Market in Review 2/1/2024
MARKET REPORT Review: – US NFP TOM MORN. All eyes. (+AU PPI) – Strong ISM Manufacturing – Conflicting Gaza ceasefire reports – Rising initial jobless claims – BoE hold rates, as expected (three-way split) – Stocks up, Dollar down, crude down, crypto consolidates, Gold flat. DOLLAR: – AUD UNCH: 65.71 UNCH (65.10 – 65.75) […]
Market in Review 1/31/2024
MARKET REPORT Review: – Fed keeps rates unchanged (as Exp) – Powell signals MAR rate cut unlikely, inflation is decreasing, still too high, need more evidence – Rates likely to move down this year, unlikely Mar – Treasuries up past 4% after falling back on data showing hiring slower than expected, employment costs rose softest […]
Market in Review 25/1/2024
MARKET REPORT Review: – Crude up 3% ($77.25) on stronger US GDP (higher expected demand on economic growth) combined with decline in crude stocks – S&P notches 5th straight record day – Tesla down 12%, worst day since 2020 – US GDP +3.3% vs 2% Forecast (Hawish) – PCE (Q4) 2% in line (Dovish) – […]
Market in Review 1/24/2024
MARKET REPORT Review: – SP & Nasdaq close record highs – Broader Equities flat, Nasdaq up 0.5% – Nvidia +2.5% all to time highs, Microsoft, Meta all time highs, ASML up on quarterly results – Dollar touch weaker, rallied into the afternoon – Gold Hit 2036 before falling off cliff – Crypto flat after dump […]
Market in Review 1/19/2024
MARKET REPORT Review: – S&P 500 hits record high 4820 (Prev 4818 Jan 4th, 2022) – Shares of the so-called Magnificent Seven – Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms and Tesla – surged between about 50% and 240% last year. Collectively, they account for about 28% of the S&P 500 and were responsible for […]
Market in review 1/18/2024
MARKET REPORT Review: – Philly Fed up, (albeit less than expected) – Bostic reiterated willingness to cut rates before July if data permits – Housing starts ease vs building permits rise – Jobless Claims down – US Senate stopgap funding bill to avert government shutdown secures enough votes to pass. – Apple strongest day in […]
Market in Review 1/17/2024
MARKET REPORT Review: – US Retail sales – Strong (+.6 Exp +0.4) – US Homebuilder optimism jumped – US Industrial Production better than expected – UK Inflation HIGHER (CPI Exp +3.8% Act +4.0%) – US 10yr above 4% – Mar rate cut odds tumble – 57% chance the Fed cuts, down from a 67% chance last week and 71% […]
Market in Review 1/12/2024
MARKET REPORT Review: – Surprise decline in producer prices reinforced bets on Federal Reserve rate cuts this year. – Traders are pricing in an 80% chance of a Fed reduction in March — up from a little over 50% a week ago – Expectations for 2024 rate-cuts exploded to new highs at 170bps (now fully […]
Market in Review 1/11/2024
MARKET REPORT Review: – Headline CPI rose 0.3% in Dec – 0.2% forecast, 0.1% prev in Nov – Annual rate rose 3.4% Y/Y – 3.2% forecast, prior 3.1% – likely see the Fed continue to push-back on market pricing for early rate cuts – money markets still price a 65% probability of a 25bps rate […]
Market in Review 1/10/2024
MARKET REPORT Review: – Steve McClurg, co-founder and chief investment officer of Valkyrie Funds, has suggested the potential approval of Ethereum or XRP exchange-traded funds (ETFs) following the expected launch of spot Bitcoin ETFs in a recent Bloomberg interview. ETHEREUM SURGES +10% – Oil falls as Stockpiles override Houthi shipping attacks – Treasury 10yr yield […]
