Cause For More Pause?
November 19, 2021 Good morning, Concerns around the fourth wave of Covid dragged down overnight markets as European lockdown headlines cast a pall over Friday’s trading on exchanges overseas. U.S. Futures are only off -0.15% but it’s a Covid day in terms of the market’s focus. Markets are right to be worried about Covid’s spread […]
More Short & Sweet
November 17, 2021 Good morning, The “pause” periods for the equity market are often frustrating to me personally – there just isn’t that much to write about. Futures overnight were steady as fears of inflation and Europe’s fourth virus wave were said to be simmering under the surface (Bloomberg). With little else to write about, […]
Brief One
November 15, 2021 Good morning, Futures are up this morning (.40%) after most equity indexes snapped their weekly winning streak last week – the S&P 500 was off -.27% on the week. Earnings season largely wraps up this week. Companies that have reported earnings so far have broadly beaten expectations which has been supportive to […]
Proud
November 12, 2021 Good morning, The market feels tired this Friday morning – but maybe that’s me, because I’m exhausted. RS-NYC hosted our first 2-day offsite partners meeting that ran late into last night. I must say, as the longest standing member (Q3-2013) of the organization, it was with great perspective that I could appreciate […]
Time to Pause?
November 10, 2021 Good morning, Finally! The market’s fairly impressive winning streak was broken yesterday. Risk managers all around blew a collective sigh of relief – winning streaks are ulcerating to them as overbought sirens blare. The break yesterday was quite pedestrian and may be the start of a few days of pause – remember, […]
On Average
November 8, 2021 Good morning, Last week was the 5th straight week of gains for the S&P 500 and it was the 3rd straight week of gains for the big three U.S. equity indexes – the S&P, Nasdaq and Russell 2000. That said, there were two even more notable mentions from last week’s action. While […]
Pass the Sedatives
November 5, 2021 Good morning, Happy Friday and welcome to payrolls day – October payrolls increased by 531k vs 450 expected. With favorable revisions to back months, today’s data could only be interpreted as strong and a comfortable beat. The market focus from taper to rate rise makes the underlying wage data more important than […]
Anticlimactic and the Monthly Note
November 3, 2021 Good morning, It’s Fed Day, <umm> Taper Day is the better moniker, and it’s finally here. There seems to be little doubt in the market that the Fed will announce a monthly taper of $15billion ($10 Treasuries / $5 MBS) beginning mid-month. What is less clear is when the Fed will actually […]
No Respect
November 1, 2021 Good morning, Welcome to November and the beginning of the two historically strongest performance months of the year – although this bull market seems to pay no homage to history. Markets overnight are acting like its still October with stocks surging and short-term yields rising. As you know, October ripped up the […]
Big Bonus Day
October 29, 2021 Good morning, Following a +1% day on the S&P 500 index yesterday and recording just another in a now long list of new all-time highs this year, it looks like today may be shaping up to be an eventful one. With yesterday’s post-close disappointments from Apple and Amazon (the mega of the […]
Likely Pause That Refreshes
October 27, 2021 Good morning, Futures have been just a little soft overnight, vacillating between down a tick and unchanged, ahead of earnings results from more of the biggest U.S. companies not officially considered big-tech (although every big company in the world is heavily laden with tech – hence the reason “tech” will likely lead […]
Time For Beast Mode
October 25, 2021 Good morning, Welcome to big tech week. Earnings reports from the major technology companies come out this week; FB-Mon / MSFT, TWTR, GOOG-Tue / AAPL, AMZN-Thu. Hard to see how the supply chain logjam won’t throw a cold blanket on their earnings reports, but there’s no insight there, everyone knows that. The […]