Diamonds and Dogs

11/29/19

Black Friday off to a good start. With unemployment at 50-year low and wages on the rise and major stock market indices up over 20% on the year, consumers are in the buying mood. As of 9:00 a.m. ET, online sales on Black Friday are up 19.2% from the prior year to $600 million, according to Adobe Analytics. The day is on track to reach $7.4 billion in sales. Abobe also confirmed Thanksgiving Day broke the $4 billion sales mark online for the first time. Sales on turkey day gained 14.5% year-over-year. New recent IPO, Peloton (PTON) is up 9% to new highs. Ross Stores (ROST) is up half a percent to new all-time highs. Walmart (WMT) is modestly higher near all time highs. Disney (DIS) is modestly higher at all-time highs.

Energy continues to lag. The good news is the energy sector is up 7% for the year. The bad news is energy is the worst performing sector year in and year out for the better part of the last five plus years. EOG Resources (EOG) known as the "Apple of Oil" , but is down 2% today and down 17% for the year with negative returns for five years not including dividends. EOG is known for their use of technology and big data to aid in drilling operations, but that can't help the slumping price of oil or the supply of oil that continues to grow around the world.