Morning Commentary
The market eked out gains on Friday, and while the biggest gains were in safe havens, Utilities (XLU) and Consumer Staples (XLP), it was impressive, nonetheless. Moreover, I think it signals a greater urgency to be ‘long’ in the stock market.
Growth Keeps Growing
Since the banking scare erupted, so, too, have growth stocks. The move underscores that size matters when things get shaky.
But the move has triggered a change of heart about fundamental stories. Suddenly, the same firms that hated key names like Meta (META) and Nvidia (NVDA) saw the light.
The price not only seduces the fast money crowd but the eggheads, too.
Market Breadth
Market breadth didn’t seem very impressive, but considering the sharp decline at the opening bell, there was a swift shift to change course.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
1,862 |
2,492 |
Decliners |
1,135 |
1,922 |
New Highs |
23 |
42 |
New Lows |
260 |
333 |
Up Volume |
2.80 billion |
2.22 billion |
Down Volume |
1.69 billion |
2.01 billion |
We are watching the bond market, which has been on fire, as a traditional flight to safety pushed yields substantially lower.
Portfolio Approach
There are no weighting changes this morning in our Hotline Model Portfolio.
Today’s Session
Ladies and gentlemen, we have a winner. First Citizens Bancshares of North Carolina is buying Silicon Valley Bank’s assets.
The stock is indicating up more than 50%.
This is great news, but let’s see how much conviction there is around the rest of the market.
Tweet |
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 |
4/24/2025 9:35 AM | VIOLENT SWINGS AND THE RECOVERY |
4/23/2025 1:45 PM | Fears Ease |
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