Sometimes the best surprise is no surprise at all, but the Bank of Japan thought otherwise. It pitched the market a curve ball last night when it decided not to increase its QE stimulus program and leave rates unchanged. Instead, it decided give the negative interest rate policy it implemented in January more time […]
An Exhausted Market… It’s becoming harder to find a scapegoat for the market’s decline. Stocks have suffered four out of six losing sessions and three consecutive down days. There were no important economic data releases today. This market is falling due to its own exhaustion.
No Real Moves With No Real Data To Guide Don’t anticipate any real moves in this market until we get beyond this week’s release of central bank policy announcements, OPEC’s bi-annual meeting and the U.S. non-farm payrolls report. When the market doesn’t know what to do, one can usually rely on the VIX, our fear […]
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.
Commentary and Performance Summary Due to a conflict schedule, there will be no comments this evening. The SP-500 has now closed down 5 out of the last 6 trading sessions @ 2075.00 (-6.71 / -0.32%). The Nasdaq-100 finished the day @ 4636.94 (-4.79 / -0.10%) and the Rusell-2000 ended @ 1178.07 (-9.63 / -0.81%).
Another Quiet Day It was another quiet day in the market. There will be no comments this evening. Below is our performance summary and market diary data. The SP-500 closed @ 2081.71 (+3.13 / +0.15%). The Nasdaq-100, weighed down by Apple Inc (AAPL) lagged @ 4641.73 (-13.79 / -0.30%) while the Rusell-2000 held @ 1187.70 (+3.27 / +0.28%).
A Second Look In the Mirror? Without much data to move the markets, investors took a second look in the rear view mirror and fixated on the implications of last week’s strong employment numbers. At least that appears to be the case for now. In addition to this, China’s latest trade balance report shows it […]
Commentary and Performance Even though there was not much data to sway the markets, price action among the various asset classes was most noteworthy. For example, the long bond finally grabbed the 3-handle to send treasury rates back above 3%. Another oddity was the performance of the VIX, which easily outperformed equities despite their positive […]
Bulls and Bears Stand Down For The Week It was the final week of trading to close out October, which is typically a scary month for investors. However, no blood was shed unless you got caught short in what turned out to be one of the best investment performance months in stock market history. (See […]
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 […]
Commentary and Performance Today’s trading was most definitely data dependent and this one was solely dependent upon the Federal Reserve’s latest announcement to leave interest rates unchanged. The SP-500 made a new 1-month high and closed @ 2090.35 (+24.46 / +1.18%). The Nasdaq-100 also hit a new 1-month high and finished @ 4678.58 (+39.35 / +0.85%). Stealing the […]
Commentary and Performance Today’s positive economic data out of the USA and Europe combined with central banks’ global coordination to “stimuflate” their economies gave stocks another boost. The SP-500 closed @ 2017.15 (+22.64 / +1.10%) and the Nasdaq-100 settled @ 4624.09 (+120.87 / +2.68%). Small caps continue to struggle with clearing key resistance levels despite […]
Commentary and Performance The major stock indexes clearly show a bias towards large caps as small-caps continue to lag the market in performance. The Russell-2000 closed @ 1162.31 (-0.46 / -0.04%) while the SP-500 finished the day @ 2033.11 (+9.25 / +0.46%) and the Nasdaq-100 @ 4438.62 (+20.40 / +0.46%).