Market Update – Averages Mixed
Two competing narratives are duking it out with a bit of overlap: Procyclicals (energy, financials, small-caps) and defensives (utilities, staples)...
A.M. Update
S&P futures are off overnight lows but still down -0.4% with Nasdaq 100 futures down -0.6%. In Washington, NBC News reports that...
Daily Wrap – Less Hawkish Than Expected
A few points from today’s Fed/FOMC: Reduced the federal funds rate by 25 basis points to 3.50% to 3.75%, as...
Afternoon Update
I think it’s safe to say that the Fed’s rate cut was more dovish than expected. The reaction is dovish...
FOMC
The Fe cut by 25 bps to a corridor of 3.50% to 3.75% as expected, and said it will begin...
Pre-FOMC Update
1:05 p.m. ET The gap between the S&P and 10-yr Treasury futures is wide; at least as wide as it...
A.M. Update
S&P futures (-0.07%) are set for a flat start in front of the FOMC decision at 2:00 p.m. ET, Fed...
Daily Wrap – FOMC On Deck
The averages were very little changed today ahead of the FOMC. While not as widely anticipated in the shadow of...
FOMC Drift
1:50 p.m. ET The day has the typical feel of the FOMC drift. A majority of sectors are higher, as...
A.M. Update
S&P-500 futures (-0.05%) are flattish even as yields pull back 2 to 4 bps, as are most other asset classes....
Daily Wrap – Déjà Vu All Over Again: Yields Reprise the October Sell-Off Script
Equities ended modestly lower, with only the Tech sector (+0.7%) in the green—nowhere near enough to offset broad-based selling elsewhere....
Afternoon Update
The corporate news since Friday is simply off the chain. However, outside of specific stock-related moves the main driving factor...
Market Update – Yields Weighing on Stocks at Potential Right Shoulder Pivot, Patiently Waiting For Strong Tactical Signals
1:57 p.m. ET There’s a lot of news in numerous stocks, but the key development is tightening of financial conditions...
A.M. Update
S&P futures are up +0.15%, carrying over last week’s right hand turn into a more lateral price trend… S&P futures...
Afternoon Update
About 45 minutes before the close, the SPX is a third of a percent higher for the week as compared...
Market Update
1:30 p.m. ET PCE came in as expected. The PCE Price Index was up 0.3% month-over-month, as expected, and the...
A.M. Update
S&P futures are unchanged. Yields are a touch higher, no more than one basis point. Bitcoin is down -1.65%. The...
Daily Wrap – Another Flat Day; As Expected
Most of the major averages spent the session in a tight range near their unchanged mark, drifting sideways as expected...
Afternoon Update
I posted this chart (S&P futures vs. 10-yr Treasury futures) last night. I hoped it made sense. From the strategic...
Market Update – Muted Action; Killing Time
1:21 p.m. ET The day is mixed with a neutral feel thus far, but one that keeps the averages in...