Afternoon Note
S&P Global PMIs were not pretty today and underscores the story that tech is not the only one hurting. U.S. PMI showed further weakness at 44.6 from the 46.4 prior read and missing consensus of 46.9. Downturn is business activity was the sharpest since May 2020.
There is a sea of red this afternoon and nowhere to hide. All sectors are in red with safe-havens Real Estate and Utilities leading the downturn, while Communication Service is the best of the weak hand.
We could implode into the close. This is the wash out, which is in part from the S&P and Nasdaq quarterly rebalance (meaning winners get sold and losers get bought). We are holding on to quality names. Take lumps and be ready to get it back, but smartly, not loading up in out-of-the money options that expire in 24 hours.
Tweet |
5/12/2025 1:22 PM | Strong Gains |
5/12/2025 9:47 AM | MAJOR PROGRESS WITH CHINA |
5/9/2025 1:15 PM | Friday Fluctuations |
5/9/2025 9:25 AM | SO MUCH EXCITEMENT |
5/8/2025 1:49 PM | First Trade Deal |
5/8/2025 9:37 AM | POWELL SEES NOTHING |
5/7/2025 12:53 PM | Powell Under Pressure |
5/7/2025 9:48 AM | THE LUXURY OF BEING GREEDY |
5/6/2025 1:20 PM | Anxiety Continues |
5/6/2025 9:45 AM | ANXIETY RETURNS |
5/5/2025 1:18 PM | Market Consolidating |
5/5/2025 9:41 AM | MID-CAP MUSCLE |
5/2/2025 1:19 PM | Labor Market Resilience |
5/2/2025 9:57 AM | BACK TO THE STARTING LINE |
5/1/2025 1:31 PM | Big Tech Resilience |
5/1/2025 9:52 AM | MAMA SAID |
4/30/2025 1:35 PM | Midday Recovery |
4/30/2025 9:52 AM | BIG HITTERS ON DECK |
4/29/2025 1:49 PM | Fluctuating |
4/29/2025 9:48 AM | BUY SIGNALS & RECESSION TALK |
4/28/2025 1:22 PM | Earnings Angst |
4/28/2025 10:03 AM | BIG TEST |
4/25/2025 1:16 PM | Quiet Friday |
4/25/2025 9:57 AM | HYSTERIA TO HOPE |
4/24/2025 1:12 PM | Solid Session |
More commentary archives |
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|