First quarter GDP is released at 8:30. Consensus is expecting a first quarter growth rate of 2.3% albeit the range of estimates is wide with some suggesting a 1.5% growth rate while others a 3.1% pace. In early March consensus was predicating ...
A statistic from Art Cashin places the myopicy of today’s market into proper perspective. There are only 13 stocks in the S & P 500 making new highs. This is the narrowest advance in history, being pushed by an ...
The NASDAQ 100 is up over 23% for the year. Approximate half of the gains are from four stocks according to Bloomberg. What is more striking the NASDAQ 100 has hit three consecutive highs while the equal weight index ...
Markets were quiet on light volume ahead of an earnings deluge, a deluge that includes some of the companies that have powered the rebound from its December lows. The oil market however was not quiet. Crude leapt to its highest level in almost six months...
Retail sales jumped the most since September 2017 and first time filings for unemployment benefits dropped to a fresh 49 year low, as a strong labor market gives consumers the wherewithal to keep spending. When first quarter GDP is released on April 26, analysts...
Five weeks ago the recessionary narrative was at the point of being hyperbolic. A major issue at hand was the data at that time did not fully support this theme. Five weeks later little attention has been focused upon concrete data that is...
Equities were again mixed as a group of high profile earnings offered disparate clues on the strength of the economy. Treasuries continued to slump with rates falling to levels last seen before the Fed’s dovish tilt a month ago. Oil advanced about ...
Markets were relatively quiet as two mega sized financials posted disappointing results. Many are beginning to write the current advance is “looking tired.” Will earnings rejuvenate the averages? Several high profile companies report this week including ...
Earnings season commenced on a positive note as two mega sized financials posted positive surprises. Crude continued to advance and there was a major merger in this sector at a price 39% higher than previous day closing thus suggesting ...
Markets were mixed ahead of the commencement of first quarter earnings season and data that confirms the economy is on solid footing. Commenting about the data, weekly jobless claims are at the lowest level since ...