Afternoon Note
It’s been a pedestrian session thus far, but that only proves stocks are in strong hands. Major Wall Street firms came out swinging this morning.
Mega cap names reversed the pre-opening weakness to edge higher, as traditional haven sectors stumbled, except Utilities, which are rocking today.
I’m digging the action in Materials but a little dismayed with Industrials.
The same firms that have been trying to scare the heck out of investors all year long appear to be the ones panicking.
Meanwhile, there are more signs the economy is slowing. The ISM Service report was much weaker than even the headline miss suggests.
US Service ISM:
- Index 50.3 (last 51.9)
- New orders 52.9 (last 56.1)
- Price paid 56.2 (59.6)
- Employment 49.2 (50.8)
- Exports 59 (60.9)
-Supplier deliveries 47.7 (48.6)
- Backlogs 40.9 (49.7)
- Inventory sentiment 61 (48.9)
So far so good but the week is early.
Tweet |
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 |
4/23/2025 9:38 AM | FUNDAMENTALS & HOPE |
4/22/2025 12:42 PM | Tuesday Reputation |
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