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...
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...
SPX $5209 Tagged
3:04 p.m. ET Treasury yields have dipped down to session lows (good for stocks… right now) after a stellar 30-year...
Early Update – SPX Just Above $5200, NASDAQ-100 More Evidence Of Selling
11:46 a.m. ET The open wasn’t great for Tech-heavy NASDAQ-100 futures, NQ (1m) jumping on initial claims, dumping into the...
A.M. Update – Initial Jobless Claims Jump
S&P futures are unchanged. This is from down -0.2% at 8 a.m. as yields were higher before Initial Jobless Claims....
Daily Wrap
I’m just going to say it plainly. Today was a really dull cash session. The major indices traded in relatively...
Afternoon Update
3:18 p.m. ET Most of the major averages are flat on the day. The DJIA holds a modest gain, while...
Early Update
12:17 p.m. ET It seems to me that we’re seeing pretty much exactly what I expected as measured moves were...
A.M. Update
S&P futures are down -0.4%. NASDAQ futures are down -0.6% and Russell 200 futures down -1%. The negative bias follows...
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...
Averages Pull Back As SPX Tags $5200 ($5200.23)
2:52 p.m. ET The S&P-500 tagged $5200 ($5200.23) and immediately pulled back from session highs. The NASDAQ-100 pulled back at...
Early Update
12:47 p.m. ET After strong closes for SPX and NDX yesterday, all averages are higher, but most with more moderate...