Stocks Add To Yesterday’s Recovery

Stocks Add To Yesterday's Recovery

Friends What worries? Monday’s “pullback” seems to be a distant memory just 2 trading sessions later. Sure, some pretty darn good earnings reports from corporate America have been helpful (but no real surprise), but when bond yields stopped plunging and recovered some, the stock market responded positively. On the...

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Stocks Bounce Back

Stocks Bounce Back

Friends After an initial drop, bond yields moved higher, investors had a sigh of relief and stocks recovered a lot of yesterday’s losses. Those sinking bond yields were giving investors heartburn so when that tide turned today, market participants got a little more confident that yesterday’s stock losses were...

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Buyers Show No Interest

Buyers Show No Interest

Friends   Stocks moved lower throughout the day, but more than a selling surge it appeared to be a buyers strike. Perhaps worries over the reports of virus variants gaining strength and infection rates increasing put market participants in somewhat of a let’s wait and see mood. Earnings season...

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Good Earnings Left Unrewarded

Good Earnings Left Unrewarded

Friends   It was another day of trading with mixed results. Today the Dow was able to spend most of the day in positive territory, but the tech heavy Nasdaq was under selling pressure the entire trading session. Breadth was decidedly negative indicating once again the leadership is narrowing...

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Powell Remains Dovish, Stocks Quiet

Powell Remains Dovish, Stocks Quiet

Friends   Though Fed Chair Powell reiterated the Fed’s dovish stance testifying before the House Committee on Financial Services, stocks drifted somewhat aimlessly during today’s trading session. Only the big tech names such as Apple, Microsoft and Google have been pushing to new highs in recent days. This type...

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Earnings and CPI

Earnings and CPI

Friends   We had a trio of very good earnings reports this morning, but only one winner in terms of stock price. Both JP Morgan Chase and Goldman Sachs had excellent earnings reports but their shares moved lower as the good news appears to have been priced in already....

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Earnings Season Begins

Earnings Season Begins

Friends   As traders gear up for earnings season, stocks had a mildly bullish session with the market averages posting modest gains. As usual the first week of earnings season is filled with reports from banks including J P Morgan Chase and Goldman Sachs tomorrow, with Bank of America,...

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Inflation On

Inflation On

Friends   As per our discussion earlier in the week today was an “inflation on” day. We saw the long bond move back up nicely in yield and stocks rocket higher from the opening bell. After market participants spent the week wringing their hands over the move in the...

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Stocks Slump on Virus Fears

Stocks Slump on Virus Fears

Friends   It was a difficult day for stocks as fears of virus variants possibly putting the brakes on the great reopening sent interest rates lower as the 10 year Treasury note yield plunged below 1.30%. Stocks got off to a rocky start also with the Dow falling more...

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