Afternoon Note
Markets are “meh” on today’s jobs numbers as investors expect the Fed to be careful with its next move. The 10-year yield is inching higher as wage gains and the unemployment rate already met the Fed’s year-end projection.
Energy continues to outperform with crude oil topping $80, the first time since 2014. Oil is poised for its seventh straight weekly gain as demand rebounds while supply remains tight.
S&P 500 Index |
|
-0.26% |
Communication Services XLC |
|
-0.10% |
Consumer Discretionary XLY |
|
-0.33% |
Consumer Staples XLP |
|
-0.04% |
Energy XLE |
+2.58% |
|
Financials XLF |
+0.44% |
|
Health Care XLV |
|
-0.47% |
Industrials XLI |
|
-0.20% |
Materials XLB |
|
-0.55% |
Real Estate XLRE |
|
-0.51% |
Technology XLK |
|
-0.28% |
Utilities XLU |
|
-0.34% |
Stop Blaming Wages
Wages are soaring in Leisure & Hospitality, an industry still struggling to recover. This is certainly crushing small restaurant owners in particular.
Markets are at the lows of the session.
Have a great weekend. Stay safe.
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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 |
4/8/2024 7:19 AM | IT’S ECLIPSE DAY |
4/5/2024 1:51 PM | Higher and Cheaper |
4/5/2024 9:23 AM | MARKETS REEL ON BIDEN’S ISRAEL ULTIMATUM |
4/4/2024 1:42 PM | Stocks Bounce |
4/4/2024 9:31 AM | ESCAPING GRAVITY = ESCAPING REALITY? |
4/3/2024 1:41 PM | Cuts Not Soon |
4/3/2024 9:33 AM | A LITTLE LESS SWAGGER |
4/2/2024 1:16 PM | Under Pressure |
4/2/2024 9:49 AM | HIGHER PRICES & JOBS LOSS – “NO” ON FED BINGO CARD |
4/1/2024 10:00 AM | OF COURSE, HE CAN WAIT…THE DATA STILL NOT ADDING UP |
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