Friends A heavily anticipated and much watched interview with Fed Chair Jerome Powell seemed to deliver what the bulls were looking for. Basically, the Fed Chair, despite last Friday’s explosive jobs number, stayed the course hinting that we’ll likely only see...
Friends It looked like stocks really wanted to go lower today, but the dip buyers continue to stave off bigger declines these days. As mentioned last week we will begin to hear from Fed officials this week and some investors are concerned about the...
Friends Last year the Nasdaq 100 was down about 33%. This year so far, the Nasdaq 100 is up about 17%. Let that sink in for a moment. Meta (Facebook) was the leader today after a surprisingly good earnings report and an encouraging outlook which finally...
Friends As expected the Federal Reserve raised the Fed Funds rate a quarter of a point today. That brings the range of Fed Funds to 4.50% to 4.75%. Interestingly in the press conference after the release the Fed Chair struck a somewhat dovish pose indicating that...
Friends Though earnings are not beating estimates (they are off about 2%-3%), corporate revenues are slightly ahead of analysts’ estimates as we near the halfway point of this earnings season. So far, it appears that stocks were priced for something worse....
Friends Stocks got off to a rocky start this morning with the Dow down over 300 points in early trading. But buyers stepped in and pushed the market averages higher, with the aforementioned Dow actually moving into positive territory by more than 100 points....
Friends The bulls made an appearance at today’s trading session after a surprisingly good earnings release from Netflix yesterday after the close. The tug-of-war over the next couple of weeks will be between corporate earnings and Fed Speak. Stay tuned. ...
Friends The bears have made their presence known so far this week. After a good start to the year for the bulls, reality that the economy is slowing, and the Fed doesn’t seem to care has begun to set in. Today’s PPI and Retail Sales numbers showed again that...
Friends Stocks were lower today but most of the damage was done in the Dow Jones Industrial Average. Huge declines in Goldman Sachs and Travelers dragged the Dow lower while the other market averages fared better. Goldman’s earnings miss was curious given that Morgan...
Friends We had earnings releases from money center banks this morning including JP Morgan, Bank of America, Citi, and Wells Fargo and all were acceptable. Shares of the banks had moved higher into the print but after an initial selloff at the open, the shares all...
Friends By almost every data point the CPI report came in as expected. Year over year inflation has come down from a high reading of 9.1% to today’s number of 6.5% (again that number was in line with expectations). Inflation is definitely moderating but is it...
Friends Don’t look now but we have a little rally going. Stocks have for the most part moved higher since the beginning of the year, but the first real test will come tomorrow morning with the release of the much-anticipated CPI report. It is assumed that inflation...
Friends Good news on the employment front (the ADP private payroll number was much hotter than expected) was bad news for stocks today. Add to that comments from Fed officials confirming the higher for longer stance with regards to interest rates and the bulls...
Friends 2023 started off with somewhat of a whimper today as stocks were lower throughout the trading session but closed well off the lows of the day. Big names Apple and Tesla struggled mightily and weighed on the market averages. It wasn’t all bad as...
Friends The bulls were able to crank up a little rally music today, but it did seem somewhat half-hearted. Despite the push higher stocks are still down nearly 20% as measured by the S&P 500 and nearly 34% as measured by the Nasdaq year-to-date. Bonds are...
