TINA Years Are Through Nvidia Inc (NVDA) had terrific earnings, Federal Reserve Chairman Jerome Powell’s remarks in Jackson Hole were unremarkable, and the market yawned. Semiconductor and other AI stocks rallied early in the week, but sold off following Nvidia’s...
Positive Light Stocks and bonds fell for the week as a combination of strong U.S. economic data and challenges in China unnerved the financial markets. The healthy domestic economic data drove interest rates higher, though bond prices stabilized on Friday. The...
A Day Late & a Dollar Short The financial markets were in a “blue Moody” with stocks suffering early in the week following the rating agency’s downgrade on 10 regional banks, and bond prices slumping on Friday in response to a stronger-than-expected...
Wild Ride It was a volatile week that finished with equity market index losses after Fitch downgraded its U.S. credit rating below the top AAA level; this launched U.S. Treasury yields on a wild ride that somewhat ironically narrowed the 10-year versus 2-year...
Monetary Policy and Midpoints The stock market continued to move higher, fueled by economic data that clearly contradicted the doomsday narrative promoted by the inflation and recession fear mongers. The Fed still raised interest rates by another 25 basis points on...
Unchanged and Uninspired There was certainly a lack of consistent direction and movement magnitude across major indices last week. The indexes certainly had mixed results, with the Nasdaq Composite shedding -0.6%, the S&P 500 rising 0.7%, and the Russell 2000...
Inflation Cooling, Earnings Warming, and Sentiment Heating Up There are hundreds of songs that relate life’s “ups and downs” to the weather. Our favorites cover the spectrum from Bob Dylan’s “Hurricane” to the Allman Brothers Band’s “Blue Skies”. Similarly, the...
Fireworks and Fed Chirps Unlike Joey Chestnut’s win (he consumed 62 hot dogs en route to his 16th Nathan’s Famous competition win on Fourth of July), the stock market posted a modest loss during the holiday-shortened trading week, as traders digested conflicting...
Which Camp? The stock market had a strong finish in its final trading week of the first half of the year, with gains of 2.4%, 2.3%, and 3.7% for the S&P 500, Nasdaq Composite, and Russell 2000 respectively. While the Tech sector remained strong, with Apple Inc...
Stalled Out The stock market rally stalled during holiday shortened trading, as the indices suffered their worst weekly losses since the collapse of the Silicon Valley Bank in March. Further evidence of a slowing economy combined with the continuous “further...