Friends Economic data be damned. The Fed, not unexpectedly, raised the Fed Funds rate another quarter point today (3rd raise in 6 months) and indicated that over the next couple of years they plan on reducing their balance sheet. Despite the fact that the inflation...
Friends As you know a major part of being an investment advisor these days is watching government officials testify in front of congressional committees. Indeed, the market seemed to become comatose once the Attorney General began his testimony before the last hour...
Friends As we wait for the Fed to come front and center this week, this first day of the trading week saw the continuance of the selling pressure on the tech oriented momentum stocks that we saw begin last Friday. Again today, Apple, Amazon, Netflix, Facebook and...
Friends If you happen to check in at 3:00 to see how stocks did for the day you may be under the impression that it was a quiet day. Au contraire mes amis et amies. It was a day of massive rotation, as the high flying momentum stocks saw air let out of their bubble,...
Friends How the former FBI Director James Comey's testimony went today probably depends on what side of the political aisle that you find yourself. I'll leave it to the political pundits to decipher, but the markets really didn't have a whole lot of reaction, one way...
Friends Despite or because of all the testimonies and political headlines, stocks posted the first positive day of the week. Market participants monitored the Senate Intelligence Committee testimonies this morning, then, this afternoon were frantically reading the...
Friends It was another sloppy day for stocks as the major market averages spent most of the trading session in negative territory, but as like yesterday, not by much. A few of the high fliers like Amazon, Google and Facebook saw some selling pressure in the last hour...
Friends After last week's late surge, stocks began the week with very little direction. The market averages spent most of the trading session slightly in negative territory but without any real conviction. Acts of terror like we saw in London over the weekend seem to...
Friends Today's jobs number was a disappointment as only 138,000 new jobs were created in May. The market had expected a better number, especially after the better than expected ADP private payroll number that we got yesterday. The bond market acted accordingly with...
Friends While the President was announcing that the U. S. was withdrawing from the Paris accord, stocks were rallying to new all-time highs. The ADP private payroll number this morning was much better than expected and tees up tomorrow's non-farm payroll release. The...
Friends Stocks continued to drift with a slight negative bias today as economic data continues to send mixed messages. The recent corporate earnings season provided the bulls some evidentiary hope for the coming quarter or two, but today's beige book report confirms...
Friends Market participants returned from the holiday weekend somewhat uninspired. The never-ending battle between the press and the President doesn't help the situation, but by week end the focus should be on the employment picture. On Thursday we get the ADP...
Friends It appears that market participants began the Memorial Day Weekend a bit early. Stocks were virtually motionless today as both the bears and bulls headed for the Hamptons. This morning, the 1st quarter GDP was revised upward slightly, but there really wasn't...
Friends Stocks continue to rally into the upcoming holiday weekend despite getting no help from energy or financial shares. The winners are the same ones that have been winning for some time now. Google (Alphabet), Amazon, Apple, Facebook and Netflix shares seem to...
Friends The bulls continue to build on the rally that began after last Wednesday's pullback. The existing home sales number was weak, but that might simply be the lack of supply of affordable homes on the market nationwide. The price index continues to show rising...
