Afternoon Note
Today marks the 737th turnaround Tuesday since 1990. Stocks are bouncing nicely, getting an extra boost from the ISM Service numbers, which came in much better-than-expected. It’s a reminder that the underlying economy remains resilient.
By the same token, we are also reminded of pricing pressure and the workers’ strike continues to slow full recovery.
ISM Non-Manufacturing
In fact, among those items mentioned in short supply includes truck drivers.
Commodities in Short Supply Adhesives; Blood Collection Tubes; Chicken; Computer Equipment (2); Construction Contractors; Construction Subcontractors (2); COVID-19 Testing Kits; Drivers; Electrical Components; Fiber-Optic Cable (3); Generators; Heating, Ventilation and Air Conditioning (HVAC) Equipment; Labor (2); Labor — Temporary (9); Laptops and Desktop Computers (2); Media Supplies; Microchips (2); Needles and Syringes (2); Ocean Freight Containers; Pipette (7); Polypropylene; Resin-Based Products (2); Steel Products; Surgical Gloves; and Truck Drivers.
Note: The number of consecutive months the commodity is listed is indicated after each item. |
I think you have to hold your positions and prepare for a strong year-end rally.
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4/24/2024 1:30 PM | Earnings Flood In |
4/24/2024 9:26 AM | BUYING THE DIP |
4/23/2024 1:25 PM | Bloom Off Rose |
4/23/2024 9:32 AM | WHAT HAPPENED TO THE BRAVADO? |
4/22/2024 1:22 PM | Pins and Needles |
4/22/2024 9:30 AM | LIVE BY THE SWORD … |
4/19/2024 1:20 PM | Fair Chunk of Rotation |
4/19/2024 9:35 AM | DON’T OVERREACT |
4/18/2024 1:37 PM | Didn’t Break Down |
4/18/2024 9:40 AM | MARKET OFF SCRIPT |
4/17/2024 1:59 PM | Facing Pressure |
4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
4/16/2024 1:35 PM | Muted |
4/16/2024 9:42 AM | FEAR ARRIVES |
4/15/2024 1:17 PM | Making a Statement |
4/15/2024 9:45 AM | Equal Opportunity Drubbing |
4/12/2024 1:37 PM | Pressure Overall |
4/12/2024 9:42 AM | WHO YA GONNA CALL? |
4/11/2024 1:38 PM | No Urgency |
4/11/2024 9:27 AM | Tough Sledding |
4/10/2024 1:22 PM | Hang In There |
4/10/2024 9:51 AM | HERE COMES THE LATEST RATIONALE FOR PERSISTENT INFLATION |
4/9/2024 1:56 PM | Fighting the Trend |
4/9/2024 9:46 AM | NEXT TIME, MAKE IT A HOLIDAY |
4/8/2024 9:45 PM | Cautious Feel |
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