Friends It was a difficult day for stocks as fears of virus variants possibly putting the brakes on the great reopening sent interest rates lower as the 10 year Treasury note yield plunged below 1.30%. Stocks got off to a rocky start also with the Dow falling...
Friends While bond yields continue to drift lower, confounding market participants, stocks reacted positively to the Fed minutes that were released this afternoon. The takeaway from the notes was that while discussing the all-important asset purchase program Fed...
Friends For years when stocks rise we heard it referred to on Wall Street as a “risk on” day. Down days have been referred to as “risk off” days. I’d like to amend that just a bit as now I would refer to today’s down move as an “inflation off” move. Interest rates...
Friends The markets seemed to feel that today’s job number was a Goldilocks type of report. The number of jobs created was a bit higher than expected but not too hot as to stoke imminent Fed action fears. The result was a nice rally in stocks and bonds (yields lower)...
Friends It was a quiet but positive start to the second half of the year for stocks. The first half of the year will be a hard act to follow for the market averages, but sentiment remains constructive for the moment. For the day, by the close the Dow...
Friends It was a good finish to the quarter and first half of the year for the bulls. Though the NASDAQ didn’t participate in today’s move higher, the S&P and the Dow both tacked on some gains on this last trading day of June. By the close, the Dow Jones...
Friends Hot, hot, hot would best describe the economic data we got today. It’s probably no surprise that we are seeing record highs in home prices, but in addition to the boom in home prices we saw a better than expected rise in consumer confidence. The reopening has...
Friends After last week’s move higher in stocks, today’s action had a little more selectivity to it. The Nasdaq buoyed by tech names was today’s winner, while the Dow weighed down by some lagging industrial and energy names was today’s loser. It is not surprising that...
Friends The bulls finished off a good week of trading-totally reversing last week’s losses. Some dynamite earnings from Nike may have given market participants a glance at what we have in store as earnings season kicks off in a couple of weeks. We are likely to see...
Friends It was a very good trading session for the bulls and nearly every sector of the market participated in the move higher. The move higher was already firmly in place by the time the President announced that a smaller bipartisan infrastructure deal had been...
Friends It was a very quiet day of trading, reminiscent of the pattern we were seeing before last week’s FOMC meeting. Stocks tried to stay in positive territory during most of the session, but the buyers seemed to disappear in the last 20 minutes of trading....
Friends Things got off to a shaky start this morning as crypto currencies were tumbling before the opening bell. But, after the market averages experienced some minor losses in early trading, crypto currencies rallied and the bulls stepped back into stocks. It...
Friends It was a difficult day and a difficult week in general for stocks. St. Louis Fed President Bullard spoke in a more hawkish tone this morning in an interview on CNBC, and with market participants already feeling a bit confused/jittery about things, that was all...
Friends There seems to be some confusion in the markets since the release of yesterday’s Fed statement. The first reaction in bonds was for prices to move lower while yields moved higher – interpretation being that inflation is going to continue to be hot and interest...
Friends The Fed’s FOMC statement did illicit a response from the both stocks and bonds, but in reality the Fed Chairman really didn’t indicate that the central bank’s monetary policy is going to change any time soon. Yes, the Fed did acknowledge that inflation is a...
