Market Update- More Defensive, Data Center CDS Explode higher Ahead of META Earnings
The broader market has been supported by lower Treasury yields and a pullback in crude oil prices after reports that...
A.M. Update
S&P futures are down -0.15% and Nasdaq-100 down -0.45%, while Dow & Russell 200 futures are flat. AI-spending concerns and...
Black Monday Anniversary; Limited Conviction as Buyers Show Up & Back Off
Monday was the 39th anniversary of 1987’s Black Monday Crash… The DJIA (daily 1987) lost -22.6% – the largest 1-day...
Market Update – Technical/Price Support
Rising energy prices and higher rates have been weighing on a lot of cyclical stocks since early August. Over the...
A.M. Update
S&P futures are up +0.45% in a dead-cat bounce to a lower high after the Nasdaq suffered its worst week...
Afternoon Update – The Last Leg Is Breaking
The major indices recently hit new lows for the session before getting a needed bounce close to the bottom of...
What a Mess.
This is the trap that has been building. I’ve been trying to flesh out the risk in the last 2...
Strike on Saudi East-West Pipeline (Yanbu): Oil Higher, Yields Higher, Tech Hedges Burnt
This is a good example of what I was talking about yesterday. How do you hedge AI risk (CoreWeave down...
Quick Intraday Update
I think they’re going to get a handle on this early tech weakness and turn things around shortly. I was...
AI, SEMIS, TECH & YIELDS
Here we go again. AI names, Mega Caps/Hyperscaler and Semis are weighing on the broader market with a soft start....
A.M. Update
Index futures are mixed with S&P up +0.15% and Nasdaq-100 down -0.2%. Some weakness in semiconductor and AI-related names remains....
Yields Are Falling Despite Hot Inflation. The Bond Market Is Watching AI Instead
As Tech goes, the S. Korean KOPSI was looking ugly overnight, down more than -7.5%. And while we have the...
Afternoon Update
Technical support is clustered across the major averages and sectors: the S&P 500 at its 50-day, the Nasdaq-100 testing the...
Market Update
Technology stocks faced another round of heavy selling at the open amid persistent concerns about the financing of the massive...
A.M. Update – Tech Troubles Persist
S&P futures are down -0.3%, while Nasdaq-100 are down-1.25% as Technology stocks remain under pressure this morning amid growing concerns...
AI Mega-Caps Finally Act Like Long-Duration Stocks as Yields Ease Despite Hot CPI
CPI was expected to be hot, but it was hotter than expected. September headline inflation accelerated to 3.7% year-over-year from...
Afternoon Update – Looks Like the 50 Holds
SPX (DAILY @50-D) SPY (1m) I could go either way on this chart. I don’t find it all that convincing...
Market Update – Does the 50-day Hold?
It has been a rough day as Oct. rate hike odds nearly doubled from 22% yesterday to 41% today as...
A.M. Update – Hot CPI
S&P futures are down -0.35% from up +0.2% before CPI. Nasdaq-100 futures are down -0.7% and Russell 2000 are down...
Energy Bid & AI Questions
Monday night/Tuesday morning Nasdaq-100 futures were weak, alongside a sharp drop in South Korea’s KOSPI. The index is heavily concentrated...