It was another odd day of trading with the Dow sporting a nice gain, the S&P 500 lower, and the beleaguered Nasdaq once again left holding the short straw. The culprit again was the bump up in the longer term yields which puts pressure on growth stocks, but seems...
Friends Wow, what a wild day of trading. Things began with a stronger than expected jobs report which sent long term interest rates higher. The paradigm has been rates higher, stocks (at least tech stocks) lower. But, market participants seemed a bit confused today....
Friends Market participants threw a little tantrum today when Fed Chair Powell indicated that, though the Fed was indeed concerned about the back up in longer term interest rates, they weren’t ready to do anything about it. In other words they are not ready to...
Friends It was another ugly day for the Nasdaq, as the high flyers of the pandemic era continue to see the air let out of the bubble. Bubble, you ask? Well, yes. When stocks begin to trade at ridiculous multiples not only to earnings but just to sales, then...
Friends Stocks gave back some of yesterday’s gains as the bulls seemed to back away from the table just a bit. Again, the tech heavy Nasdaq fared the worst as many of the big name darlings saw selling pressure. But it wasn’t a day of rotation as recent winners,...
Friends It was a very good start to the new month for stocks today. Perhaps more vaccines getting into circulation and the hope that those who want to be vaccinated will be so within the next couple of months, helped stir animal spirits in market participants....
Friends Not that Apple, Facebook, Amazon, Microsoft and Google represent the dark side of the force, but in recent times they have represented the Empire, basically carrying the market averages in 2020 and prior years. But, as we have seen, these market leaders...
Friends Interest rates have been rising for months now, but have accelerated to the upside in the past few days. Remember, the 10 year Treasury note was as low as .50% last year, but today we saw that yield rise to nearly 1.60% at one point. Sure, 1.60% yield...
Friends Wow, it was another day of wild trading. After being down sizable in early morning trading, stocks recovered to post impressive gains by the close. It was a day of strange bedfellows with the crazy stocks like GameStop getting a second wind (or is it...
Friends What a wild day for stocks. We saw high flyers tumbling out of the sky, Fed Chair Powell reminding everyone that the Fed is still firmly in a dovish sense, and some of those boring old companies that some of us old guys tend to gravitate towards...
Friends In recent weeks, we have seen a bit of a shift from growth to value, a rotation if you will, in the stock market, and today was the most pronounced example of that rotation. While the Dow showed modest gains, we saw quite a bit of selling in the...
Friends The week from hell here in Texas is almost over. As for the markets, things were a bit choppy today as the market averages struggled to show any real direction. Market participants are focusing their attention back on vaccines and economic reopening....
Friends If you want to understand why the financial markets are difficult to oversee and why Congress has such a difficult time designing legislation to do so, today’s Committee on Financial Services zoom testimony with the GameStop situation players was...
Friends Boy, it has been a quiet week. Yesterday the Dow was up a bit and the S&P was down a tad, and today it was just the opposite. New issues continue to pop (Bumble today), SPACS continue to be formed and craziness in pot stocks is this week’s sideshow, but...
Friends It was a choppy and somewhat directionless day of trading, as stocks dipped into negative territory early in the trading session, pushed into positive territory midday, only to falter towards the close. There was no real market moving headlines, hence the lack...
