Huge week for economic data – with all eyes pointing towards Friday’s labor report. Consensus estimates are calling for +200,000 job growth in Friday’s nonfarm payroll number. For the 54th... read more →
Over the past month or so, we’ve survived 3Q22 earnings season and a fairly major Fed announcement. Not small things in a year filled with volatility but both of those... read more →
Similar to last week’s CPI inflation data, this morning’s PPI inflation (producer price index) data noted similar softness. Markets like softness. Bad now equals good. PPI estimates for October were... read more →
How historic was the move in equities yesterday? The chart below shows the distribution of returns for the S&P 500 going back to 1962. The S&P 500 gain of 5.54%... read more →
This morning’s long-awaited CPI inflation data came in softer than expected and the market loves it. SP500 futures were positive +6pts heading into the 8:30am EST CPI inflation announcement –... read more →
I want to talk about market cycles and just how different and unusual the current one is. My apologies for the length of this email, but sometimes there’s no appropriate... read more →
The rarest thing of all: today we had both a total lunar eclipse (technically it was a “blood moon”) and yours truly discussing election cycles and market returns. Rare or... read more →
As of Friday, November 4th 83.5% of S&P 500 companies have reported Q3 earnings. How did the quarter go, and what have we learned? Let’s look at a few charts.... read more →
Tough to say anything other than this morning’s labor report is indicative of a continued strong labor market and a still ok economy. +260K adds to nonfarm payrolls, led by... read more →
Perhaps one way to try and digest yesterday’s Fed announcement and the subsequent Powell press conference is to quote President Harry Truman. When speaking about his own economic advisors, Truman... read more →
