Afternoon Note
It’s been a very lackluster session with the Nasdaq dropping like a lead balloon and the S&P trying to gain traction but coming up short for now.
It does feel like there is no sense of urgency for buyers to step up.
A lot of red on the screen, but the safest haven sector (Utilities (XLU) and Health Care (XLV) are the least bad performer.
Sharp decline in Consumer Sentiment, which came in well below consensus, as energy prices increased, and a potential government shutdown is on the horizon. Inflation expectations improved modestly, though.
Univ. of Michigan |
Actual |
Consensus |
July |
Sentiment |
67.7 |
69.0 |
69.5 |
Current Conditions |
69.8 |
74.8 |
75.7 |
Expectations |
66.3 |
65.00 |
65.5 |
1 Yr. Inflation |
3.1% |
3.5% |
3.5% |
5-10 Yr. Inflation |
2.7% |
3.0% |
3.0% |
Have a great weekend.
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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