Archive for category: Market Commentary

Stocks Touch New Highs

Stocks Touch New Highs

Friends Market participants slept on it last night and decided that FOMC statement and Chair Powell’s comments yesterday were dovish enough to stir “don’t fight the fed” sentiments. Remember, the Fed would not embark on a round of interest rate cuts if everything was wonderful. Rate cuts occur to...

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Bullish Anticipation

Bullish Anticipation

Friends Nothing like jumping the gun. Stocks rallied mightily today on hopes that the Fed is going to begin to cut interest rates as soon as tomorrow, and on a tweet from the President that he had spoken to Chinese President Xi. Add in departing ECB head Draghi’s dovish...

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Fed Week-Hold on Tight

Fed Week-Hold on Tight

Friends It’s Fed week. The Fed’s Federal Open Market Committee (FOMC) meets tomorrow and Wednesday to decide what direction monetary policy will go, and market participants are watching and waiting intently. The narrative is that stocks have rallied in recent weeks in anticipation that the Fed is going to...

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End To A Quiet Week

End To A Quiet Week

Friends Today’s retail sales number, ex-autos, was actually pretty good- and better than expected. Regardless, stocks simply had another very quiet day with just a little bit of volatility. By the close, the Dow Jones Industrial Average was down 17 points to finish the day at 26,089. The S&P...

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Quiet Downside

Quiet Downside

Friends It was another quiet day for stocks with a slight bias to the downside. The Producer Price Index came in as expected and combined with the CPI, the inflation picture continues to be muted. With that the market’s odds that we see a Fed rate cut in July...

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Winning Streak Snapped

Winning Streak Snapped

Friends   After an early morning lift, stocks finally ran into some selling pressure/profit taking. After the powerful rise in share prices over the past 6 trading sessions, it is almost comforting to see the brakes applied- at least for the moment. There was no real catalyst for stocks...

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The Bounce Rally Continues

The Bounce Rally Continues

Friends A “deal” with Mexico late Friday set the stage for a rally this morning, and Nasdaq led the way. After about a 7% correction in May, the bulls have gotten their mojo back here in June and stocks are within shouting distance of all-time highs once again. By...

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