economy that isn't likely to fall into recession in the near term. It is no wonder that the indexes are at all-time highs.

Major earnings are rolling in and so far look quite good. Facebook (FB)  beat estimates by a solid 24 cents and reported better-than-expected revenues, as well. Starbucks was in line with soft guidance, but a weak report was expected and the stock is up on the news. Twitter (TWTR)  announced it's dropping all political advertisements and is getting hit on the news.

Apple (AAPL) is making a strong initial move on earnings of $3.03 vs. estimates of $2.83 and better-than-expected revenues. Guidance also looks good, and it is gaining momentum as the numbers are reported.

There was a lot of news Wednesday for the market to digest, and it would not be a surprise to see some choppiness and consolidation. This positive response from Apple is going to help keep momentum going and the Fed announcement helps to keep a bid under the market.

The indexes are at all-time highs, technical conditions are good, the Fed is market-friendly and Facebook and Apple are seeing positive responses to their reports. Bulls couldn't ask for a better combination of factors.

Have a good evening. I'll see you Thursday.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

At the time of publication, DePorre had no position in the securities mentioned.

TAGS: Earnings | Federal Reserve | Investing | Stocks

More from Stocks

Bearish Bets: 2 Nasdaq Stocks You Should Consider Shorting This Week

Bob Lang
Jan 17, 2021 12:05 PM EST

These names are displaying technical deterioration.

KushCo Sprinkles Some Gems on Its Earnings Call

Debra Borchardt
Jan 17, 2021 8:15 AM EST

The cannabis packaging company is looking at Arizona and New Jersey as new markets for growth.

When it Comes Time to Sell, Will You Act or Will You Freeze?

James "Rev Shark" DePorre
Jan 16, 2021 10:00 AM EST

Why don't more people embrace the ease and power of selling stocks? Why do they freeze and do nothing as losses build?

Hungry Traders and Stock Opportunities Aren't Likely to Go Away Soon

James "Rev Shark" DePorre
Jan 15, 2021 4:40 PM EST

It doesn't take much time for stocks with strong momentum to reset and continue on their way.

At What Price Is Ballard Power Systems a Buy?

Bruce Kamich
Jan 15, 2021 3:09 PM EST

Let's check out the latest charts of BLDP.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 09:01 AM EST JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    When it's time to sell, will you act or freeze?
  • 08:35 AM EST GARY BERMAN

    Wednesday Morning Fibocall for 1/13/2021

    Lower highs... SPX (Long-Term View) The 1/8/2...
  • 08:07 AM EST GARY BERMAN

    Tuesday Morning Fibocall for 1/12/2021

    Watch if the recent trend of lower highs continues...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2021 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login