Yesterday, a reader said socialist “breadcrumbs” are leading the U.S. astray; in response, a reader writes:
“The ‘Hansel & Gretel’ analogy was TOTALLY worth the price of admission. This should be on billboards everywhere.
“A real Truth Bomb. Thank you for sharing it with us.”
And what are socialist “breadcrumbs”? A reader says…
“They are called ‘Hero Bills.’ Have a few being thrown around here right now in the Washington State Legislature.
“A rep wants to make full time a 32-hour work week (instead of the standard 40). Anything over 32 hours would be paid to employees at time-and-a-half.
“This idiotic bill probably isn’t going to pass… BUT this is an election year; the rep can go to his constituents and say, ‘See how hard I’ve been working for you?’ Thus making himself look like a ‘Hero.’ In reality, he’s just wasting time.
“Watch out for the ‘Hero Bills’ because some of them might pass if you don’t get involved.”
Got “Hero Bills” trying to pass in your locale? Let us know. Unintended consequences?
Your Rundown for Thursday Jan. 23, 2020
Pull the Trigger on GE?
General Electric Company (NYSE:GE) was one of the worst performing stocks on the market yesterday. Shares were down 2.4% from its previous close of $11.66.
For investors, the question is whether to buy, hold or sell? If you look at the consensus price forecast for GE, the average analyst price target comes in at $10.85 — roughly 7% below top trading levels.
One outlier, UBS Analyst Markus Mittermaier, forecasts GE’s price at $14. He also says GE’s earnings will grow 12% and 29% in 2020 and 2021.
That said, GE stock surged 30% over the past three months, outperforming the S&P 500 Index, up 11% over the same time.
GE reports earnings at the end of the month; smart money and retail investors are keeping fingers crossed that the company’s undoubtedly competent CEO Larry Culp is turning the company around.
In the meantime, we’re not ready to let fly a “buy” order just yet; earnings should be illuminating.
Market Rundown for Thursday, Jan. 23, 2020
S&P 500 futures are down 4 points to 3,315.
Oil continues to slide: down $1.07 to $55.67 for a barrel of WTI.
Gold’s down $2.00 to $1,554.70 per ounce.
Bitcoin is down $270.49 to $8,409.66.
Have a good one… More Friday.
For the Rundown,