Afternoon Note
It’s a relatively quiet day in the market and stocks our down slightly after reaching record closing highs yesterday. While the current retail report was disappointing, consumer sentiment inched up to 90.4 from 90 in July, but is lower than the 91.9 in August 2015.
Prospects in the overall economy were favorable even though the current conditions decreased. According to the University of Michigan “weakness in personal finances was among younger households who cited higher expenses than anticipated as well as somewhat smaller expected income gains.”
In July, PPI (producer price index) declined 0.4% versus the expectation of a gain of 0.1%. And while retail sales were unchanged, if you back out autos, it was actually lower.
The latest US rig count increased by 15 to 396 according to Baker Hughes, the 7th consecutive week of increases, but is still down 276 rigs from last year’s 672. WTI is up on the day however on a weaker dollar to $44.01 a barrel and looks to be up 6% for the week.
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3/27/2024 1:40 PM | Mostly Higher |
3/27/2024 9:32 AM | U-TURN? |
3/26/2024 1:08 PM | Everything Is Up |
3/26/2024 9:42 AM | TAPPED OUT (I HOPE YOU AT LEAST GOT A T-SHIRT) |
3/25/2024 1:33 PM | Not A Mutiny |
3/25/2024 9:35 AM | STAYING THE COURSE…BEYOND TECH |
3/22/2024 12:56 PM | Toll on Americans |
3/22/2024 9:38 AM | A TAD TIRED |
3/21/2024 1:55 PM | Building on Gains |
3/21/2024 9:30 AM | A COMFORTING FED |
3/20/2024 1:33 PM | Pivotal Moment |
3/20/2024 10:00 AM | HERE COMES THE FED |
3/19/2024 1:33 PM | Picking Up Steam |
3/19/2024 9:35 AM | RUMBLINGS IN THE BOND MARKET |
3/18/2024 1:48 PM | Mag 7 is Back |
3/18/2024 9:39 AM | THE PARTY IN SAN JOSE WILL BE LIT |
3/15/2024 1:38 PM | Realtors Settle |
3/15/2024 9:33 AM | AN UNEASY PAUSE |
3/14/2024 1:43 PM | Sticky Inflation |
3/14/2024 9:48 AM | GOING TO A GO-GO |
3/13/2024 2:16 PM | Taking a Breather |
3/13/2024 9:51 AM | ALL SO EPIC |
3/12/2024 1:42 PM | Marching Higher |
3/12/2024 9:25 AM | ROTATION IN FULL SWING |
3/11/2024 1:41 PM | Sharpening Pencils |
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