Afternoon Note
A mixed market is kicking off this holiday shortened week. Investors are reacting to news over the weekend that President Biden and House Speaker McCarthy reached a debt ceiling deal; however, uncertainty remains until the deal passes Congress.
On the economic front, Consumer Confidence and Expectations fell again in May, dragged down by a decline in how Americans perceive the job market.
Conf. Board |
Actual |
Consensus |
Prior |
Revised |
Consumer Confidence |
102.3 |
99.0 |
101.3 |
103.7 |
Present Situation |
148.6 |
-- |
151.1 |
-- |
Expectations |
71.5 |
-- |
68.1 |
-- |
Another disappointing data report, Dallas Fed Manufacturing Survey, contracted for the thirteenth straight month. Economists were expecting a bounce in May (actual -29 vs. consensus -18), but it didn’t happen.
The respondents’ remarks say it all:
Four sectors in the S&P 500 are hanging onto gains, while seven are trading lower with Energy and Consumer Staples down more than 1.1%.
NVIDIA (NVDA) rallied over 5%, hitting a $1 trillion market cap this morning after CEO Jensen Huang unveiled a host of new AI-related products and services yesterday.
Tweet |
9/28/2023 1:34 PM | Changing the Course |
9/28/2023 9:40 AM | A PAUSE IN THE PULLBACK |
9/27/2023 1:45 PM | Tense Session |
9/27/2023 9:39 AM | KEY TEST OF SUPPORT AHEAD |
9/26/2023 1:21 PM | Typical Tantrum |
9/26/2023 9:50 AM | A LITTLE SPUNK |
9/25/2023 1:59 PM | Yields On the Spotlight Again |
9/25/2023 9:42 AM | GREEN LEAVES |
9/22/2023 1:42 PM | Challenging Week |
9/22/2023 9:44 AM | NOT THE END OF THE WORLD |
9/21/2023 1:33 PM | First Casualties |
9/21/2023 9:46 AM | WAS IT SOMETHING HE SAID? |
9/20/2023 1:32 PM | Ready to Pounce |
9/20/2023 9:54 AM | LOOKING FORWARD TO THE DOT PLOT |
9/19/2023 1:23 PM | Red Letter Day |
9/19/2023 9:40 AM | AMERICAN EXCEPTIONALISM |
9/18/2023 1:32 PM | Tepid Volume |
9/18/2023 9:44 AM | Lots of Angst |
9/15/2023 1:33 PM | Lackluster Session |
9/15/2023 9:44 AM | KEEPING POWELL OUT OF THE GAME |
9/14/2023 1:32 PM | Arm IPO Pops in its debut |
9/14/2023 10:08 AM | CONSUMER CHECKUP |
9/13/2023 1:33 PM | Mixed Bag |
9/13/2023 9:35 AM | MOUNTING TENSION |
9/12/2023 1:49 PM | Big Move in Oil |
More commentary archives |
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|