Diamonds and Dogs

8/6/20

The Big Five leading the averages higher. The major averages are up half a percent thanks to Apple, Amazon.com, Microsoft, Alphabet and Facebook. Facebook is up 5% today and up 15% in the last week. Apple is up 3% today and up 20% since earnings last week. Amazing run.

Insurers taking a hit. AIG (AIG) is down 2% while Metlife is down 3% following earnings. COVID-19 has not been kind to the insurers as their investment income portfolios are down, in person sales are down dramatically while claims and rebates are higher. On the east coast, Hurricane Isaias won't help things.

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