market update

I hope you all enjoyed a relaxing Independence Day and Canada Day long weekend. Despite everything the stock market has been unbelievably resilient. The NASDAQ posted its strongest first 6 months of the year since the early 1980s. What do we think the next 6 months hold? Market Prices as of 1 pm...

Especially Apple (NASDAQ: AAPL) which is on the cusp of making history by becoming a $3 trillion market cap company. Apple hit $3 trillion in early 2022, but didn't manage to close there. The stock is up 51% year-to-date. Will Apple keep soaring to new heights? Market Prices as of 4 pm...

The housing market is resilient. Sales of newly constructed homes were up 12.2% in May from April, and up 20% from a year ago. Homeowners with ultra-low mortgage rates don’t want to sell and buy another home at a much higher rate according to Bloomberg. Will this continue? Market...

SEC approves first ever leveraged Bitcoin Futures ETF. Bitcoin (CRYPTO: BTC) is up 83% in the past 6 months. Is it going higher? Market Prices as of 4 pm EST, 6/26/23 Macro  President Joe Biden is doing his best Franklin D. Roosevelt impression. Biden has announced a plan to provide high-...

It’s been an amazing first half of the year for the NASDAQ. The NASDAQ 100 index is on track for best first half to a year ever. Can the run continue? Market Prices as of 4 pm EST, 6/23/23 Macro Vladimir Putin had quite the weekend. On Friday, Yevgeny Prizogozhin, the leader of Russia...

Warren Buffett has donated another $4.64 billion of Berkshire Hathaway stock to five charities. This boosts his total giving since 2006 to more than $51 billion. Market Prices as of 4 pm EST, 6/22/23 Macro New filings for unemployment benefits are hovering at the highest level since October...

The Bank of England delivers surprise half-point rate hike to 5%, the highest in 15 years. They say the risks to inflation are “skewed significantly to the upside”. Market Prices as of 4 pm EST, 6/21/23 Macro Jerome Powell will make his way back to Capitol Hill this morning...

The S&P earnings yield, corporate bonds and treasury bills are all offering the same yield of 5.3%. So a medium risk, low risk and no risk asset is offering the exact same yield…  What a time to be alive! Market Prices as of 4 pm EST, 6/20/23 Macro Fed Chair Jerome Powell heads to...

Jerome Powell said the FED’s forecasts have been wrong on inflation the last 2 years. Now he’s saying rate cuts aren’t going to happen for another couple years. Can we really depend on these projections anymore? Market Prices as of 4 pm EST, 6/14/23 Macro Mortgage demand picked...

It’s FED day. Will they raise interest rates or pause? Here’s what Wall Street thinks:  25 BPS HIKE � CITI CREDIT SUISSE TD VISA NO RATE HIKE 🙅‍♀️ BARCLAYS BMO BLOOMBERG GOLDMAN SACHS JP MORGAN MORGAN STANLEY RBC WELLS...

CPI inflation for May comes out at 830am. Here are Wall Street estimates: GOLDMAN SACHS: 4.2%  UBS: 4.1%  MORGAN STANLEY: 4%  JP MORGAN: 4.2%  BARCLAYS: 4%  VISA: 4%  BLOOMBERG: 4% ME: Still too damn high Market Prices as of 4 pm EST, 6/12/23 Macro...

This week is one of the most important of the summer:  - CPI Inflation: Tuesday - PPI Inflation: Wednesday - FED Meeting: Wednesday  - Retail Sales Data: Thursday  - Initial Jobless Claims: Thursday Buckle up! Market Prices as of 4 pm EST, 6/9/23 Macro Former President Donald Trump...

The S&P 500 just entered a new bull market. It’s up 20% from the October 12, 2022 low. Finally, some good news! Market Prices as of 4 pm EST, 6/8/23 Macro Donald Trump has been indicted by a federal grand jury for his handling of classified documents. Until yesterday, no former...

Ray Dalio, founder of the world’s biggest hedge fund, says the U.S. is going to issue a large amount of government debt and there is a shortage of buyers. He calls this the beginning of “big cycle debt crisis”. Market Prices as of 4 pm EST, 6/7/23 Macro The Bank of Canada (BoC)...

Delinquencies spiked in May on mortgage bonds tied to offices. Vacancy rates on office space across the U.S. has hit a record +16%. LA is at +30% vacancy for downtown office space. Yikes. Market Prices as of 4 pm EST, 6/5/23 Macro Gary Gensler and the SEC are coming after Changpeng Zhao...