More than 7 months into the new session of Congress, lawmakers have yet to find consensus on a plan to repeal and replace Obamacare. They've also missed deadlines to pass a bicameral budget resolution and now they're rushing to pass energy bills that would fund the government in 2018. Amazon (AMZN) Prime day starts tonight. The third installment of Prime Day starts at 9 pm Eastern time. This year the company has promised it will be bigger than ever, with discounts on hundreds of thousands of items for Prime subscribers all over the globe. There will be special deals on Amazon's app and Alexa. Spiderman may have just saved the summer box office. 'Homecoming' buried rivals to make $117 million in the United States and Canada in its opening weekend. Sony (SNE) will get all the profits from the show and Disney (DIS) owns Marvel, which licenses the Spiderman character.
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.