Higher Rates Again Weighting on Stocks
January 18, 2022 Good morning, We had a pretty quiet 3-day weekend market-wise. Omicron appears to be peaking in a number of locals (including NYC), however that seems to be of no concern to the market. What has its attention this morning is rising rates, and the now 2wk old consolidation looks to continue as […]
Focus On The Data, Not The Digits
January 14, 2022 Good morning, The choppy (volatile) consolidation, led by technology, that began last week looks like it will march on right through the end of this week too. The only difference this week is that selling has broadened out – the Russell 2000 is leading indexes down so far this week for example. […]
That’s Volatility
January 12, 2022 Good morning, Terror was palpable in the markets Monday morning as the Nasdaq Index (tech) plummeted again, and cracked the -10% level (from its high) intraday. Traders openly wondered if there would ever be a bid for a tech stock again. Yesterday, for whatever reason, investors reacted to Chair Powell’s comments as […]
One Word
January 10, 2022 Good morning, The first week of the year, following what I thought was a surprising Santa Rally, is best described in one word: consolidation. The S&P 500 was off only -1.87% on the week, but growth bore the brunt of it, with the NASDAQ down -4.52% comparatively. Tech (growth) is the largest […]
More Fear?
January 7, 2022 Good morning, The December employment numbers were released at 8:30 am ET this morning to mixed results. The headline number was well short of expectations with only a 200,000 increase in payrolls vs 450,000 expected. Not a good headline for the economy, but beneath it the numbers exceeded expectations with the unemployment […]
NOT Fear Mongering – Just Prepping
January 5, 2022 Good morning, It’s a Fed day of sorts, the minutes of the last FOMC gathering – the one where they doubled the pace of taper and released a new dot plot – are set for release this afternoon. Worth noting, rates have recently jumped up – the 10yr UST yield is up […]
Consensus
January 3, 2022 Good morning, HNY everyone, I hope you all had a wonderful holiday. Surely, the equity markets did. Officially the Santa Rally includes the first two trading days of the new year, and true to form, Futures are up +0.5% this morning ahead of a jammed pack week of economic data culminating with […]