Friends Stocks tried to rally early, failed, moved into negative territory, and then attempted to recover late in the trading session. We had a little bad news is good news before the open this morning as the ADP private payroll number came in lighter than...
Friends The year of the great reset continues. As we have seen, every rally has eventually stalled out pretty much where technicians have expected in 2022, and narratives change on a dime whether driven by an utterance from a Fed official, an economic data...
Friends Stocks followed thru on Friday’s selloff as trading began this morning, but after a 1% drop in both the Dow and the S&P 500 things did recover some. Friday’s move was a reaction to the Fed Chair trying to reframe last month’s FOMC presser by...
Friends As market participants wait for the festivities to begin at Jackson Hole, economic data continues to show weakness in the economy. This week we have seen soft housing data and a services PMI number yesterday that was surprisingly weak. Remember nearly 3...
Friends Market sentiment has turned again. The bears seem to be back in control of the narrative. I know it’s only been a couple of trading sessions, but the bears have been able to kill rallies this year and, at least for the moment, appear to have killed the...
Friends The bulls will say that given the run we have had since the end of the 2nd quarter, stocks were bound to take a pause at some point. The bears will say the move we have had since the end of the 2nd quarter is just another bear market rally doomed to...
Friends Stocks opened lower today and given the move higher we have seen this quarter, it was not surprising that market participants thought it might be a good time to take a little off the table. After the initial 300 point plus selloff in the Dow at the...
Friends The Empire State manufacturing data for August was so bad it almost was hard to believe. Cue the recession narrative. Regardless, after an initial downturn at the open stocks rallied to close higher for the day. For those who are looking for more than a bear...
Friends Don’t look now, but the bulls appear to be occupying the high ground at the moment. After a miserable first half of the year, the bulls have erased more than half of the decline in the S&P 500 despite the headwinds of inflation (possibly slowing) and a...
Friends While yesterday's CPI number was flat month over month, today’s PPI (Wholesale Inflation) number was actually down .5% month over month which was also a surprise. The core PPI number was up .2% vs. the .4% estimate, so taken altogether the inflation picture...
Friends The much-anticipated CPI report gave the bulls a boost this morning as month over month the headline CPI number was unchanged. That was better than expected and the first month we haven’t seen a rise in inflation in a while. The core number was up .3% vs. the...
Friends There appeared to be somewhat of a buyers strike today with regards to stocks and given that the much-anticipated monthly Consumer Price Index report will be released tomorrow morning, it’s not really a surprise. The inflation story has been front and...
Friends It looked like the bulls were going to get the upper hand as the trading week began this morning, but as the day wore on the gains slipped away and stocks ended up mixed for the day. Now the question will be this week “was this just another bear market rally...
Friends A much more robust jobs number than had been anticipated stunned market participants this morning. Instead of estimated 200,000-250,000 new jobs created in July, there were 528,000 new jobs created. The unemployment rate is at 3.5% and average hourly...
Friends Stocks were quiet as market participants prepare themselves for tomorrow’s non-farm payroll number. It is expected that about 250,000 new jobs were created in July. Nowadays it’s hard to determine what investors want to see at this point. Do they want a...
