Get ready.
Just in case anybody believed that three straight closes in the red on the S&P (down 150 points) was significant, consider the recent pullback nothing more than profit-taking by big moneybag holders of important stocks.
As the opening bell approaches, stock futures are flying higher, based on (choose one, multiple, or all)...
- Thomas Massie lost his primary in Kentucky
- Trump's Indian Ocean naval blockade intercepted more tankers
- What happens in China stays in China
- AI, baby!
- Interest rates are coming down (LOL)
- Nvidia's earnings after the close
- Inflation is only 3.5%
- Republicans will keep majorities in the House and Senate
- MAGA
- Trump gloating over primary wins
The root causes for stocks to accelerate into stock market heaven don't really matter. All that matters is the perception - as in the housing boom of 2006-07 - that stocks never go down. Or, at least they don't stay down for long.
Earlier this morning these companies reported first quarter results:
Target (TGT) - Huge top and bottom beats, stock down 3.5-4% pre-market
Lowe's (LOW) - Beats expectations, shares down 2%
TJX (TJX) - Earnings beat, soft outlook, shares higher by 3.5%
Hasbro (HAS) - In line or better, stock down 3% (up 18% YTD)
Analog Devices (ADI) - Tops estimates, upgrades outlook, down 1%
Stock futures are beating a path to an upside open. Dow futures are up 180; NASDAQ futures 200 points higher; S&P futures up 27. Gold and silver are posting gains, but everything is beginning to slip as the opening bell is lass than half an hour away. Crude oil is lower, at $101 and change. 10-year yields are at 4.65%. 30-year yields, 5.18. We are to believe those are stabilizing.
It's a day-trading paradise!
At the Close, Tuesday, May 19, 2026:
Dow: 49,363.88, -322.24 (-0.65%)
NASDAQ: 25,870.71, -220.03 (-0.84%)
S&P 500: 7,353.61, -49.44 (-0.67%)
NYSE Composite: 22,797.67, -102.90 (-0.45%)
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