Friends Today’s release of the PCE (personal consumption expenditures) came in about as expected showing an increase of 2.4% year over year. Excluding food and energy the number came in at a 2.8% year over year increase-also in line with expectations. This is supposedly the Fed’s favorite measure...
Friends TJX was another in a line of good earnings releases from retailers in the past week or two. Quality names like Walmart, Costco, and TJX (TJ Maxx, Home Goods and Marshalls) are killing it at the moment. But it does seem to be an environment that includes...
Friends The bulls tried to keep up the momentum but there just wasn’t enough enthusiasm to move stocks higher in today’s trading session. A pause that refreshes would not be a bad thing at this point. Yes, I know I have said for the most part conditions are good...
Friends Things were a little quieter today after yesterday’s fireworks. Nasdaq stocks took a breather while the S&P was able to inch higher. Actually, if you are a bull, today’s action is just what the doctor ordered. The market averages didn’t give back a big chunk of yesterday’s...
Friends We wondered yesterday if the earnings story from Nvidia was not only going to move the shares of Nvidia today but also stocks in general and the Nasdaq specifically. The resounding answer was yes. Shares of Nvidia soared on a blowout earnings release and the market averages followed...
Friends It was another uninspired trading session as stocks drifted in negative territory throughout the day only to slide slightly into positive territory at the close (at least the Dow and the S&P 500 did). In fairness, traders are laser focused on Nvidia’s earnings report after the close today....
Friends Despite a couple of pretty good earnings reports from Walmart and Home Depot, traders came into to this holiday shortened trading week with little enthusiasm. Market chip making darling Nvidia reports after the close tomorrow and that is likely to set the tone for the week. ...
Friends We got another hotter than expected inflation report with today’s PPI report, which measures inflation at the wholesale/producer level. As with the CPI report, stocks sold off in fear that inflation is still sticky, and the Fed will be slower to reduce interest rates this year. This...
Friends A very surprisingly weak retail sales number was just what the doctor ordered for the bulls. No, I am really serious. This week’s CPI number disrupted the narrative, but today’s weak retails sales number helped to offset the damage. Yes, bad news is good news in that...
Friends The bears were unable to build on yesterday’s selloff as stocks were able to partially recover some of the losses in a steady trading session. The inflation/interest rate narrative was disrupted yesterday when the CPI number came in hotter than expected. Not much really changed yesterday though...
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