Friends Despite another disappointing and actually quite disturbing weekly jobless claims number, stocks once again pushed higher. Again, we are hearing that a stimulus deal is in the works, and that is likely continuing to be a tailwind for stocks. So, not...
Friends The Federal Reserve concluded its final FOMC meeting today and the result was not unexpected. There was no change in interest rates and the indication from the release is that the Fed Governors don’t see an increase in interest rates by the Fed for at...
Friends More hope for a stimulus deal helped spur a rally in the market averages. Evidently, the big players are meeting this afternoon and hopefully something good will come out of it. Again, the stock market has surely done well this year, but so many small business...
Friends The vaccine is being shipped, the first recipients have begun to receive their first shot, and stocks responded well in early morning trading. But, other than the tech heavy Nasdaq, stocks quickly gave up their gains and by the close the Dow and the...
Friends Despite sizzling action in IPOs and numerous headlines pertaining to Covid-19 vaccines, it was a non-eventful week for the market averages. Congress can’t seem to agree on a stimulus bill, but of course that has been the case for months now so it...
Friends It was a hugely successful day in the IPO market led by DoorDash, but the success of the IPO's seemed to suck all of the air out of the room (or the money out of the Nasdaq). As the IPO shares soared, high flying stocks on the Nasdaq tumbled. By the close, the...
Friends It was a positive day for stocks, but for some reason it didn't feel that bullish. Maybe I am just adding my own biases into the equation, but things just feel a little frothy/toppy at the moment. IPO's are rolling out in record numbers, via SPACs, investors...
Friends With little news on the stimulus front, and nothing new on the Covid-19 vaccine front, the market averages (other than the Nasdaq) spent most of the day in negative territory. Are we a bit overbought at the moment? Probably yes. Are stocks a bit overvalued at...
Friends The jobs number this morning was a bit disappointing, but it may end up being a part of the emphasis that helps get a stimulus deal done next week. So, despite the disappointing jobs number stocks enjoyed another good day. Once again, we are seeing much...
Friends More hope for an “interim” stimulus deal seemed to keep stocks in the green for most of the trading session, though late news that Pfizer is facing some supply chain issues for its vaccine did take some wind out of the bulls’ sails. What continues to be...
Friends It was a somewhat quiet day on the headline front and an equally quiet day on the stock trading front. The Dow and the S&P were able to squeak out a win, while the Nasdaq struggled a bit. The ADP private payroll number came in a little shy of...
Friends Stocks got quickly out of the starting gate this morning, but seemed to run out of gas as the trading session wore on. We had Mnuchin and Powell in front of the Senate Banking Committee, Biden introducing his economic team, and the Senate floating possible...
Friends November ended up being a very good one for the stock market, though it did close on a bit of a sour note today. More than reading anything nefarious into today’s proceedings, it might be best explained by saying that after the advance we have seen...
Friends After yesterday’s historic day for the Dow Jones Industrial Average, it appeared that the bulls spiked the ball and went home for Thanksgiving. Yes, there was a little profit taking in some of those Dow names, but market participants still showed interest in...
Friends We mentioned that markets tend to favor Thanksgiving week and so far so good. The markets seem to be enamored with the choice of Janet Yellen as the next Treasury Secretary and there was a collective sigh of relief when word came that the administrative...
