Market Update
Stocks spiked, oil slid, and gold jumped (sort of) after reports the US and Iran talks have entered a “technical...
A.M. Update
S&P futures are up 0.25% and NASDAQ futures are up 0.35% on peace deal hopes. Iran’s foreign minister, Abbas Araghchi,...
Oracle… The First Domino?
The averages started Thursday with a sharp morning decline as WTI crude oil surged above $96 and Brent crude above...
Market Update – Yields March Higher, Despite Anonymous Sources
Rising oil prices and elevated Treasury yields continue to weigh on the market as Brent surged to around $106 after...
A.M. Update
S&P futures are down -0.5%, nearly retracing the week’s gains, and Nasdaq-100 futures are down -0.9%.. Semis are weak in...
Above 5.00% is the Test: 5%: PMIs, a blown 5-year auction, and the 10-year through 5.11%. Mega caps are what’s left holding the table.
The major averages finished broadly lower on Wednesday as a breakout and sharp increase in Treasury yields, accompanied by a...
Intraday Update
Following up on the 3C part of the last update: “3C is looking a little better in couple of places...
Market Update – 10-Year yield Breakout Above 5.00%
Tuesday’s market wrap couldn’t have been more timely or appropriately titled, “5% Is the Test.” Stocks are facing pressure as...
5% Is the Test
Most of the day the question was whether stocks would follow through on Monday’s gains. Semiconductors took the lead as...
Market Update
The broader technology landscape is not as enthusiastic as yesterday. Mega Caps are flattish and mixed. Semiconductors are following-through on...
A.M. Update
S&P and Nasdaq futures are mixed, on either side of their flatline, while Dow (+0.4%) and Russell 2000 (+0.7%) futures...
Gamma at the Open, Hollow Under the Hood.
The macro backdrop of lower oil (consolidating) and lower yields (consolidating) was helpful for stocks. Index futures drifted higher as...
Bitcoin Lit the Fuse. Gamma Squeeze in Tech is doing the Rest; Stagflation Signal in Transports
I’m not buying there’s this much optimism at the SPX/NDX index level over a summit between US President Trump and...
A.M. Update
S&P futures are up +0.65% on optimism around US-China talks, lower oil prices, and falling yields. Nasdaq futures lead with...
Afternoon Update- Sleepy Op-Ex, VERY bullish Yields/Crude Consolidation
I hate to say it, but these triple or quad-witching options expirations can be some of the dullest market days....
A.M. Update
S&P futures are down -0.10%, giving up some overnight gains as yields have risen heading into a near-record ~$7 trillion...
Knee-Jerk Retraced. Higher for Longer Was Not
For 2 decades I’ve warned before every FOMC, “Beware the initial knee-jerk reaction, they’re almost always retraced.” The initial knee-jerk...
Major Market Update
I have a lot for you. Technology stocks are leading the advance with solid leadership across the AI trade and ...
A.M. Update
S&P futures are +1.25% higher with mega-cap and semiconductor stocks leading the early advance and retracing the entirety of yesterday’s...
Higher For Longer
A Hawkish Hike. The Fed’s decision to hike rates 25 basis points, to a 3.75%–4% range, was unanimous. The SEP’s...