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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4/21/2025 1:23 PM | Magnificent Seven Slide |
4/21/2025 9:44 AM | LONG WEEK |
4/17/2025 1:12 PM | Morning Recovery |
4/17/2025 9:38 AM | POWELL PUNT |
4/16/2025 1:16 PM | Semiconductor Shift |
4/16/2025 9:34 AM | AIRLINES TAKING OFF IN A RECESSION? |
4/15/2025 1:17 PM | Narrow Range |
4/15/2025 9:48 AM | TURN THOSE MACHINES BACK ON, MAYBE? |
4/14/2025 12:41 PM | Race to Reshore |
4/14/2025 9:50 AM | LESS FEAR BUT MORE CONFUSION |
4/11/2025 1:19 PM | Yields Surge |
4/11/2025 9:51 AM | FINDING SEA LEGS |
4/10/2025 1:28 PM | Markets Seesaw |
4/10/2025 9:52 AM | THIS IS A GREAT TIME TO BUY!!! DJT |
4/9/2025 12:52 PM | Bumpy Wednesday |
4/9/2025 9:53 AM | YOU’D BEST START BELIEVING IN TRADE WARS |
4/8/2025 1:20 PM | Losing Steam |
4/8/2025 9:32 AM | FINDING BALANCE |
4/7/2025 12:57 PM | Watching The Tape! |
4/7/2025 9:43 AM | BRACING FOR MORE |
4/4/2025 1:28 PM | Powell Sets The Tone |
4/4/2025 9:33 AM | (ALMOST) CLASSIC CAPITULATION |
4/3/2025 1:36 PM | Hang In There |
4/3/2025 9:50 AM | FIGHTING BACK WITH NEW RULES |
4/2/2025 1:10 PM | A Win-Win Position |
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