Today’s Trade Shows That My Suspicions Yesterday, Have Some Validity. ABI @ 13
1:40 p.m. ET My early take on this today’s actions mirrors Thursday’s Daily Wrap Summary, and questioning whether Thursday’s advance...
A.M. Update
S&P futures are flat, Dow futures are down -0.2% and Russell 2000 futures are down -0.35%. Macro catalysts this morning...
Daily Wrap – Jump In Jobless Claims Locks In Certainty For The 2025 Rate Path; With Caveats
Neither the CPI nor Initial Jobless Claims delivered encouraging figures, yet the market prioritized the Employment aspect of the Fed’s...
Afternoon Update
Today has definitely had a more pro-cyclical feel as 2025 rate cut expectations are pretty much set (for now) at...
Stocks Rally –Despite Hotter CPI –With Weaker Employment
That backdrop has been particularly supportive of smaller-cap stocks, with the Russell 2000, Dow Transports, and S&P MidCap 400 outperforming....
Daily Wrap – Disinflation and the Curious Case of Oracle’s Guidance
The stock market’s early strength was fueled by Oracle’s (ORCL +35.95%) massive RPO update and upside guidance (despite an earnings miss),...
Afternoon Update – ABI 14.48
The ABI is at 14.48. The S&P and Nasdaq are back below last Friday’s Payroll highs or local resistance… (5m)...
Market Update – ABI in the 14’s
1:16 p.m. ET I’ve been watching index futures this morning, a bit surprised at Nasdaq-100 futures stall out, but then...
ABI Head’s Up
While I’m going through my morning rounds in the market, I wanted to get this out there just so you...
A.M. Update
S&P futures are up 0.5%, initially gaining some momentum after Oracle’s (ORCL +32%) missed on earnings, but guided cloud infrastructure...
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...