[Powell] didn’t sound to me like he was itching to hike again. He sounds like he’s pretty comfortable where they are, sitting back, and watching things play out – Michael Feroli, Chief Economist JP Morgan (quoted in Nick Timiraos, “Fed…
I have been writing a lot about individual stocks in recent weeks but for the next few weeks macro will take center stage leading up to the Fed Decision on Wednesday March 22. As you can see in the chart…
ANOTHER BEAR MARKET RALLY: The stock market has rallied nicely the last couple of months and once again the bulls are saying the bottom is in. It isn’t. Like March and August this is another bear market rally – though…
Rising Treasury yields are cascading throughout the economy in the form of higher borrowing costs, squeezing households and businesses alike. Car loans, credit cards and corporate debt all stand to get more expensive as rates rise – “Surging Interest Rates…
Bulls pushed the NASDAQ up another 1.98% this week but the rally is on shaky footing in my opinion. Most importantly, interest rates continued to surge higher Friday with the 10 year yield adding 15 basis points to 2.49%. As…
Monday after the close I suggested that the NASDAQ’s rally off last week’s lows might be petering out due to rising interest rates and resistance at the 50 DMA. Tuesday’s 1.95% rise in the NASDAQ combined with the continued rise…
Last week’s relief rally was a face ripper. QQQ was +10.5% and ARKK +25.8% in four days (Tue-Fri). That likely caused a lot of shorts to cover and pulled a lot of longs back into the market relieving extremely oversold…
After a correction in the wake of Russia’s invasion of Ukraine, interest rates have resumed their uptrend with the 10 year treasury yield jumping 14 basis points to a 52-week high of 2.14% Monday. As I’ve discussed many times of…
With inflation raging, the monthly CPI Report has replaced the Jobs Report as the government economic number with the most impact. Let’s take a look at the state of the market heading into the February CPI Report Thursday morning at…
The stock market rallied hard Tuesday on hopes that Russia will not invade Ukraine. The S&P was +1.58%, the NASDAQ +2.53% and the Russell +2.76%. 75% of stocks on the NYSE and NASDAQ advanced on the day. Since most investors…