Last Week As the number of 2Q24 earnings reports picked up last week, the financial markets seemed keenly aware that “Twisters,” the sequel to the 1996 cult-classic tornado-chasers “Twister,” debuted last week, as the recent rotation out of technology stocks continued...
Last Week It’s been a long and winding road to the place where small caps and other non-magnificent stocks found the answer to the “when will I be loved” refrain. If last Thursday’s market action is any indicator, perhaps that love has finally blossomed. Remarks from...
Last Week Meet the new boss. Same as the old boss. The S&P 500 kicked off the second half of 2024 with its best weekly performance in 8 weeks. Once again, however, the rally was driven by the same boss, Mr. Big Tech (not Bruce Springsteen). The S&P jumped...
Last Week It was primarily a sidewise stock market, despite a positive read on the global economy from FedEx Corp (FDX) and a benign inflation report, with the PCE registering a +2.6% year-over-year increase. That inflation reading was in line with expectations,...
Last Week Trading volume was extremely heavy thanks to Friday’s “triple witching,” with a massive $5.5 trillion of options expiring. Additional activity was driven by the annual index rebalancing, in which increased weightings reward the top-performing stocks from the...
Last Week The songs remained the same, with mega-cap momentum stocks blasting another round of “We Are the Champions,” while the small and mid-caps lamented in “When Will I Be Loved.” The dissonance between the economic data and the FOMC statement was as deafening as...
Last Week Over the decades many championship basketball teams have been built on a “Big 3” superstars foundation. As Chicago sports fans we would highlight Jordan, Pippen, and Rodman, of the 95-98 Bulls as a prime example although there have been other (less lovable)...
Last Week Following the pattern from the previous week, gains in a narrow band of mega-cap momentum stocks masked underlying weakness in the broader market on Tuesday to kick off the holiday-shortened trading week. The mood worsened on Wednesday as hawkish Fedspeak...
Last Week On the surface, the stock market rally continued with the S&P 500 fractionally higher to cap on a five-week win streak, its longest such run since early February. However, peeling back the onion skin reveals weakness across all equities industry sectors...
Last Week Traders on the NYSE floor could don their Dow 40,000 hats as Wall Street enjoyed another record-breaking week. The most significant market-moving news came on Wednesday with the release of the consumer price index for April. The data showed an increase at a...