The Reformed Broker, AKA The Pastrami King, here with today’s MarketRecap…
OK stocks and sectors, take one step forward if you were lookin’ good during today’s market melt-up…
Not so fast, Newspapers!
The 3:30 look at the Newspaper Sector:
Laggards in Price Performance (Intraday)
E W SCRIPPS CL A [ssp]
-9.46%
A.H. BELO CORPORATIO [ahc]
-9.30%
GANNETT CO INC [gci]
-9.07%
MEDIA GENERAL CL A [meg]
-5.99%
JOURNAL COMM INC [jrn]
-5.96%
N Y TIMES CL A [nyt]
-5.83%
WASHINGTN POST CO B [wpo]
-4.53%
The modern-day buggy whip group was rocked once again today, they literally cannot justify their existence at this point. Oh well.
JPMorgan (JPM) was able to raise $5 billion overnight and pretty all of the banks talked about paying off TARP this month. Let’s hope so. In honor of the banks, the above video is a throwback to when lame rap was used to sell toys to kids my age. Enjoy the Build-a-Bank commercial and guess the year: “Put Money In It“…LOL!
It was a mildly positive day for many stocks with the Dow up a bit going into the close.
Thanks for reading today, have a great night!
Full Disclosure: I am currently long JPM for customer accounts. Do not trade or invest based on anything you read here.
I’m a New York City-based financial advisor at Ritholtz Wealth Management LLC. I help people invest and manage portfolios for them. For disclosure information please see here.
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