Investment House Weekend Wrap Up Archive
Weekender for 3/3/2024
1. Market Summary Personal Consumption Expenditures (PCE) tamer year/year, incomes higher, stocks respond upside Solid, albeit unspectacular moves higher The game: headlines are palatable to algorithms, but the data beneath are anything but positive PCE actually shows inflation rebounding, incomes are inflated by establishment jobs numbers, spending flags even with supposed stronger wage growth Even […]
Weekender for 2/25/2024
1. Market Summary As everyone expected, stocks gap higher on the NVIDIA (NVDA) results, led by techs, chips New highs for the usual suspects as small-caps bring up the rear Initial jobless claims laughable given the thousands upon thousands of layoffs Existing home sales lack volume as owners are locked in by high rates Commercial […]
Weekender for 2/18/2024
1. Market Summary Third rally leg continues despite weaker data, sentiment calling the move overdone Technical action overrules data Initial claims, of course, fade, but regional Purchasing Managers Indexes (PMIs) continue their weak performance, industrial production/utilization fall, retail sales show the typical first of year weakness Commercial real estate (CRE) is no real worry to […]
Weekender for 2/11/2024
1. Market Summary Indices close higher again with small-caps and mid-caps outperforming Even with the small-caps leading, breadth remains weak Jobless claims fall even as layoffs surge Supply issues impact chocolate Supreme Court hears 14th amendment argument Steady rise on the week, not huge, likely not as much pressure to take profits ahead of the […]
Weekender for 2/4/2024
1. Market Summary Market pulls the opposite day, trading the opposite of the post-Federal Open Market Committee (FOMC) selling Solid upside, but the moves were smaller, volume lighter than the stock dumping on Wednesday Regional bank deposit flight reboots and investors start thinking interest rate cuts on the heels of Chairman Powell saying it won’t […]
Weekender for 1/28/2024
1. Market Summary Different session, different focus: tech takes a back seat Buyers and sellers fight again with large intraday swings as this upside leg gets a bit extended The market’s narrow group of leaders a bit overbought, plenty of stocks are not, but they have yet to make moves Q4 gross domestic product (GDP) […]
Weekender for 1/21/2024
1. Market Summary The rebound setup received a trigger with some better corporate data as interest rate cut disappointment shelved for a session Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) helps spark the chips back upside, Nasdaq mega-caps bounce from good setups Housing starts drop, Philly Fed contracts a fifth month S&P reports an 80% increase […]
Weekender for 1/14/2024
1. Market Summary Consumer Price Index (CPI) hotter overall, cooler Core, but key areas return to rising as food hits record highs. All is well. Citi warns the day before earnings the Venezuelan peso may cause Citi to miss its results. Indices sell, but post strong afternoon recoveries. Positioning not changed, but the intraday action […]
Weekender for 1/7/2024
1. Market Summary Day three for 2024 and all the indices were down, but DJ30 As the first three days of January go, so goes … the January effect? Losses are not nearly as bad as Wednesday, but with the early gains and reversals, it was worse than it looked. Market in need of leadership. […]
Weekender for 12/31
1. Market Summary Santa rally tepid, reminiscent of the lack of Christmas spirit in “Elf.” Data still tepid overall, the seven-year auction was poor, but hey, the Fed Bank Term Funding Program (BTFP) arbitrage usage continues — great for banks, but how about everyone else? Most leading areas are in pause mode after a seriously […]
