Daily Wrap – How Do You Overstate Job Gains By 911,000 Jobs? Unacknowledged Recession?
The market’s response today was somewhat surprising following the preliminary benchmark revision to payroll estimates for March 2024 to March...
Afternoon Update
The S&P and Nasdaq-100 are up less than 0.25%. Dow Transports and Small Caps are clear laggards, along with Materials,...
ABI $15.60
Just a quick update as I know there’s a lot of interest. Currently 15.60 The initial annual Payrolls revision —...
iPhone Air – Not Impressed
2:37 p.m. ET As widely suspected, Apple (AAPL -1.5%) introduced a new iPhone–the iPhone Air– it’s thinnest model yet, and...
911,000 Jobs Revised Away, Rate Cut Expectations Shift Modestly Hawkish
12:43 p.m. ET The BLS preliminary benchmark revision for the 12-month period ending March 2025 shows 911,000 fewer jobs than...
A.M. Update
S&P futures are up +0.1%. The Bureau of Labor Statistics will release its annual payroll benchmark revision at 10am ET...
Daily Wrap – Gold New Record High
Compared to last week, today got off to a fairly quiet start for the benchmark S&P 500. (10m)- Fridays payrolls...
Afternoon Update
The S&P 500 (+0.2%), Nasdaq-100 (+0.5%), and DJIA (+0.2%) still hold on to today’s modest advance, though they now sit...
Major Averages Mixed; Mega Caps Outperform; ABI @ 15’s
The tech-heavy Nasdaq leads the way as mega-cap tech names see notable early strength after a retreat on Friday. Broadcom...
A.M. Update
S&P futures are up 0.2%. Whereas last week was all about jobs data, this week is about inflation, with the...
Afternoon Update – Jobs Report Bad, But Not Bad Enough?
Investors’ quandary has centered around weakness in the labor market, and the balance between increased rate cut expectations and faltering...
ABI In 17’s Now
A rapid drop in the ABI doesn’t always indicate an upcoming sub-14 signal, but such signals are typically preceded by...
Initial Take on Payrolls
11:36 a.m. ET Equities moved higher after the August payroll report landed on the softer side, locking in a September...
A.M. Update
S&P futures are up 0.35%. nasdaq leads up 0.85% after earnings from Broadcom (AVGO +14%) was a notable winner, while Lululemon Athletica (LULU...
Daily Wrap -Small Caps Join In; SOX Bear Flag Forms; ABI Dropping Fast
The stock market shook off an early-session slide, with broader-based strength amid firming rate cut expectations in the wake of...
Afternoon Update
Tomorrow morning’s Payrolls report at 8:30 a.m. is going to be highly anticipated. The days of 200k+ Payrolls seem to...
Rate Cut Expectations (-25bp) That Are Already a Certainty, Firm Amid a Broader Consolidation
1:18 p.m. ET Market activity is considerably more broad-based than yesterday, but less concentrated in heavily weighted mega cap components...
A.M. Update
S&P futures are up 0.1%. Small caps still have a slight edge up 0.25%. Alphabet’s impressive rally followed a favorable...
Daily Wrap – Two Stocks Save The Day; JOLTs Was Jolting.
Yesterday’s measured moves being met at support levels, amid 1-day oversold conditions, led to the start of a correction consolidation....
Afternoon Update
The S&P was up +0.6%, now +0.15%. Nasdaq-100 was up +1%, now +0.4%. The retracement of earlier gains doesn’t rule...