On the one hand, the market never got out of the gate yesterday. But on the other hand, it didn’t fall through a trapdoor. That 1960s theme continued as coal, railroad, and tobacco were among the biggest advancers.
Crimson in Technology (XLK) and mostly green everywhere else resulted in a slight gain for the overall S&P 500.
However, the CBOE Market Volatility Index (VIX) is below 20.00, revealing the complacency that drives professional investors insane.
After the close, Lululemon (LULU) surged on its earnings results, and Micron Technology (MU) edged higher. So, perhaps clothing will be the best-performing industry for the second session in a row?
Is this a going-back-to-work thing?
Of course, all eyes will be on banks as the Fed Vice Chair Michael Barr testifies before the House today. Banking names are holding, but there is a general sense of more trouble ahead.
There are no changes to our sector weights in our Hotline Model Portfolio.
Futures are higher this morning as the market tries to rebound from yesterday’s losses.
The Fed appears to be opening the door for pause in rate hikes. The Street is now modeling a 60.3% chance of no rate hikes at the next Federal Open Market Committee (FOMC) gathering.
Stagnating growth, and the end of the Fed’s rate-hiking, will weigh on the dollar and cause it to start trending down again, warns HSBC. The dollar has slipped less than 1% year-to-date and is acting more resilient than expected.
|I received my first email from Charles Payne and it was thorough.|
Jon Stone on 3/29/2023 11:40:31 AM
|Your story on Silicon Valley excesses was great. Mileage off a tad. 223. Pacific Palisades to Bradley.|
Tom Holcomb on 3/29/2023 3:28:07 PM
|6/6/2023 1:23 PM||Resolve and Opportunity|
|6/6/2023 7:28 AM||RUNNING OUT OF STEAM|
|6/5/2023 1:33 PM||So Far So Good|
|6/5/2023 9:57 AM||WHAT A TRIP|
|6/2/2023 1:37 PM||Jobs Rally|
|6/2/2023 9:56 AM||JOBS REPORT ON DECK|
|6/1/2023 1:48 PM||Fascinating Resolve|
|6/1/2023 9:32 AM||A Punt Not a Pause?|
|5/31/2023 1:31 PM||Rolling Over|
|5/31/2023 9:44 AM||PAUSE TO ASSESS|
|5/30/2023 1:50 PM||Nvidia Jumps|
|5/30/2023 9:50 AM||FREE PASS FOR $5.0 TRILLION MORE IN DEFICIT SPENDING|
|5/26/2023 1:23 PM||Happy 127th Birthday Dow Jones Industrial Average|
|5/26/2023 9:48 AM||Generals Only|
|5/25/2023 1:37 PM||Intel Sinks as Nvidia Pops|
|5/25/2023 9:55 AM||SURPASSING THE HYPE|
|5/24/2023 1:28 PM||A Little Cynical|
|5/24/2023 9:38 AM||PRESSURE BUSTS PIPES|
|5/23/2023 2:03 PM||Uncertainty Continues|
|5/23/2023 9:33 AM||NEW HIGHS ON THE RISE|
|5/22/2023 1:44 PM||Somewhat More Positive Day|
|5/22/2023 9:48 AM||THE X FACTOR IS EVERYTHING|
|5/19/2023 1:49 PM||Debt Ceiling Hiccup|
|5/19/2023 9:47 AM||THIS IS IT?|
|5/18/2023 1:54 PM||Market Mixed|
|More commentary archives|
Products & Services |
In The Media |
About Us |
All Rights Reserved.