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.
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9/18/2025 9:48 AM | Risk Management Cut |
9/17/2025 1:33 PM | Fed on Deck |
9/17/2025 9:43 AM | Champing at the Bit |
9/16/2025 1:33 PM | All Eyes on the FOMC Meeting |
9/16/2025 10:05 AM | Growth Leads the Way |
9/15/2025 1:36 PM | Solid Rally |
9/15/2025 9:50 AM | It's Still Tech As We Await the Fed |
9/12/2025 1:28 PM | Mega-Caps Move Higher |
9/12/2025 9:32 AM | JAILBREAK |
9/11/2025 1:39 PM | Rally Continues |
9/11/2025 10:08 AM | All AI All the Time |
9/10/2025 1:55 PM | The Oracle Effect |
9/10/2025 9:50 AM | PARTY IN WHOVILLE |
9/9/2025 1:50 PM | Sharp BLS Revision |
9/9/2025 9:48 AM | Tech & Large Cap Safety |
9/8/2025 1:29 PM | Technology Leads Again |
9/8/2025 9:34 AM | FOREBODING |
9/5/2025 1:29 PM | Jobs Data Digest |
9/5/2025 9:55 AM | JOBS DAY (BUCKLE UP) |
9/4/2025 1:07 PM | Stocks Rise and Yields Sink |
9/4/2025 9:45 AM | MOSTLY BLAND |
9/3/2025 1:48 PM | Big Tech Rebounds |
9/3/2025 9:41 AM | NOT AN EMOTIONAL RELEASE (YET) |
9/2/2025 1:37 PM | Gloomy Start |
9/2/2025 9:44 AM | REMEMBER SEPTEMBER? |
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