Friends Well, the bulls brought it strong to the finish line. The final trading day of the first half of the year saw stocks move higher across the board. It had the feel of positioning at quarter end, nevertheless the market averages had a really good day, and...
Friends Today’s final GDP revisions for the 1st quarter of 2023 showed the economy grew at 2% rather than the 1.3% that had been reported earlier. Of course, that is looking backward and gives no real insight into whether we are heading into a second half slowdown in...
Friends The bulls weren’t able to follow through on yesterday’s brief momentum. Perhaps Fed Chair Powell’s comments while being questioned on a panel full of Central Bankers took the wind out of the sails of the bulls. Basically, the Fed Chair hinted that a couple more rate hikes...
Friends More detours on the path to recession helped send stocks higher today for the first time in about a week. May durable goods data was better than expected and consumer confidence in June improved more than expected too. In addition, home prices in April were higher on...
Friends We are closing in on the end of the month, the quarter, and the first half of the year. Stocks have seemed to run out of gas as market participants appear reluctant to doing much before the quarter end. The big seven growth names were the losers...
Friends Apparently, Thursday was the outlier as stocks had a downward tilt today and the rest of the week. Things feel a bit heavy, especially in those names that have carried the water lately, and economic data, though not terrible, is certainly continuing to show signs of slowing....
Friends Stocks came back on the winning side of the ledger today (well except for the small loss in the Dow), with the Nasdaq and the big growth companies leading the way once again. Broaden out? Who needs to broaden out? Apple, Amazon, Google, Meta and Microsoft all...
Friends Stocks continue to flounder a bit after the meaty run-up in prices we have seen for much of the year and as we have mentioned, that may not be a bad thing. We are seeing the year’s high-flying leaders take a break and there are those who...
Friends It definitely feels like we are in a bit of a pause with regards to stock price action. Not so much a rash of selling as it is a lack of buyers wanting to commit more firepower at these levels. As I mentioned last week, that seems...
Friends Stocks finally took a breather today, and for the bulls that is probably a good thing. It’s better to digest gains along the way than to have stocks move higher in a straight line without any pauses. For the day, the Dow Jones Industrial Average was...
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