The market began last week under pressure as fear-mongering shifted in high gear once again.  President Trump went to Davos, Switzerland, with guns blazing, as a reminder that there is a new sheriff in town. The irony is that for all those clinging to the way things have been done, they have no answers for emerging challenges, from economic to security challenges for their citizens.

After stumbling out of the gate on Tuesday, bias shifted to the upside, although with limited traction.

Time to Make a Move

The S&P 500 (SPX) continues to exhibit resolve, but at the same token, it has been stuck trying to make a clean breakout since last October.

The big move won’t come at a rate cut, but there is a chance the Federal Open Market Committee (FOMC) question-and-answer period could give off sparks.

Administration’s Big Moves Continue

The administration continues to invest in publicly traded companies to meet the needs of critical industries that are currently almost totally reliant on China.

I know purists hate this, but they must know we are in a jam, as the status quo that bolsters corporate bottom lines has left everyone at risk, as the Cold War heats up.

Even those sitting pretty in the “ivory tower” must get on board. 

The news should move not only rare earth stocks but also other commodity-related names.

Earnings Season Heats Up

We come into the week with earnings slightly below the consensus, as Industrial (XLI) and Energy (XLE) names have missed the market.

This week, it’s all about “Mag Seven” and other important mega-cap names.

Today’s Session

This morning, durable goods for November came in much better than expected. Meanwhile, Apollo notes that the capex boom has begun.

Looks like a tepid start to the week, but once again the unease hasn’t sparked a dash for the exits.

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