The Zigmont Report (Daily Market Recap for 10/10/17)

Mike Zigmont

Mike Zigmont, author of the Zigmont Report, is a partner at New York-based Harvest Volatility Management, a hedge fund with over $10B AUM, offering volatility management solutions to its investor base worldwide.  Mike has been publishing his daily newsletter (Monday-Friday) privately for the firm’s investors and his personal contacts in the investment business since 2008, sending it daily shortly after the market close.

The opinions expressed below are my own

Tick tock.  The clock is ticking and the markets are waiting but nobody is doing much.  Today US equities climbed a bit.  The gain wasn’t significant and could just be a reversal of yesterday’s small drop.  Capital flow was light today at 93%.  Investors were not active and that’s not surprising.

If something will stir up animal spirits, I continue to think earnings season is the first, best catalyst.  Earnings season may not even kick the tape around but the season is way more likely to trigger activity than the Fed minutes or some upcoming economic release.

We will see these three earnings releases tomorrow, so we’ll have a little bit to talk about.

  • BlackRock
  • Fastenal
  • Delta Airlines

That said, this week’s belle of the ball is JP Morgan and they announce Thursday morning.

Have a good one