Afternoon Note
Factory orders slipped 1.6% after increasing 1.7% in December but beating consensus of a decline of 1.8%. A plunge in demand for civilian aircraft caused the drop; however, an increase in machinery and other products indicate that manufacturing could be regaining its footing.

Eight of eleven S&P 500 sectors are higher on the session, with Materials (XLB) stumbling hard. Information Technology (XLK) is at the top of the list, powered by semiconductors, which continue to come on strong. High Beta stocks are faring well once again.

Interestingly, breadth is negative in the NYSE and Nasdaq with more decliners than advancers.
|
Market Breadth |
NYSE |
NASDAQ |
|
Advancers |
1,437 |
1,894 |
|
Decliners |
1,547 |
2,395 |
|
New Highs |
79 |
79 |
|
New Lows |
17 |
46 |
|
Up Volume |
1.04 billion |
1.63 billion |
|
Down Volume |
777.6 million |
1.02 billion |
The rally is losing steam as investors eye Powell’s testimony tomorrow.
| Tweet |
| 1/7/2026 1:29 PM | Change of Guards |
| 1/7/2026 9:45 AM | HOARDING GOLD IN THEM THAR HILLS |
| 1/6/2026 1:24 PM | Strength Continues |
| 1/6/2026 9:38 AM | CALLING ALL SPACE CADETS |
| 1/5/2026 1:36 PM | Starting Off Right |
| 1/5/2026 10:00 AM | 2026 NEW NARRATIVES |
| 1/2/2026 1:06 PM | Mixed Session |
| 1/2/2026 9:41 AM | DAY ONE - 2026 |
| 12/31/2025 9:38 AM | HAPPY NEW YEAR |
| 12/30/2025 1:17 PM | Investors Await FOMC Minutes |
| 12/30/2025 9:38 AM | FED MINUTES TODAY |
| 12/29/2025 2:11 PM | Holiday Continues |
| 12/29/2025 9:44 AM | LARGE STAYS IN CHARGE HEADING INTO 2026 |
| 12/26/2025 12:47 PM | Slow Session |
| 12/26/2025 9:30 AM | The Market’s Gift: New Heights |
| 12/24/2025 9:10 AM | HO HO HO, MERRY CHRISTMAS |
| 12/23/2025 1:35 PM | Just In Time For Santa |
| 12/23/2025 9:26 AM | STRONG START TO A SHORTENED TRADING WEEK |
| 12/22/2025 1:37 PM | Broad Strength |
| 12/22/2025 9:26 AM | GETTING READY FOR THE YEAR-END |
| 12/19/2025 1:40 PM | Is Santa Coming? |
| 12/19/2025 9:38 AM | DEAR SANTA |
| 12/18/2025 1:44 PM | Markets Enthusiastic |
| 12/18/2025 9:28 AM | ORACLE CONTINUES TO HAUNT THE AI TRADE |
| 12/17/2025 1:23 PM | Technology Slides |
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