Intraday Update – Getting A Little Dicey
1:32 p.m. ET I won’t recap the risks outlined in the Early Update here, but the gist is that a...
Early Update – Lackluster Trade, Running Out of Gas?
12:01 p.m. ET The market is mixed this morning. The market had a similar feel to the first hour of...
A.M. Update
S&P futures are unchanged. The U.S. Dollar and yields are very modestly higher. The U.S. Dollar Index is up +0.15%...
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...
Afternoon Update
Heading into the close, it’s been a good day for the stock market with CPI better than expected, or perhaps,...
3C Update
2:05 p.m. ET I’m seeing good confirmation on the shortest, fastest, most sensitive (but also weakest) 3C timeframes for the...
Early Update – Goldilocks Economic Data and Defensive Bias
11:58 a.m. ET CPI came in mostly as expected, with headline CPI better (cooler) than expected. Retail Sales missed (weak)....
A.M. Update – CPI Cooler Than Expected
S&P futures are up +0.55% after CPI came in cooler than expected. Treasury yields moved sharply lower in response. The...
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;...
Intraday Update – Mega-Caps Starting To Lead
2:40 p.m. ET The mega-caps are starting to display better relative performance and support the major averages as yields drop...
Biotechs (XBI)
With the recent short covering due to the Reddit/GameStop crowd, we’re seeing some massive short covering in the Most Shorted...
Early Update – Massive Short Covering As Meme Stock Mania Returns
12:28 p.m. ET It’s been a busy and volatile morning. I’ve been listening to Powell and watching the market. As...
A.M. Update — Hot PPI
S&P futures are flat, but just went through some spectacular volatility on the release of the Producer Price Index. NASDAQ-100...
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 On The Way
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Early Update – Consumer Expectations of Inflation Take Some of the Shine Off Early Gains
12:11 p.m. ET The market has been fluid this morning, from 10 of 11 sectors higher and yields 3 bp...
A.M. Update
S&P futures are up +0.25% as Treasury yields and the Dollar start the week pulling back. The 10-yr yield is...
Afternoon Update
The day was duller than I expected given the early action after the University of Michigan Consumer Sentiment report. We do...
Early Update – Uglier Than The Averages’ Percent Change Look
12:06 p.m. ET Last night I presented some data that suggests the U.S. consumer may be near tapping out. This...
A.M. Update
S&P futures ae up a little over +0.2% entering the final trading day of the week. The major indices are...