The S&P 500 is currently down roughly 16% so far this year, which would make 2022 its worst calendar year since the Great Financial Crisis (GFC), and would also fall... read more →
A better-than-expected jobs report this morning is sadly not what the market was/is looking for. Tough to describe this labor report as anything other than “tight”. +240k jobs after revisions... read more →
Yesterday’s reaction to dovish comments from Fed chair Powell was most certainly welcomed by the markets. Big positive moves in risk assets and lower yields across the board. This wasn’t... read more →
The 200-day moving average (ma) is no silver bullet; but as we reflect on price movement over the last few months it does provide us with pieces to the puzzle.... read more →
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 →