• 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
    • Bruce Kamich
    • Doug Kass
    • 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

No Energy? No Problem, This Market Will Find a Way to Go Higher

Earnings season continues to be upbeat and there are no signs of the economic weakness the bears were looking for.
By JAMES "REV SHARK" DEPORRE
Jul 23, 2019 | 04:41 PM EDT
Stocks quotes in this article: TXN, AAPL, SNAP, KO

After a deal on the debt ceiling and some good earnings, stocks opened strongly Tuesday morning only to be greeted by some quick selling and little positive momentum. The market continued to bounce around for a few hours until 1:45 p.m. ET when a headline hit that Treasury Secretary Mnuchin and U.S. Trade Representative Lighthizer were traveling to Beijing on Monday to resume trade talks.

While this news was reported in the Chinese press this morning it was a perfect headline to trigger buying by computer algorithms. That pushed the indices to the highs of the day and helped to enable some short squeeze action to keep stocks running the rest of the day. We ended up with a strong close on good breadth. Volume was lackluster again but this is a market that finds ways to work its way higher on very limited energy.

More earnings reports are rolling in after hours and Texas Instruments (TXN) is lighting it up with a solid report and good guidance. The chip sector has been leading lately and this will help to keep it going.

In addition to chip stocks, banks and financials showed good relative strength and Apple (AAPL) continued to do some heavy lifting.

Snap (SNAP) has had a slew of positive comments from analysts recently and is moving up nicely after the close on its earnings results. The good news was expected and so far it is being chased.

Earnings season continues to be upbeat and there are no signs of the economic weakness the bears were looking for. We still have plenty of quarterly reports to come but the news has been so far. Even the stodgy Coca-Cola (KO) is moving like a growth name.

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

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, Rev Shark had no positions in any securities mentioned.

TAGS: Federal Reserve | Investing | Markets | Stocks | Trading | U.S. Equity

More from Stocks

Shares of Xencor Could Be Bought on a 50% Correction

Bruce Kamich
Jul 1, 2022 11:59 AM EDT

Traders should remain patient.

Let's Size Up the Market's Prospects for the Second Half of 2022

Bret Jensen
Jul 1, 2022 11:30 AM EDT

The next six months can't be worse than the first six, can they?

In an Ugly First Half for Stocks, Value Was a Lot Less Ugly Than Growth

Jonathan Heller
Jul 1, 2022 11:00 AM EDT

A look at the Russell indexes shows that value stocks suffered in the first six months of 2022 but not nearly as much as growth issues.

Nuvalent Has Begun the Bottoming Process

Bruce Kamich
Jul 1, 2022 10:52 AM EDT

Let's check the charts and indicators.

You Can Invest in Micron, But Here's Why You May Want to Wait

Stephen Guilfoyle
Jul 1, 2022 10:15 AM EDT

MU reported earnings Thursday night and the guidance was shocking.

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

  • 07:59 PM EDT PAUL PRICE

    Very good quarterly numbers from Bassett Furniture (BSET)

    Bassett Furniture (BSET) blew right through analys...
  • 04:41 PM EDT PAUL PRICE

    First Half Results - Putrid Second Half Results - Likely to Be Much Better

    It's great that we're done with June. 2022 marked...
  • 04:51 PM EDT PAUL PRICE

    We Should Be in for Better Starting Soon

    Window dressing Thursday, the last day of the...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 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