Dailt Wrap – AI Trade Hits a Wall—Market Retreats Over Valuation Concerns
Index futures tracked lower overnight with the catalyst being AI-related valuation concerns. Palantir Technologies (PLTR -7.95%) moved sharply lower despite...
Afternoon Update
I’m not sure we’ve reached the “consolidation” stage yet. The S&P hasn’t made a lower low… (5m) And VIX displays...
Market Update – Valuation Concerns
1:56 p.m. ET Growth (-1.4%) and Momentum (-1.35%) factors are definitely feeling the brunt of today’s selling, as compared to...
A.M. Update
S&P futures are down -1.15% and Nasdaq-100 futures down -1.55% as the recent AI rally meets some resistance following another...
Daily Wrap – Market Breadth Is Really Bad
The first day of the new month was mixed across averages and sectors, supported by narrow mega cap leadership. Like...
Afternoon Update
At the index level it’s a quiet-ish day with some relative weakness in Small Caps. The mega caps, semi, AI...
Amazon Announces $38 Billion Deal with OpenAI, Amid Weakness in the Broader Market
12:59 p.m. ET Index futures have once again faded at the U.S. cash open, like Friday morning. There’s still decent...
A.M. Update
S&P futures start the new week and month up +0.3% with five of the “magnificent seven” names trade higher in...
Quick Afternoon Update
The stock market opened higher this morning after another round of mega-cap earnings reports sent Amazon and Apple higher in...
Buying Oil (Trade)
3:17 p.m. ET I keep starting at this bull flag in WTI crude oil futures and it’s calling to me....
Commodities/PMs Review
1:14 p.m. ET I covered WTI Crude earlier. The only update since is President Trump refuted the two newspapers’ claims...
Market Update – Tech Leaders Fade Early Gains
12:35 p.m. ET The market got off to a mixed start with large cap tech-sensitive cap-weighted indices higher. The Tech...
Is Long Crude Right For You?
10:50 a.m. ET Oil is starting its breakout attempt. The Miami Herald and The Wall Street Journal, both describe an assault on...
A.M. Update
Equity futures are mixed with Nasdaq-100 (+1.3%) and S&P (+0.75%) leading following impressive Apple and Amazon earnings, and Russell 2000...
Daily Wrap
Sensing that the market overestimated Sunday’s trade developments and suspecting last night’s U.S./China trade talks might be a sell the...
Afternoon Update
Today’s tone has been mostly consolidative, presumably waiting for Apple and Amazon to report after the close. Sectors that have...
Market Update – Holding Out For Apple & Amazon Earnings
12:49 p.m. ET “Sell the news” vibes surround the Trump/Xi summit, but the real driver is unwinding this week’s mega-cap...
A.M. Update
S&P futures are down 0.45%, Nasdaq down -0.65% and Small Caps -0.7% in what I would call a sell the...
Daily Wrap – Powell Yanks the Rate-Cut Rug
The stock market had a rather eventful session ahead of the FOMC, then things got interesting. I noted yesterday, “I...
Afternoon Update
I was surprised at a lot of what I heard in Powell’s press conference. The Fed, as contentious as the...