Diamonds and Dogs


Boring is beautiful. Tobacco maker, Reynolds American (RAI) jumped 3% to a 52 week high after British American Tobacco (BTI) agreed to buy the rest of Reynolds American they didn't own for $49.4 billion, creating the world's biggest publicly traded tobacco maker. The deal helped lift the Consumer Staple sector by 1.4%.

The banks finally have a down day. Morgan Stanley (MS) dropped 4% after easily beating earnings estimates as revenue rose 16% year over year. JP Morgan dropped 3% on a downgrade while Goldman Sachs dropped over 3%, its worst down day since the election. We'll see if Goldman can reverse things for the banks tomorrow following their earnings report.   

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.