Diamonds and Dogs

3/28/18

Defensive stocks look good. As tech takes a hit, defensive stocks look good. AT&T (T) and Verizon (VZ) are both up 1.5% on upgrades. Tobacco stocks, Phillip Morris (PM) and Altria (MO) are both up 2%. Consumer staples, Colgate (CL), P&G (PG), Kimberly Clark (KMB) and Clorox (CLX) are up over 1%. Big cap drug stocks all look good. Biotech, Celgene (CELG) is up 2.5% after the company unveiled a co-development and co-promotion agreement with fellow biotechnology firm Bluebird Bio for a potential treatment for relapsed and refractory multiple myeloma.

Trump vs Amazon. Amazon (AMZN) is down 5% on rumors President Trump would like to change the company's tax treatment or pursue antitrust laws. Unnamed sources claim the president is "obsessed" with Amazon making claims to "people" about Amazon getting away with special treatment on taxes, something he brought up repeatedly on the campaign trail in 2016. President Trump is wondering aloud if there may be any way to go after Amazon with antitrust or competition law. Another source says Trump would love to clip CEO Jeff Bezos's wings, but he doesn't have a plan to make that happen.

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.