Comments: The SP-500 (SPY) logged its 5th consecutive day and 4th consecutive week of new record highs. To state that equity markets are overbought would be an understatement. However, the recurring pattern in this market has been one of consolidation followed by breakouts, which represents a textbook confirmation of a bull market and should be respected by […]
By J Clinton Hill, Capital Markets Strategist @ Hillbent.com ETF Market Commentary We now have a bifurcated stock market to complement our politically divided nation. How appropriate! The Nasdaq-100 (QQQ), SP-500 (SPY) and Russell 2000 (IWM) are failing to maintain key short-term support levels and making new lows. Each index represents a broad spectrum of […]
By J Clinton Hill, Capital Markets Strategist @ Hillbent.com ETF Market Commentary Today’s economic backdrop of a stronger than expected Retail Sales report in October-2016 gives a data dependent Fed more justification to raise rates. This sentiment is currently being expressed by the Fed Futures contract which assigns a 91% chance of such occurring. In spite […]
By J Clinton Hill, Capital Markets Strategist @ Hillbent.com Market Condition: August 26, 2016 In the first hour of trading, stocks advanced on Fed Chair Janet Yellen’s suggestion of “gradual” rate increases. However, Stanley Fischer, Fed Vice Chairman, expressed things quite differently by reiterating the possibility of a rate hike in September. With not much […]
By J Clinton Hill, Capital Markets Strategist @ Hillbent.com Market Condition: August 25, 2016 Overall, today’s data releases underscored the strength of the US economy. Tomorrow, which is Friday, Yellen will speak after concluding the Fed’s meeting at Jackson Hole. Investors from all asset classes will be taking cues from her remarks. Despite recent hawkish overtures […]
Here is the June-2016 calendar of key market moving events you will want to monitor. Some of the events greatly impacting the market will be updates from the major central banks, i.e. FOMC, ECB, BOJ, and BOE. However, the biggest event on this month’s calendar will probably be Britain’s referendum, aka Brexit vote, on the […]
The USD/JPY is converging on its 50-day moving average, which is currently at 110.25. Earlier today, it faded resistance @ 109.64 and two days prior to that, it advanced to as high as 109.55 before pulling back to as low as 108.46. In a previous post, I noted that @ 109.55 was a key intraday […]
Stock and Bond Bulls Telling Yellen To “Bring It” In spite of the weak ISM Manufacturing November-2015 (actual @ 48.6 vs. consensus @ 50.5 and prior @ 50.1), the market responded with a robust rally. Regarding December’s impending rate hike, it’s almost as if stock market bulls are telling Fed Chairperson Yellen to “bring it”. […]
All Quiet On The Equity Front Retailers, Home Depot (HD) and Walmart (WMT), reported solid earnings. However, this positive news for the retail sector was more or less offset by today’s inflation data which probably gives the Fed further justification for a rate hike. Outside of this, there were no other market moving data releases.
Deflated Expectations Transfer to Stock Prices I suppose I could begin today’s commentary with some reference to Friday the 13th, but that would be too cliché . So let’s look underneath the hood instead and try to determine what’s really going on. Believe it or not, the economic data was not that terribly bad.
Commentary and Performance End of the week converging with end of the month is an appropriate recipe for caution, especially when the market delivers one of its best monthly performances in quite some time. October bears appear to have already visited in September and August and hibernated early in October. Combine the above with the […]
Stock Market Commentary Regarding economic data, the Jobless Claims report, while slightly higher, continues to show signs of improvement. Inflation also remains benign as Import-Export Prices are relatively flat on a monthly basis and barely increasing year-over-year. European GDP reports from France and Germany, the region’s two largest economies indicate unresolved economic weakness, but the […]