Friends It was an eventful “Fed” day for the markets. First, at the conclusion of the FOMC meeting the Fed announced that they would be raising interest rates by 50 basis points taking the Fed Funds rate to .75% -1.00%. Also announced was that the Fed would...
Friends The bulls continued to try to follow through on yesterday’s nice reversal during the trading session, but every advance was met with a wave of selling. In the end the bulls were able to grind out a win, but it took a lot of work. Whether we are trying to form...
Friends It wasn’t much but the bulls finally had a little something to cheer about today. After a more than 500 point drop in the Dow, buyers showed up this afternoon (maybe covering shorts) to push stocks into positive territory near the close. After a...
Friends That was an ugly month. There’s really no other way to describe it. Stocks were down. Bonds were down. Gold was down. Crypto was down. April was the worst month for Nasdaq since 2008 (you remember the financial crisis). Sentiment is atrocious, the...
Friends It was a trading day that unfolded just as one would expect. We got a negative GDP print for the first quarter of 2022, so obviously stocks moved higher and gained strength throughout the trading session. Ok, I’m kidding (I think). Stocks did move...
Friends The bulls gave it a shot today. Stocks moved higher this morning with the Dow sporting a nice 400 gain at one point, but as we have seen a lot lately, the last hour of trading was not good for the bulls. After the close yesterday we got earning from...
Friends Yesterday’s relief rally didn’t carry over this morning which emboldened the bears. Worries that big tech earnings (Microsoft and Google after the close today, Apple and Amazon later in the week) could disappoint as did Netflix last week is sending...
Friends Not surprisingly stocks continued their slide at the open today, but interestingly enough buyers finally appeared this afternoon to turn the tide. A more than 400-point Dow downturn was reversed and by the close the market averages were firmly in the...
Friends As stocks opened several hundred Dow points higher, I read online a pundit declare that it appears that investors have come to grips with the Fed policy and are now focused on corporate earnings. Well, that lasted about 10 minutes. By late...
Friends One day does not a market make, but today’s surge in stock prices was impressive given the move higher in bond yields. It’s early, but earnings seem to be fine so far, so that helps, but today’s bullish action might just be best contributed to the fact that...
Friends After a very quiet day of trading, stocks slumped once again in the last hour of trading before trying to rally in the final minutes. More than any concerted selling, there appeared to simply be a lack of interest in buying. With Bank of America’s earnings...
Friends Today’s CPI release showed year over year inflation at 8.5% at the consumer level. Now, that sounds bad, and it is, but the silver lining might be that on a month-to-month basis the core inflation number (which excludes food and energy) was up .3% which...
Friends It was a rocky start to the week for stocks, and once again we are beginning to see the last hour of trading be the most damaging. While we were rallying a couple of weeks ago stocks were finishing strong at the end of each trading day. Now as we have weakened...
Friends It was a mixed day for stocks. The Dow moved higher posting a nice gain by the close while the Nasdaq struggled in negative territory. There was not a lot of news for market participants to deal with, but that will change in the coming weeks as we roll into...
Friends After another soft opening, market participants decided to do some buying this afternoon moving the market averages higher by the close. For the day, the Dow Jones Industrial Average was up 87 points to finish the day at 34,583. The S&P 500 was up 19...
