Market Commentary
The economic hits keep coming.
After the open, the Dallas Fed Manufacturing report saw General Business Activity decline 22.6 percentage points this month from June. It’s the lowest level since May 2020, and it is the third consecutive monthly decline.
We also learned the Chicago Fed National Activity Diffusion Index slipped to -0.19 for the second straight quarter.
Forty four of the 85 indicators were negative, as Production and Income, along with Consumption and Spending, weighed the index lower.
This market is a coiled spring for sure, and I suspect ready to pop higher. But the ten-year yield is going to have to fill that gap at 2.90 and the come down to test 2.70 - that is where equity bulls, and even fence sitters, will become antsy.
Conversely, so many balls are in the air, I think we have to live with this angst for most of the week.
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8/15/2022 1:03 PM | Housing Recession |
8/15/2022 9:37 AM | THE BOUNCE THAT WANTS TO BE A BOOM |
8/12/2022 1:50 PM | Winning Week |
8/12/2022 9:46 AM | SHOOTING STAR SIGHTING |
8/11/2022 2:14 PM | Markets Resolving |
8/11/2022 9:40 AM | MARKET CELEBRATES CPI |
8/10/2022 1:38 PM | Market Celebrating |
8/10/2022 9:48 AM | THAT KNOT IN YOUR STOMACH IS REAL |
8/9/2022 1:43 PM | Recession Ahead? |
8/9/2022 9:19 AM | SMALL-CAPS BASK IN THE SUN |
8/8/2022 1:20 PM | Retail is Back |
8/8/2022 9:40 AM | Small Caps Flexing Muscle |
8/5/2022 1:27 PM | Musing Out Loud |
8/5/2022 9:37 AM | THE FED FEELING BLUE |
8/4/2022 2:09 PM | BINGO |
8/4/2022 9:30 AM | Fed Shows True Colors |
8/3/2022 1:49 PM | Market Took Off |
8/3/2022 9:44 AM | WARRIORS…COME OUT AND PLAY |
8/2/2022 1:19 PM | Anxiety Easing |
8/2/2022 9:36 AM | WAVES OF BAD ECONOMIC DATA CAN’T BE IGNORED…OR DENIED |
8/1/2022 1:40 PM | Contraction Continues |
8/1/2022 9:26 AM | Thanks July…Now What About August? |
7/29/2022 1:33 PM | Tipping the Scale |
7/29/2022 9:44 AM | COULD A RECESSION BE OVER BEFORE IT STARTED? |
7/28/2022 1:12 PM | Shake The Trend |
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