A Penny Earned

A penny earned.  Stocks slid on Trump trade comments yesterday as investors turned their focus on earnings.  After some positive pre-bell earnings surprises stocks started the session in the black but quickly turned down on freshly sparked trade fears.   MY TWO CENTS    Old themes still govern the markets.  Yesterday’s session was teed up…

Much Ado About Nothing

Much ado about nothing.  Stocks drifted slightly higher, even achieving records, on a day with very little to contemplate.  With earnings season looming, traders once again took the path of least resistance.   MY TWO CENTS   Earnings cometh.  Yesterday morning’s Citigroup earnings announcement was considered the unofficial, official beginning to earnings season.  Big banks…

Ain’t No Stopping Us Now!

Ain’t No Stopping Us Now!  Stocks rallied to new highs on Friday, once again, as investors remain convinced that lower rates are a sure thing.  Traders largely ignored inflation figures choosing instead the path of least resistance for stocks… up.   MY TWO CENTS    Sorry, not sorry.  With markets rallying to new highs along…

Every Which Way

Every which way.  Equities posted a mixed close with the Dow and S&P 500 reaching new records, despite a surprise jump in inflation.  The markets spent the day responding to a trove of information from tweets to speeches to economic releases.   MY TWO CENTS    Wait… what? Just when everyone thought inflation was no…

So Much for Small Talk

So much for small talk.  Stocks rallied yesterday as Fed Chief Jerome Powell gave the nod on rate cuts.  Powell’s testimony on Capital Hill hinted strongly that a rate cut is coming.   MY TWO CENTS    The rate whisperer is whispering… and stocks are listening.  In his testimony before the House Banking Committee yesterday,…

Act I.

Act I.  Stocks posted a mixed close yesterday as investors awaited today’s flood of Fed information.  It was all about the Fed and easing monetary policy with investors queuing up to see the two-day show that starts today on Capital Hill.   MY TWO CENTS    Global economies show more signs of weakness.  More signs…

The Running of the Bulls

The running of the bulls.  Stocks slid for a second straight day as investors began to fear that a rate cut may not come later this month.  Similar to the bulls in Pamplona, Spain, Wall Street bulls are not sure which way to run in the wake of last Friday’s blowout jobs number.   MY…

Conclusion Confusion!

Conclusion confusion!  Stocks and bonds slipped on Friday as investors became concerned that a big rate cut may not come in July, after all.   A stronger than expected employment report caused investors to question the likelihood of Fed easing.   MY TWO CENTS    The wacky, wacky world of stock investing.  On Friday, the…

Independence Rally!

Independence rally!  Stocks rallied to new highs on Wednesday, independent of unsupportive macro data.  High spirits were aplenty on Wednesday as stocks surged in an abbreviated session… oh and so did bonds?   MY TWO CENTS    Animal spirits, exuberance… blind optimism… all of the above.  On Wednesday stocks headed to new all time highs…

Adrift

Adrift.  Stocks drifted modestly higher yesterday as Chinese trade rhetoric eased and expectations for easy money rose.  Early session selling on EU trade troubles turned into buying in an uneventful day of trade.   MY TWO CENTS    Reality check.  Traders have been laser-focused on the ups and downs of trade talks with China, allowing…