Intraday Update – Tariffs Announced, I Guess…
211 p.m. ET I think we were all expecting a 1 p.m. news conference from President Trump. Hasn’t happened, but...
Reciprocal Tariffs On the Way
12:39 p.m. ET Today has been a busy day already (mostly on the political and geopolitical fronts, but economic data,...
A.M. Update
S&P futures are up +0.15% as President Trump is set to unveil reciprocal tariffs at 1:00 PM. Yields are down...
Daily Wrap – Hot CPI Sparks 10bp Jump In 10-Yr.
The Consumer Price Index (CPI) didn’t go the markets’ way this morning, coming in hotter than expected, accelerating MoM, and...
Afternoon Update
It’s been an interesting day with inflation coming in hotter than expected, the Republican House of Representatives budget and tax...
CRB Index Breaking Out
103 p.m. ET This certainly won’t help the next CPI report…...
A Lot To Consider – HOT CPI, $4.5 Trillion Tax Cut
1259 p.m. ET There’s a lot of movement so far today. It’s not just CPI, but Powell speaking and several...
Hot CPI
Both headline and core CPI rose more than expected in January. Headline CPI jumped 0.5% MoM consensus 0.3%) pulling CPI...
Daily Wrap – WTI Crude Oil & Rates Getting Interesting
Today’s cash session trade was mixed and little changed at the index level, although index futures were weaker overnight on...
Afternoon Update
It’s still a pretty quiet, mixed day for the major averages with Small Cap underperformance. SPX 0%, DJIA +0.25% (Transports...
Early Update – Oil Getting Interesting – Powell Testifies
1231 p.m. ET I’m trying to multi-task this morning, listening to Powell’s testimony before Congress (day one of the 2-day,...
A.M. Update
S&P futures are down -0.4% ahead of Powell’s semi-annual congressional testimony (10 a.m. ET). The negative bias comes amid uncertainty...
Daily Wrap
The last couple of weeks we’ve had “weekend” trading sessions. This weekend’s had a bit of a monkey-wrench thrown in...
Afternoon Update
There’s been very little movement in the averages, S&P sectors or style factors since the earlier market update. (2m) There...
Market Update – Fairly Calm, Some Inflationary Commodities
1240 p.m. ET Friday the market was getting ugly and looking like an ugly Monday morning in what’s become a...
A.M. Update
S&P futures are up +0.6%. The market has taken new tariff talk in stride, not reacting much after President Trump said...
Afternoon Update
The stock market started the session on neutral footing. The major indices were moving higher early on, bolstered by mega...
Early Update – Inflationary Data
1257 p.m. ET I didn’t want to get too much into the Payrolls report given there’s a lot to pour...
A.M. Update
S&P futures we’re flat into payrolls and after a little knee jerking on the payrolls report, they’re still flat. Amazon...
Daily Wrap – Amazon Disappoints
I’m going to ep tonight on the short side given the key events were afterhours and tomorrow morning with the...