Cautious Rotation
Though we closed out last week’s trading with a directionless and rather uneventful session on Friday, for the week, the Dow Industrials gained a healthy 2.3%, and in the process […]
How did COVID-19 impact Q2 results and guidance?
The Nasdaq composite rallied 4% last week, and as we have discussed in recent notes, the S&P 500 and Dow industrials underperformed on a relative basis for three months. The […]
“Every record has been destroyed or falsified….” George Orwell
US equity markets continued their trade higher last week, and on Thursday in particular, received a bump higher due to a significantly stronger-than-expected June Employment Report. Nonfarm payrolls (I) were […]
US STOCKS-S&P 500 poised for best quarter since 1998
By Chuck Mikolajczak “There is a huge game of musical chairs going on here and that is really favoring the Nasdaq and it is really punishing the indices that have […]
“The Partnership Program” Vintage footage from the NYSE
Special contribution by our friend, Bob Zito, of Zito Partners: How Television Got to the NYSE Trading Floor Click for video (3:22)
Stocks are losing momentum: strategist
Kenny’s Commentary on Reuters TV with Fred Katayama: Cautious about stocks because of the Nasdaq’s stretched valuations and weakness in financial stocks. Peter tells Reuters’ Fred Katayama investors should take […]
Stocks lose ground on the week, but remain in channel
After a turbulent week, we opened on Friday with equity markets trading sharply lower only to see institutional buyers step in to take advantage of the steep intraday discounts. As […]
Dow in the Dust
Despite a relentless drumbeat of dire economic data releases again last week (ADP, Employment Report et. al.), markets moved sharply higher. Given the economic backdrop we find ourselves mired in, […]
Negative economic data will trigger reset lower
International trade data for March is released Tuesday at 8:30 am. Econoday consensus is calling for March’s reading to be $-44.0 B. February’s results were $-39.9 B. Also on Tuesday, […]
Suburban elites, Range Rovers and toilet paper
Slowly, selectively, and deliberately, some states and businesses will begin to reopen this week on a limited basis as indications emerge that we may have passed the peak of the Covid-19 pandemic […]