The markets were quiet as trading volume dwindled to a trickle. The only news of significance were comments by Fed Chair Janet Yellen that a rate hike in December was likely. The Dow closed off 64 to 23,526. The NASDAQ was led higher by Amazon.
Shares of Hewlett Packard, Hewlett Packard Enterpirse and Agilent were hammered yesterday and today after reporting earnings and announcing that CEO Meg Whitman was stepping down by the end of Q1. She started at Ebay in 1998 when the company had only 30 employees and with sagacity and hard work she eventualy found herself as CEO of HP in 2011. Under her leadership HP reorganized and is today trading near highs. Well done Meg! She is 61 years old and while some speculate that she will run for the White House she definitely will stay active in business, politics and charity.
The boy scouts will be setting up our Christmas tree lot this Friday and Saturday. Trees were harder to come by this year and prices are up due to a shortage. One of our grower’s ships trees to Singapore while another one specializes in big trees for mansions in California but my favorite grower is Allan’s Tree farm in Tahulya near Bremerton. Jay grows great trees and is a WSU Cougar! The lunkheads will be working the lot for the next three weeks and will learn how to dress warm, help people, lug and tie trees to cars and drink hot chocolate.
Tomorrow is turkey day and as the Westport Mafia likes to say “make sure you stuff the turkey and don’t let the turkey stuff you”. Cleo, John and I hope everyone has a restful and filling Thanksgiving Day.