Afternoon Note
Earnings have come to the rescue, helping the market bounce back from that nasty sideswipe from the Biden administration trying to test the attitude for the world's highest capital gains tax. The PG-version of Wall Street's answer was "no thanks."
So, now back to the business of fundamentals, as lots of hyped niches of the market continue to come down including crypto which is getting slammed. I am opening a CoinDesk account soon and will let you know when I buy - only as a curiosity as I cannot tell anyone to buy or sell.
I am loving the action in good old-fashioned blue-chip names. We have been overweight and it’s paying off.
The market also reacting to strong economic data.
The IHIS Markit US Manufacturing PMI in April rose to 60.6, up from 59.1 in March, topping estimates of 60.5.
There was record highs in in manufacturing and services activity. However, a lack of raw materials led to a decrease in production capacity. Delays in ports, coupled to supply chain disruptions added to capacity issues. The good news is that the backlog increased substantially.
I would only quibble with volume - still concerned it is too low.
Market Breadth |
NYSE |
NASDAQ |
Advancing |
2,541 |
2,899 |
Declining |
692 |
1,102 |
52 Week High |
205 |
93 |
52 Week Low |
8 |
22 |
Up Volume |
1.32B |
1.76B |
Down Volume |
284.93M |
368.04M |
One thing to remember is new highs beget new highs.
Tweet |
7/8/2025 1:33 PM | Seesaw Session |
7/8/2025 9:55 AM | MORE SUMMER BLAHS THAN FEAR OF MYANMAR'S TARIFF |
7/7/2025 1:27 PM | Trade Talks and Profit Taking |
7/7/2025 9:51 AM | LOVING MOOD |
7/3/2025 9:45 AM | NICE & STEADY AS SEMIS CONTINUE TO CHIP IN |
7/2/2025 1:44 PM | Materials' Strength Continues |
7/2/2025 9:38 AM | BARNBURNER |
7/1/2025 1:29 PM | Rotation |
7/1/2025 9:45 AM | FEAR OF MISSING OUT IS CREEPING IN |
6/30/2025 1:24 PM | Steady As She Goes |
6/30/2025 9:54 AM | SUMMER RALLY STARTS |
6/27/2025 1:35 PM | Reaching New Heights |
6/27/2025 9:39 AM | THERE'S MORE! |
6/26/2025 1:10 PM | S&P Approaches Record |
6/26/2025 9:51 AM | CHIPS MOMENTUM CONTINUES |
6/25/2025 1:42 PM | Tech Stocks Power Nasdaq 100 |
6/25/2025 9:47 AM | CLIMBING MOUNTAINS OF WORRY |
6/24/2025 1:47 PM | Peace Rally |
6/24/2025 9:48 AM | PEACE THROUGH STRENGTH: THE MARKET LOVES IT |
6/23/2025 1:47 PM | Getting Some Resolve |
6/23/2025 9:51 AM | BRACING |
6/20/2025 1:29 PM | Second Triple Witching |
6/20/2025 9:38 AM | POWELL BLEW IT |
6/18/2025 12:41 PM | FED Day |
6/18/2025 9:45 AM | ROOM WITH A VIEW |
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