Friends Despite a robust retail sales number stocks still moved lower at the open this morning. The Russians didn’t move on Ukraine, but market participants aren’t convinced that Mr. Putin is just going to take his ball and go home. Stocks were lingering in...
Friends It appears for the moment that the Russians are holding off/reconsidering their potential engagement with Ukraine. That helped take some tension out of the stock market and shave a few dollars off of oil prices. This morning’s PPI number was hotter than...
Friends Market participants are dealing with a double dose of uncertainties at the moment as we get hour by hour reports of Russian movements at the Ukraine border, and constant Fed Speak from Fed officials about the course of the Fed’s upcoming tightening...
Friends It was already a somewhat gloomy day on Wall Street. Stocks had tried to show a little resilience after yesterday’s inflation fear induced drubbing, but the hangover was palpable. Sentiment was dreary, the bears were dominating business television, and by...
Friends So here is the recap of today’s market action. First, this morning before the open we got a hot January CPI number hinting that inflation hasn’t yet begun to abate. The hot inflation number caused the yield on the 10-year Treasury Note to move up above 2%....
Friends It was another spirited trading session for the bulls as even hawkish comments from a Fed President could dampen the enthusiasm. I asked yesterday if investors were becoming more comfortable with the whole idea of higher interest rates. Of course, the bears...
Friends Are market participants beginning to become comfortable with the realization that interest rates are going higher? We saw the yield on the 10-year Treasury Note move above 1.95% for the first time in a couple of years, and stocks seemed to be just fine...
Friends It was a sloppy day of trading without much conviction on either side of the playing field. Big Tech names continue to be under selling pressure and the less quality growth names from the past couple of years have yet to find a bottom, though many are...
Friends Just as Meta (Facebook) took the wind out of the sails of the bulls on Thursday, Amazon actually helped get things back on track after a nice earnings release after the close yesterday. Then this morning we got a very good, but very confusing, jobs report....
Friends The bulls were feeling pretty good about themselves after four days of higher stock prices, until about a minute or two after the close yesterday. That’s when Facebook (Meta) released their earnings. Oops. That didn’t go so well. The huge social media and...
Friends, Four straight up days in a row. The bulls have built on mainly good corporate earnings (see UPS, Visa, AMD, GOOGL, Apple, Microsoft and not PayPal or Netflix) over the past several trading days. Today’s ADP private payroll number was a negative 301,000 jobs...
Friends After a pretty difficult month for stocks, the bulls were able to get the month of February off to a good start. Market participants appear to be accepting the direction that the Fed is taking, expecting as many as 5 or 6 rate hikes this year (I still need to...
Friends Well, though the band had some trouble staying in key this month, things did end on a high note. January was an extremely volatile month for the markets. We’ve explored all the headwinds that we had to deal with as we entered the new year, the Fed, inflation,...
Friends It was a week defined by volatility. Intraday moves were quick and stunning. Market participants had to deal with corporate earnings (mainly good), economic data (mainly good, but some mixed) and the results of the FOMC meeting and Chair Powell’s press...
Friends Ok, I won’t say it was a wild day of trading again. But it was. If you include overnight futures trading, we went from down almost 500 points overnight to up 600 after the open and then all the way back down into negative territory. Things did settle...
