Friends That last time we saw inflation this high was 1982. Today’s Consumer Price Index showed a year over year increase in prices of 6.8%. The question continues to be will some of those pricing pressures wane over time once/if the pandemic runs its course,...
Friends It was a mixed day of trading with the Nasdaq coming under some selling pressure (down 1.71%) while the Dow was able to hold serve. On the economic front we got a weekly jobless claims number that was the best we have seen in over 50 years. But mainly...
Friends Stocks rocketed higher today adding to yesterday's nice gains. Today, Nasdaq was the big winner tacking on a whopping gain of 3%. Things did cool off a bit into the early afternoon only to close strong in the end. Market participants certainly seem a...
Friends The roller coaster ride in stocks continued as the market averages pushed nicely higher in today’s trading. Perhaps the Omicron variant will pack a less lethal punch. Perhaps the markets have come to grips with a more hawkish Fed. Or maybe today’s...
Friends The volatility continues as the Nasdaq led the way lower in today’s trading session. Today’s jobs numbers were a bit confusing as the non-farm payroll number came in much less than expected, but the unemployment rate fell to 4.2% which was good. The...
Friends As expected, market volatility continued today but this time stocks moved higher. Despite additional cases of the Omicron variant surfacing in the U.S., the oversold conditions in stocks attracted the dip buyers. More importantly, the advance was much...
Friends The first day of December started with a bang but ended with a whimper. By mid-morning the Dow was sporting a tasty 500 point rally. But by lunch time some of that advance had dissipated. Then we got what we knew was coming- a report about the first...
Friends Stocks tumbled again today. Let’s discuss. The markets were in disarray before the opening bell as an article in the Financial Times referenced Moderna’s CEO discussing the possibility that their vaccine may not be as effective against the Omicron...
Friends It is not real surprising that some buyers showed up this morning after Friday’s new Covid variant selloff. But, as we have mentioned things have been a little sloppy below the market’s surface for a while now as a narrow few have kept the market averages near...
Friends Well, the Friday after Thanksgiving is typically very quiet. But with news that a new Covid-19 variant is rearing its ugly head in Africa, markets were in disarray. It’s likely that given that many traders are out until Monday, today’s moves were driven...
Friends There was some economic data to chew on today, namely a good initial jobless claims number (lowest number since 1969), a revised 3rd quarter GDP number slightly higher, and a lousy durable goods orders number. But after a slew of mixed earnings data...
Friends The White House announced today that the U. S. will release 50 million barrels of crude from the Strategic Petroleum Reserve. This move was coordinated with developed nations around the world to combat the rise in energy prices. Well, that should push...
Friends Market participants didn’t have to wait until Thanksgiving to find out who was going to be heading the Federal Reserve for the next 4 years. Word came early today that President Biden had decided to stay with current Fed Chair Jerome Powell to continue...
Friends Covid-19 concerns, inflation concerns, who will be appointed the next Fed Chair concerns, all contributed to the sloppiness in stocks today. The tech heavy Nasdaq was able to post gains helped by behemoths Apple and Microsoft, but the Dow was weighed...
Friends Stocks were mixed today and trading was rather quiet. We continue to get good earnings numbers from retailers, today Macy’s and Kohl’s and shares of both companies did very well, and today’s economic data was also helpful with the Philly Fed...
