Morning Commentary
The 10-year note jumped back, nearing its high level for the year. The yield has not closed above 1.60% since February 13, 2020. If it does today, it may confirm a new normal for interest rates. This has added pressure to high-growth tech stocks, as it reduces the value of future profits.
The NASDAQ’s downtrend has broken and now it will be tested. If it holds, that is the buy signal.
Portfolio Approach
We took profits on two names yesterday. We are adding a new position in Financials to our Hotline Model Portfolio this morning.
Today’s Session
US producer prices soared 0.5%; consensus 0.4%. The index increased 2.8% y/y surpassing consensus of 2.6%. This represents the largest increase year-to-year since October 2018.
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We'll watch and learn Lorin K on 3/12/2021 11:15:16 AM |
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4/23/2024 7:42 AM | WHAT HAPPENED TO THE BRAVADO? |
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4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
4/16/2024 1:35 PM | Muted |
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4/15/2024 1:17 PM | Making a Statement |
4/15/2024 9:45 AM | Equal Opportunity Drubbing |
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4/12/2024 9:42 AM | WHO YA GONNA CALL? |
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4/10/2024 1:22 PM | Hang In There |
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4/9/2024 1:56 PM | Fighting the Trend |
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4/8/2024 9:45 PM | Cautious Feel |
4/8/2024 7:19 AM | IT’S ECLIPSE DAY |
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