Afternoon Note
It's been an interesting session, and so far, an impressive session. The market is trading in a narrow range. I'm very impressed that when it slipped into the red column, it turned around quickly.
A few days ago, that would have triggered waves of program trading that would have swept up a few humans as well.
Technology is the strong sector, but the list of best performing individuals names represents an eclectic array, which reflects the fact everything was oversold on near-term basis,
Interestingly, even though the Energy sector is lower, crude oil is moving higher as inventory decreased 4.5 million barrels to the lowest point since mid-2018 and below the five-year average.
It's nuts to say out loud, but judging from the stock and treasury market, it's easy to wonder if the inflation scare is being overloaded by the market.
Comments |
Yes, it is "nuts" to say out loud.....even "wackier" to think it. Look at the reality...inflation high and rising. Possibly out of control without draconian fix. Goldman calling for 4, yes, 4 hikes. Even if they are way off that means 2 or more. Wait till we see the PPI tomorrow! The stock and bond markets are in denial with their heads so far up their --- they can't see the forest for the trees. Charles Haselberger on 1/12/2022 3:22:37 PM |
I work as a machinist making valves for Audi, Ferrari, corvette and others. A few people on each shift are out with cold symptoms maybe covid . Have to stay out a certain number of days and can"t come back without a negative test. Really putting a strain on production. No one to train new employees. I'm sure other manufactuers are in the same boat. Not good for supply chain or the economy. James Duncan Grant on 1/13/2022 5:13:59 AM |
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