Friends It was a somewhat of a mixed day of trading for the market averages. While big tech names enjoyed a nice move higher helping both the Nasdaq and the S&P, many of the Dow names lingered lower throughout the trading session. On the economic front...
Friends Stocks reacted very favorably, in today’s trading session, to Fed Chair Powell’s comments this morning about jobs, inflation and just when the Fed might start to taper its asset purchases. The Fed Chair acknowledged that inflation has reached a level...
Friends The unfortunate and tragic events in Afghanistan dominated the news cycle today and certainly affected the psyche of the markets in today’s trading. All eyes were and likely still are on tomorrow’s speech at Jackson Hole (virtually at least) by Fed...
Friends Stocks continued their push modestly higher in today’s trading session. Interestingly, bond yields have also ticked up a bit over the last couple of trading sessions. Sometimes rising rates can be viewed as a threat to stocks, but market...
Friends Stocks modestly added to yesterday's gains as trading was somewhat quiet on this second trading session of the week. One big earnings win was delivered by Best Buy. The electronics big box store had a great quarter which sent its stock soaring. But, for...
Friends After a difficult week for stocks the bulls were ready to place their buy orders from the opening bell this morning- adding to Friday’s recovery gains. Yes, we did see the FDA officially approve the Pfizer Covid-19 vaccine, but today’s move seemed more...
Friends The growth story came under some serious scrutiny today. We suspected after recent consumer confidence numbers that the retail sales numbers were going to slump a bit and today’s release indicated that is exactly what has happened. We also suspected...
Friends Stocks got off to a rocky start this morning seemingly reacting to a weekend of negative news including the mess in Afghanistan and the Delta variant surging. But as the trading session wore on the buyers appeared to push some of the market averages...
Friends The markets traded today like a typical Friday in the middle of August. There wasn’t much movement in either direction as the bulls seemed content to sit with record gains, while the bears are still looking for an opening. For the day, the Dow...
Friends After yesterday's CPI number came in as expected, today’s PPI number was a bit hotter than expected. Suffice to say, and we all already know this, we are seeing inflation numbers that we haven’t seen for years. Now, the Fed has indicated that they...
Friends The Senate did pass the infrastructure bill today, so now it will head over to the House for a vote at some point. In the meantime, today’s market action was reflecting a belief that the bill will pass with rates moving up slightly and value stocks...
Friends For the second day in a row, the Dow Jones Industrial Average was the big winner with the likes of Goldman Sachs, J P Morgan Chase, Boeing, Caterpillar, Honeywell, 3M, Dow, Walgreens and Home Depot leading the way. Like yesterday, financials,...
Friends Today’s job openings number (JOLTS) set another record with more than 10 million job openings at the moment in the United States. What is even more fascinating is the number of folks quitting their current jobs. 3.9 million people quit their jobs in...
Friends This morning’s jobs report came in better than expected with 943,000 new jobs created in July. The unemployment rate dropped down to 5.4%. The bond market sold off on the news (rates up) and stocks were mixed with banks moving higher on the interest...
Friends We have had a somewhat up and down week with the market averages moving higher today after yesterday’s weakness. Stocks seem to settle down when rates stop going down and move back up a bit as we saw today. Yes, we know that low interest rates have been good...
