Friends As we appear to be headed for a government shutdown, stocks actually rallied into the close to finish out the quarter on a high note. As for the government shutdown, we’ve obviously been down this road before. In the past the effects on the stock market have been...
Friends The bulls are trying to mount a charge into quarter end. Stocks moved up modestly in today’s trading session as Nvidia helped Nasdaq lead the way. As we’ve mentioned, stocks aren’t cheap, but the bears just haven’t been able to mount a defense to higher share prices. As...
Friends This morning’s release of a key inflation data point helped add some fuel to the market averages. August’s PCE Price Index showed that core inflation rose 2.9%. This measure excludes food and energy. In all the annual rate was 2.7% which was in line with expectations. All of...
Friends Stocks drifted lower for the 3rd trading session in a row. Again, at this point the pullback is nothing unusual or dramatic, but it is notable in that it’s been a while since we’ve seen anything but higher stock prices. Stretched valuations have entered the narrative this week, something...
Friends, Stocks have hit a bit of a headwind as we wind our way into quarter end, with AI names finally running out of steam. We’ve have seen these brief pauses in the past couple of years with regards to the high flying tech/AI names, but a move to...
Friends Stocks continued higher as the bulls appear very comfortable at the moment as they find themselves firmly entrenched on the high ground. The 10-year Treasury Note has pushed a little higher in yield since Wednesday’s Fed Funds rate cut, which we suspected it might do. But overall the...
Friends So far, it appears the “don’t fight the Fed” narrative is winning as the bulls pushed the market averages to new highs. Despite the uncertainty of when and how much, it is almost certain that the Fed will be lowering rates again in the near future, and that...
Friends As expected the Federal Reserve lowered the Fed Funds rate one quarter of a point. The new range is 4.00 to 4.25%. The Fed Chair indicated that the risk has shifted to the weakening labor market, but made it clear that there is no risk free path forward....
Friends Stocks eased higher today as market participants braced for a very important Fed meeting this week. On Wednesday afternoon we’ll get the statement on the policy decision and then Chair Powell’s press conference. Word that trade talks with China have been encouraging also gave support to higher prices...
Friends Investors were cautious as the trading week came to a close as they braced for next week’s FOMC meeting, and the likelihood that the Fed is likely to begin to lower rates again. The question remains whether that is already priced into stocks. We will see. As for...
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