A.M. Update
S&P futures are down -0.65%, while Nasdaq-100 futures are down -1.3% following a reports of a strike by Micron’s labor...
The Strait Is Back. Fill the NDX Gap, Then Sell Strength.
The market has been working through the thin volume and liquidity of the summer doldrums. The trough is the upcoming...
Market Update – Finish the Gap Fill Effort, Or Not?
Escalating U.S.-Iran hostilities and higher oil prices set the tone in thinner pre-holiday conditions. Weakness is broad as the latest...
A.M. Update
Index futures are down -0.35% fairly evenly across the board as investors monitor the latest geopolitical developments amid a fairly...
Warsh Turns Hawkish, Semis Distribute, Gap-Fill Bounce Started
The session has been all over the place. An early theme is a Mega Cap-driven rally with Semiconductor weakness (which...
A.M. Update
Index futures are mixed this morning with the lot trading within 0.1% on either side of their flatlines after a...
Forecasted Bounce Starts: Tech Carries Everything, Breadth Collapses
We have the start of the forecasted move, led by the Technology sector, or more specifically, Semiconductors (SOX +2.3%) and...
Afternoon Update
First, Whatever degree of intraday relative strength in VVIX or even VIX, neither developed enough to be any kind of...
Market Update
Earnings are in the driver’s seat today. Tomorrow could see focus shift back toward macro drivers as Fed Chair Kevin...
A.M. Update
S&P futures are up +0.3%, while Nasdaq-100 futures are up +0.8% after Nvidia (NVDA) delivered another blowout quarter yesterday after...
Holding Pattern Into Nvidia
The week’s big data point, PCE dropped Wednesday before the open, coming in slightly hotter-than-expected: Headline 0.2% MoM & 3.7%...
Markets Drift On Thin Conviction with Little Equity Reaction to Hotter PCE; Oil Tests $80, Meta Settles for Up to $16.7B
PCE was a little hotter than expected. Core-PCE (Fed’s preferred gauge), as expected: PCE 0.2% MoM, Exp. 0.1% / PCE...
A.M. Update
S&P futures are down -0.15% and Nasdaq-100 down -0.4%. The indices ticked modestly lower as yields ticked modestly higher after...
Chips Stop The Bleeding & Rebound, Gaps Still in Play Ahead of Nvidia & Jackson Hole
Tuesday’s macro backdrop was favorable for equities, with oil prices and yields plunging in tandem, but it was a rather...
Afternoon Update
Not much change from the last update. I think we’re headed in the right direction. The two key averages (due...
Market Update: Slow-Going Grind
Treasury yields and oil prices continue to retreat. Quite honestly, the day is a bit more slow-going than I anticipated....
A.M. Update
S&P futures are up near +0.4% with Nasdaq-100 up +0.8% as WTI crude is down -3.25% after a New York...
Semis & AI Drag Nasdaq Lower as Bessent Scrambles on Yields, Iran, and the Debasement Trade Explodes
The Dow managed a small gain while the S&P slipped modestly and the Nasdaq dropped harder, dragged down by another...
Market Update: “Operation Economic Outcast”
The major averages are little changed following Treasury Secretary Scott Bessent’s press conference outlining the administration’s new “Operation Economic Outcast”...
Market Update
Trade talks between the U.S. and Canada broke down on Friday. The US implemented a new 50% tax on imports...