Morning Commentary
The world watched in horror, and the stock market recoiled as missiles rained on Israel yesterday. The great news is Israel’s Iron Dome held. I can only hope the message to Iran’s terror proxies is the Mullahs are not as powerful as thought, and maybe it's time to consider rejoining humanity.
Tough Sledding
Three of the eleven sectors finished higher.
The glaring red squares stand out not just for their size but also for the session. Investors are losing confidence in Technology (XLK) and the Artificial Intelligence (AI) story. These are the early days of the Fourth Industrial Revolution. Stocks can move lower, even when the value proposition is as impressive as the AI story, but they won’t stay down for long.
Recession Watch
The JOLTs report saw a bump in job openings, but what stands out is plugging hires and quits rates, which correlate with past recessions.
Today’s Session
The ADP Payroll Report bounced, coming in above the consensus of 120,000. Interestingly, the gap between stayers and leavers has sunk considerably.
We are watching for Technology names to hold as all the action continues in Chinese stocks. Particularly in Chinese Technology names.
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11/13/2024 1:21 PM | Rate Cut Bets |
11/13/2024 10:01 AM | RENEWED HOPE FOR PEACE & STRENGTH |
11/12/2024 1:33 PM | Profit Taking Tuesday |
11/12/2024 9:47 AM | FLAME ON |
11/11/2024 1:07 PM | Tired Rally |
11/11/2024 9:49 AM | The Markets Are Pumped |
11/8/2024 1:04 PM | Stellar Week |
11/8/2024 9:47 AM | POWELL GETS TOUGH (WITH TRUMP, NOT INFLATION) |
11/7/2024 12:57 PM | Rate Decision |
11/7/2024 9:55 AM | THE SWAGGER IS BACK |
11/6/2024 1:25 PM | Trump Trade Bonanza |
11/6/2024 9:47 AM | Election Rally |
11/5/2024 12:54 PM | Holding the Script |
11/5/2024 9:50 AM | VOTE, AMERICA |
11/4/2024 1:32 PM | Election Fear |
11/4/2024 9:55 AM | THE CANARY SQUAWKS |
11/1/2024 1:10 PM | Lots of Excuses |
11/1/2024 9:33 AM | LEAD BALLOONS |
10/31/2024 1:52 PM | Difficult Sledding |
10/31/2024 10:01 AM | TOO COCKY? |
10/30/2024 1:45 PM | Check Time |
10/30/2024 9:44 AM | GENERALS LEAD…KEEP UP IF YOU CAN |
10/29/2024 1:47 PM | All Eyes on Google |
10/29/2024 9:09 AM | DJT SETS THE PACE |
10/28/2024 1:43 PM | Busy Week |
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