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What you need to know in markets on Friday
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Loading...We’ll get J.C. Penney (JCP) rounding out a full week of retail earnings, and at 17:00 we’ll also get the final reading on consumer sentiment in February from the University of Michigan.
Elsewhere in economic data, the latest report on existing home sales will also cross the tape at 17:00.
On Thursday, we got the 10th straight record close for the Dow, though the last two days have seen just fractional advances.
And while the market’s least-favored option on taxes from the Trump administration — a border-adjustment tax — got some positive commentary from the President in an interview with Reuters on Thursday
Markets still seem inclined to give the White House the benefit of the doubt.
Buffett on deck
On Saturday morning, Warren Buffett is expected to publish his latest letter to Berkshire Hathaway (BRK-A, BRK-B) shareholders.
The letter, one of the most widely-read pieces of market commentary each year, is sure to see Buffett address the new administration, the scandal at Wells Fargo, and the Berkshire's recent acquisition of shares in airline stocks and Apple (AAPL).
But it also seems likely that Buffett will feel inclined to comment on something a bit broader than the goings on of the Berkshire portfolio: the stock market.
After the election, Buffett said Berkshire bought about $12 billion worth of common stocks.
Looking at what Buffett and Berkshire have done since the election could have some thinking they are not only unconcerned about any potential risks around the Trump administration, but outright bullish.
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