Daily Wrap
The stock market exhibited mixed action today. There wasn’t a lot of conviction from buyers or sellers after the holiday...
Afternoon Update
As expected in the Early Update, the S&P has been hanging around $5300 most of the session. It probably closes...
Daily Wrap – Key Reversal Day
I have to wonder whether Nvidia’s blowout earnings — the market’s fulcrum event of the week — just became a...
Daily Wrap – The Fed Is More Worried About Inflation Than Portrayed, and Nvidia BEATS
The market exhibited mixed action again, almost frozen most of the day until the FOMC minutes were released. The hawkish...
Daily Wrap – Amid A Quiet Market Transports Have An Ugly Day
Within 5 minutes of looking at the market this morning my quick take (before I went through everything and posted...
Daily Wrap – Underappreciated Inflation Risk Building?
The averages were mixed in thin trade ahead of the week’s fulcrum events. In my view, that’s primarily Nvidia’s earnings...
Afternoon Update – Stocks Dead, But Commodities Jumping & Threatening To Resume The Reflationary Impulse
3:15 p.m. ET I’m getting this post out earlier than usual because I think today’s developments are huge and I...
Daily Wrap
Yesterday’s cooler than expected Headline CPI and weaker than expected Retail Sales were the perfect Goldilocks combo of rate-cut odd...
Daily Wrap – Bad News Is Good News
A week ago (May 10th) I wrote, “We’re in an environment in which “bad economic news is good news for...
Daily Wrap – Producer Price Index Reflating At Fastest Pace in 12 Months
The three important stories for the market today were 1) Much Hotter than Expected Inflation in the Producer Price Index;...
Afternoon Update / Daily Wrap
Today is my mother’s 80th birthday, so we’re going to celebrate her. There will be no Daily Wrap tonight, but...
Afternoon Update
The day was duller than I expected given the early action after the University of Michigan Consumer Sentiment report. We do...
Daily Wrap – Jobs Detiorating, SPX Measured Move Met
In last Friday’s Afternoon Update I wrote, “I expect next week will be fairly smooth sailing [for stocks] with earnings...
Daily Wrap
I’m just going to say it plainly. Today was a really dull cash session. The major indices traded in relatively...
Daily Wrap – SPX $5200 (and 23 cents)
Another light day on the macro economic data front and a benign environment in rates should have provided a nice...
Daily Wrap – Closing in on Measured Moves and Gap Fills
The stock market followed through on Friday’s gains with the market pushing through local price resistance and technical resistance levels...
Afternoon Update
There’s not much to add to today’s updates. We have price and technical resistance here as the market’s oversold bounce...
Daily Wrap
Index futures gained overnight, but gaining in what I described this morning as, “a steady upward slope throughout the overnight...
Daily Wrap – FOMC
The major indices traded in relatively narrow ranges in the early going as investors looked ahead to this afternoon’s FOMC....
Daily Wrap – Economic Data Adds Slowing Growth to Rising Inflation
Today’s downside bias in the stock market was driven by a jump in market rates, initially sparked by this morning’s...