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Wednesday's Market Minute: Market Purgatory
Wednesday, July 12, 2023 - 12:24pm | 386Last week, bond yields surged to year-to-date highs, then stopped short of breaking out. The economy’s been better than expected, but still slowing from a year ago. The Nothing-Can-Stop-This AI rally has stopped, but it’s not rolling over. The S&P 500’s been stuck in a roughly...
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Signs of Progress: Market Builds On Gains After June Inflation Growth Undercuts Expectations
Wednesday, July 12, 2023 - 12:21pm | 2310(Wednesday market open) Comforting news on U.S. inflation provided Wall Street an early lift this morning, but expectations for a rate hike later this month remain extremely high. U.S. core consumer inflation growth slowed to 0.2% in June, below analysts’ 0.3% expectations and down from...
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Optimists Club: Positive Feelings Build Ahead Of Tomorrow's CPI Data As Recent Inflation Signs Soften
Tuesday, July 11, 2023 - 1:31pm | 2247(Tuesday market open) An uneventful start to the week belies the excitement ahead. Inflation data and earnings season loom, with tomorrow’s Consumer Price Index (CPI) representing the opening salvo. There’s a strong likelihood that Wednesday’s eagerly awaited June...
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Tuesday's Market Minute: Meta Platforms: The Death Star To Social Media Competition
Tuesday, July 11, 2023 - 1:20pm | 390It’s 2005. You upload your Nikon digital camera photos onto Photobucket. Reassess your Top 8 friends list. Tom is everyone’s favorite friend. It’s the era of Myspace, and the onset of the booming social media industry. Life is good. Anyone who lived through the rise (and fall) of...
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Monday's Market Minute: From Jobs To Inflation
Monday, July 10, 2023 - 2:45pm | 474As investors shift their focus away from the jobs report this past Friday, to the busy week ahead, at the top of the list of potential market movers we have some closely-watched data. Let's begin our look at the week ahead with numbers you should be watching. This morning, we kick things off...
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Summer Vacation Ends Early: Pivotal Week Of Inflation Data, Bank Earnings On The Way
Monday, July 10, 2023 - 2:25pm | 2163(Monday market open) A vital week on Wall Street packed with summer fireworks begins quietly today with investors bracing for fresh inflation data Wednesday and big bank earnings Friday. Enjoy the peace while it lasts. The first week of earnings season gets underway with the S&P 500...
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Weaker Jobs Growth of 209,000 Not Soft Enough To Change Market's Rate Hike Expectations
Friday, July 7, 2023 - 12:54pm | 2017(Friday market open) June jobs growth cooled to 209,000, the Labor Department said Friday—well below market expectations and in contrast to a sizzling private jobs market report that sent Treasury yields soaring yesterday as investors worried about future interest rate hikes. The...
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Friday's Market Minute: Market Suggests What's Good For The Economy Is Good For Stocks
Friday, July 7, 2023 - 12:49pm | 335The prospect of another rate hike in July likely will increase on the back of solid jobs report, and equity markets might follow through with additional short-term weakness as the shift in long-term interest rates and inflation expectations adjusts accordingly. The consensus is for 225,000 new jobs...
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Thursday's Market Minute: Crude Oil Cracking Resistance, But No Big Breakout Yet
Thursday, July 6, 2023 - 11:53am | 356It’s been a challenging couple of years for crude oil bulls as the /CL futures contract has fallen by almost 45% since the highs of 130.50 in March 2022 and price has steadily moved lower since June of last year. More recently, traders have seen a descending triangle-type pattern, with price...
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Treasury Yields Spiking As Market Looks Ahead To Jobs Data, Raising Valuation Concerns
Thursday, July 6, 2023 - 11:48am | 2169(Thursday market open) Things are heating up, and we’re not just talking about the July weather. A week from the start of Q2 earnings season, Wall Street is on tenterhooks awaiting tomorrow’s crucial June Nonfarm Payrolls report. In the meantime, there’s a host of...
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Shortened Week Resumes, With Eyes On FOMC Minutes And Tomorrow's Labor-Related Reports
Wednesday, July 5, 2023 - 12:17pm | 2207(Wednesday market open) Investors back from holiday cookouts will navigate a thicket of labor-related data the next few days. Tomorrow brings the June ADP National Employment Report, monthly job openings, and weekly initial jobless claims, followed by Friday’s crucial June...
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Wednesday's Market Minute: Awaiting Action In Bonds
Wednesday, July 5, 2023 - 11:57am | 389My risk radar – the red light/green light system I use to describe stocks, bonds, the dollar, and crypto on my afternoon show – has reflected the range-bound nature of the major asset classes for much of this year: everything's been yellow for some time. The exception, of course, is...
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Data-Packed: Short Day Features ISM And China Manufacturing As Market Digests Solid Tesla Production
Monday, July 3, 2023 - 11:59am | 1593(Monday market open) The second half of 2023 kicks off on a shortened schedule today, with investors digesting positive delivery results from Tesla (NASDAQ: TSLA) and awaiting key manufacturing data. Major indexes began the day without much direction, but Treasury yields, the U....
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Monday's Market Minute: Further Production Cuts Spark Higher Crude Prices
Monday, July 3, 2023 - 11:53am | 383We begin the holiday-shortened week with the price of WTI crude oil up around 1% on news of further production cuts. Reports that Saudi Arabia will prolong their unilateral cuts from earlier this month of 1 million barrels a day, and that Russia plans to add to it with fresh curbs, have sent the...
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Stocks Up 14 (%) In First Half, But Rising Yields, Rate Hike Fears Raise Concerns For Offense
Friday, June 30, 2023 - 11:39am | 2068(Friday market open) The latest batch of U.S. inflation data showed signs of progress, fueling gains on Wall Street as the market winds down the first half. Personal Consumption Expenditures (PCE) prices, the inflation metric most closely watched by the Federal Reserve, rose a tepid 0.1%...