After sharp bounce, market may take a ‘breather’ on lingering election uncertainty, virus outbreak

first_imgThere are a few economic reports in the week ahead, including consumer price index inflation data Thursday and the producer price index Friday. The earnings season is beginning to slow down, but there are still dozens of reports, including from McDonald’s on Monday and Walt Disney, Applied Materials and Cisco on Thursday.“I think next week is just setting up to be a breather. There’s still a lot to figure out here,” said Grohowski. “The equity market’s reaction has been I think understandable and probably better than many might have expected.”Grohowski said there may be uncertainty for awhile. “What I’m thinking about is the Senate races. Part of the market reaction has been relying on this divided government.” After the votes are all in or recounted, “a sweep is unlikely but possible.”“I think the longer this stays uncertain and messy, the more the post-election bounce comes into question,” he said.Different than 2000It would not be unusual for the stock market to sell off before rallying into year end, according to Sam Stovall, chief investment strategist at CFRA. Stovall does not expect the type of turbulence there was in 2000, when former Vice President Al Gore lost to George W. Bush in a tight race that ultimately went to the Supreme Court.“In 2000, they were not expecting hanging chads. But they do expect a contested election this time. I think in many ways the market anticipated this,” said Stovall.But the market, after its election week surge, could pull back. “Historically, the market goes down in the month of November, after a Democratic victory,” said Stovall. Since World War II, Democrats won the White House nine times, and the market fell an average of 0.5% in November in those years, compared to the average gain for all Novembers of 1.4%, he said.After those Democratic victories, stocks then rose 1.9% in December on average, more than the normal 1.5% gain for all Decembers.Strategists said they currently do not expect the kind of lockdowns that states ordered when the pandemic started to spread in March. But there could still be some impact that could be negative for stocks.Grohowski said he sees some signs of optimism for the market. Strong data, like third quarter GDP, October’s drop in unemployment to 6.9%, and the better-than-expected earnings are all positives for the market. Another is that investors are so skeptical.“What does still exist is a great deal of dry powder. There’s $4.3 trillion in money markets alone,” he said. “I can tell you, being in touch with investors of all shapes and sizes this week, there’s still a lot of skepticism. From a contrarian view, high cash and a lot of skepticism is a contrarian indicator.”Week ahead calendarMonday Earnings: McDonald’s, SoftBank, Beyond Meat, Simon Property Group, Ambac Financial, Tilray, ZoomInfo, Occidental Petroleum, Myriad Genetics, Taubman Centers, International Flavors and Fragrances, Norwegian Cruise, Canopy Growth, Aurora Cannabis, Party City 1:30 p.m. Cleveland Fed President Loretta Mester2:00 p.m. Senior loan officer survey Tuesday Earnings: Lyft, Advance Auto Parts, Adidas, D.R. Horton, Rockwell Automation, CyberArk Software, Hain Celestial, Rackspace, Ashland, Rocket Cos 6:00 a.m. NFIB small business survey10:00 a.m. JOLTS10:00 a.m. Boston Fed President Eric Rosengren WednesdayVeterans DayBond market closed, stocks market open regular trading hours Earnings: Air Products, DouYu, Lemonade, Reynolds Consumer, Vroom, Fossil Thursday Earnings: Walt Disney, Palantir Technologies, Applied Materials, Beazer Homes, Cisco Systems, Siemens, Burberry, Brookfield Asset Management, Unity Software8:30 a.m. Jobless claims8:30 a.m. CPI1:00 p.m. Chicago Fed President Charles Evans2:00 p.m. Federal budget2:00 p.m. New York Fed President John Williams Friday Earnings: Manchester United, Draftkings, Vipshop 7:00 a.m. New York Fed’s Williams8:30 a.m. St. Louis Fed President James Bullard8:30 a.m. PPI10:00 a.m. Consumer sentiment – Advertisement – The S&P 500 was up more than 7% in the past week, and the Nasdaq rose nearly 9%. Technology, communications services, health care and discretionary stocks led the rally, after it appeared Democrat Joe Biden could be the next president but with a split Congress.The election was still unresolved heading into the weekend, but even if Biden is declared winner, close votes and lawsuits are likely to result in recounts. The Senate appeared to be in Republican hands, but the margin of control is likely to be tight, and runoff elections are required for two Senate seats in Georgia in early January.“I think the uncertainty is going to catch up the market on a short-term basis,” said Leo Grohowski, BNY Mellon’s Wealth Management chief investment officer. “Perhaps next week could be a drifting lower kind of week.”- Advertisement – Spencer Platt | Getty Images News | Getty Images At the same time, there has been a surge in daily new coronavirus cases to more than 122,000. Economists are concerned that the economic recovery could suffer as some states could restrict activities and consumers may pull back heading into the important holiday season.The Fed, in its post-meeting statement Thursday, repeated that the course of the virus could help determine the path of the economy.- Advertisement – Ahead of the election, the market had been betting on a “blue wave,” where Biden would take the White House and Democrats would get control of the Senate, giving them total control of Congress. But when it appeared the Senate would stay in Republican hands, stocks surged on the idea of gridlock, which would keep Biden from implementing tax increases and lots of new regulations. After an initially exuberant election reaction, stocks may trade more cautiously in the week ahead, as investors watch election developments unfold and track the course of the coronavirus. – Advertisement –last_img read more

Angels use team-wide effort to beat Rangers

first_img Newsroom GuidelinesNews TipsContact UsReport an Error Jose Suarez’s rocky start sinks Angels in loss to Astros PreviousLos Angeles Angels starting pitcher Garrett Richards (43) throws to the Texas Rangers in the fourth inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. (AP Photo/Tony Gutierrez)Texas Rangers starting pitcher Doug Fister throws to the Los Angeles Angels in the first inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. (AP Photo/Tony Gutierrez) SoundThe gallery will resume insecondsLos Angeles Angels’ Albert Pujols follows through on a foul ball to left in the first inning of a baseball game against the Texas Rangers in Arlington, Texas, Monday, April 9, 2018. (AP Photo/Tony Gutierrez)Los Angeles Angels’ Albert Pujols rounds the bases after hitting a solo home run off of Texas Rangers starting pitcher Doug Fister in the fourth inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. (AP Photo/Tony Gutierrez)Los Angeles Angels’ Mike Trout gestures to the dugout after hitting a single off Texas Rangers starting pitcher Doug Fister in the first inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. (AP Photo/Tony Gutierrez)ARLINGTON, TX – APRIL 09: Garrett Richards #43 of the Los Angeles Angels throws against the Texas Rangers in the first inning at Globe Life Park in Arlington on April 9, 2018 in Arlington, Texas. (Photo by Ronald Martinez/Getty Images)Texas Rangers second baseman Rougned Odor reaches to field a ground ball by Los Angeles Angels’ Zack Cozart in the first inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. Cozart was safe at first on the play. (AP Photo/Tony Gutierrez)Los Angeles Angels designated hitter Albert Pujols attempts to tag out Texas Rangers’ Rougned Odor who got back to first safely after Elvis Andrus lined out to right in the first inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. Odor suffered and unknown injury on the play and left the game. (AP Photo/Tony Gutierrez)Los Angeles Angels’ Albert Pujols helps Texas Rangers’ Rougned Odor who suffered a left hamstring injury getting back to first in the first inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. Rangers first base coach Anthony Iapoce, and Elvis Andrus, right, watch. (AP Photo/Tony Gutierrez)Texas Rangers head athletic trainer Kevin Harmon assist second baseman Rougned Odor off the field after Odor suffered an unknown injury on a play at first in the first inning of baseball game against the Los Angeles Angels in Arlington, Texas, Monday, April 9, 2018. (AP Photo/Tony Gutierrez)Los Angeles Angels starting pitcher Garrett Richards is greeted in the dugout at the start of the first inning of a baseball game against the Texas Rangers in Arlington, Texas, Monday, April 9, 2018. (AP Photo/Tony Gutierrez)Los Angeles Angels starting pitcher Garrett Richards throws to the Texas Rangers in the first inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. (AP Photo/Tony Gutierrez)Los Angeles Angels’ Kole Calhoun connects for a run-scoring single off a pitch from Texas Rangers’ Doug Fister in the first inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. The Angels’ Zack Cozart scored on the hit. (AP Photo/Tony Gutierrez)Los Angeles Angels’ Mike Trout, left, and Albert Pujols, right, celebrates Pujol’s solo home run off Texas Rangers starting pitcher Doug Fister in the fourth inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. (AP Photo/Tony Gutierrez)Los Angeles Angels’ Shohei Ohtani watches play from the dugout in the third inning of a baseball game against the Texas Rangers in Arlington, Texas, Monday, April 9, 2018. (AP Photo/Tony Gutierrez)Texas Rangers third baseman Adrian Beltre, left, reaches out to tag out Los Angeles Angels’ Luis Valbuena (18) who was caught advancing home on a fielder’s choice by Zack Cozart in the fourth inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. (AP Photo/Tony Gutierrez)Los Angeles Angels’ Garrett Richards adjust his cap as he works against the Texas Rangers in the fourth inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. (AP Photo/Tony Gutierrez)Los Angeles Angels’ Martin Maldonado (12) slides into home as Texas Rangers catcher Robinson Chirinos (61) attempts to make the tag in the sixth inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. (AP Photo/Tony Gutierrez)ARLINGTON, TX – APRIL 09: Jose Alvarez #48 of the Los Angeles Angels throws against the Texas Rangers in the fifth inning at Globe Life Park in Arlington on April 9, 2018 in Arlington, Texas. (Photo by Ronald Martinez/Getty Images)Texas Rangers catcher Robinson Chirinos, left, attempts to tag out Los Angeles Angels’ Martin Maldonado, front right, who touches the bag with his hand as he dives into home in the sixth inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. Home plate umpire Angel Hernandez, back right, watches the play. Hernandez ruled Maldonado out but after a video replay the call was reversed to say Maldonado was safe at the plate. (AP Photo/Tony Gutierrez)Los Angeles Angels’ Martin Maldonado (12) yells to the dugout that he was safe as Texas Rangers relief pitcher Alex Claudio, rear, watches following a close call at the plate in which Maldonado was ruled out in the sixth inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. The call was reversed after a video review. (AP Photo/Tony Gutierrez)The Angels’ Martin Maldonado yells to the dugout that he was safe as Rangers relief pitcher Alex Claudio, rear, watches following a close call at the plate in which Maldonado was ruled out during the sixth inning of Monday’s game in Arlington, Texas. The call was reversed after a video review. (AP Photo/Tony Gutierrez)ARLINGTON, TX – APRIL 09: Noe Ramirez #25 of the Los Angeles Angels throws against the Texas Rangers in the sixth inning at Globe Life Park in Arlington on April 9, 2018 in Arlington, Texas. (Photo by Ronald Martinez/Getty Images)ARLINGTON, TX – APRIL 09: Noe Ramirez #25 of the Los Angeles Angels throws against the Texas Rangers in the sixth inning at Globe Life Park in Arlington on April 9, 2018 in Arlington, Texas. (Photo by Ronald Martinez/Getty Images)ARLINGTON, TX – APRIL 09: Jim Johnson #33 of the Los Angeles Angels throws against the Texas Rangers in the seventh inning at Globe Life Park in Arlington on April 9, 2018 in Arlington, Texas. (Photo by Ronald Martinez/Getty Images)Los Angeles Angels starting pitcher Garrett Richards (43) throws to the Texas Rangers in the fourth inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. (AP Photo/Tony Gutierrez)NextShow Caption1 of 25Los Angeles Angels starting pitcher Garrett Richards (43) throws to the Texas Rangers in the fourth inning of a baseball game in Arlington, Texas, Monday, April 9, 2018. (AP Photo/Tony Gutierrez)ExpandARLINGTON, Texas — The Angels won a game without a hero.The Angels’ 8-3 victory over the Texas Rangers on Monday was cobbled together by 10 position players and six pitchers, with just about all of them providing something for the winning recipe.And Shohei Ohtani wasn’t even among them, with the day off after pitching seven innings on Sunday.Ohtani’s absence provided the opportunity for someone else to shine, but instead the Angels simply collaborated on a rather routine victory, one that pushed their record to 8-3. It equals the best 11-game start in franchise history, last accomplished in 1987. Angels’ poor pitching spoils an Albert Pujols milestone “I didn’t know whether to slide head first or feet first,” he said. “I didn’t know which one I was going to do, but it worked out.”Relievers Noé Ramírez, Jim Johnson, Blake Parker and Cam Bedrosian finished the game. Parker, who had been struggling, tossed a perfect inning.About the only negative on the night was Richards, who in three starts has not yet finished six innings. He’s walked 12 in 15 innings.“It’s still early in the season, so this stuff I’m going to figure out before my next start,” he said. “I’ll get with (pitching coach Charlie) Nagy and watch some film and do some drills in my next bullpen. Hopefully I’ll get my timing and tempo and everything down to where I can fill up the zone.” Angels’ Mike Trout working on his defense, thanks to Twitter Angels’ Shohei Ohtani spending downtime working in outfield Albert Pujols hit the only homer among the Angels’ 13 hits. Martín Maldonado had two hits, each driving in runs, and one acrobatic slide to score a run. Andrelton Simmons, Zack Cozart, Kole Calhoun and Pujols had two hits apiece. Nine of the 10 players who came to bat reached base at least once or drove in a run, with only Justin Upton coming up empty.The Angels have now scored 68 runs, the most in the American League, even though projected leadoff hitter Ian Kinsler has played only one game.“I think (the lineup) is deeper and we’re getting contributions from a lot of spots in our lineup,” Manager Mike Scioscia said. “Some guys aren’t locked in like we hope they will be, but we are doing a good job of pressuring teams with some really clutch hitting.”The hitters and the relievers – one in particular – bailed out Garrett Richards on a night that he walked five, including three to load the bases before he was pulled with one out in the fifth.José Álvarez then came in to face two of the Rangers’ most powerful hitters: lefties Nomar Mazara and Joey Gallo. Angels offense breaks out to split doubleheader with Astros Maldonado acknowledged afterward that the play was more accident than design.Related Articles Álvarez said his mindset was to “just make pitches and stay out of the cookie spot.”Álvarez succeeding in avoiding the middle of the plate, and he got both hitters on routine popups, preserving the 3-1 lead.“That’s a key spot in the game,” Scioscia said. “For him to come in and get two really good left-handed hitters – either one of them can hit the ball out of the ballpark – is huge.”They padded the lead to 5-1 in the sixth, mostly thanks to Maldonado’s bat and – believe it or not – his base running.Maldonado’s two-out single drove in Simmons. He then came all the way around from first on Chris Young’s double down the left field line. Maldonado appeared to be out easily at the plate, but he contorted his body to avoid Robinson Chirinos’ tag, slapping his  hand on the plate. He was initially called out, but ruled safe upon review.last_img read more

Alabama names Steve Sarkisian as OC, announces new coaching staff

first_imgSteve Sarkisian is back at Alabama.The Crimson Tide announced in a release that Sarkisian, who served as their offensive analyst in 2016, would serve as their offensive coordinator for the 2019 season. He comes off a two-year stint as the Atlanta Falcons’ offensive coordinator. He also served as head coach at USC and Washington.  Alabama also noted the hiring of six other coaches to its staff, including Pete Golding’s promotion to defensive coordinator from the co-defensive coordinator position he occupied in 2018.  MORE: Bama faces challenges, but dynasty is nowhere near done Other coaches on Nick Saban’s staff include former Rutgers coach Kyle Flood (offensive line), former Mississippi State running backs coach Charles Huff (associate head coach/running backs), and former Virginia Tech receivers coach Holmon Wiggins (wide receivers) on the offensive side.New defensive assistants include former MSU defensive line coach Brian Baker (associate head coach/defensive line), former Tennessee special teams coordinataor Charles Kelly (associate defensive coordinator/safeties) and former Florida defensive line coach Sal Sunseri (outside linebackers).Several Crimson Tide assistant coaches departed shortly after Alabama lost to Clemson in the national championship, including former offensive coordinator MIke Locksley and defensive coordinator Tosh Lupoi. Saban’s staff in 2017 was his youngest ever at Alabama, though his newly announced staff is considerably older and features several coaches with NFL experience.last_img read more