Tim Francisco <
[email protected]> GOOD MORNING: 10/26/18 Farm Direction Van Trump Report 2 messages Kevin Van Trump <
[email protected]> Fri, Oct 26, 2018 at 6:02 AM To: Kevin Van Trump <
[email protected]> Bcc:
[email protected] "People are always blaming their circumstances for what they are. I don’t believe in circumstances. The people who get on in this world are they who get up and look for the circumstances they want, and, if they can’t find them, make them." George Bernard Shaw FRIDAY, OCTOBER 26, 2018 Printable Copy or Audio Version Morning Summary: Stocks are down aggressively this morning as both Amazon and Google released disappointing earnings after yesterday's close. The Nasdaq looks as if it will continue to have its worst month since the financial crisis. Also keep in mind, the market will be digesting Q3 GDP data today. I'm worried that either way it could be digested as bearish. That's just the mindset of the market right now. If the GDP number comes in too hot, the bears will run with headlines of the Fed continuing to hike rates. If the number comes in weaker than anticipated the bears will run with more "I told you so" talk that the market and the economy has already peaked. Interestingly, Amazon actually reported record setting profits for the Q3. Total revenue increased +29% from last year. North American sales were $34.3 billion, up +35% from last year, while international sales grew +13% to $15.5 billion. Analysts were predicting that on a per share basis, Amazon's profit would be six times larger in the period than it had been in the same quarter a year earlier.