Morning Commentary
Yesterday was one of those sessions that felt inconsequential, yet it was a significant test for the market, which had several reasons to move lower; however, it was buoyed by nibbling at the dip and sellers' exhaustion. Plus, maybe sanity about tariffs not being the end of the world.
Despite a thousand more decliners than advancers, the volume was the same, up and down, suggesting that buyers are emerging from the woodwork, narrowly focused on fewer names.
Investors continue to return home to Technology (XLK) and momentum.
Communication Services (XLC) led the way, followed by the Consumer Discretionary (XLY) and Financials (XLF).
Thank you very much, Mr. Roboto
Six of the “Mag Seven” stocks rallied as Nvidia (NVDA) was anchored from data center comments from the Chairman of Alibaba (BABA).
Today should be a fun one on Capitol Hill as Elon Musk brings Optimus the Robot to town - no word yet on registering him to vote.
Today’s Session
Durable goods came in better than expected.
A story in the Financial Times is pressuring Nvidia (NVDA) this morning along with the Alibaba (BABA) warning of too many datacenters. We are seeing pressure on some chip and Utilities (XLU) names this morning.
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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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