Equities were unable to rebound from yesterday’s selloff. As widely noted, Friday the Dow overcame a 400 point decline trading in a stunning range off 550 points from trough to peak. Technologies were hit the hardest with the NASDAQ down over ...
Equities clawed back from their early morning declines. Bloomberg writes at market lows FANG accounted for about 50% of Friday’s decline. This should be expected given FANG’s large Chinese exposure. Of the $200 billion in goods that will be immediately impacted with...
The recent selloff pales in comparison of selloffs of years’ past. Even though the VIX is rising, in many regards there is still a sense of complacency. With this written, however, several organizations are opining about rising risk. Yesterday Moody’s confirmed a long held...
As widely accepted the markets are now dominated by algorithmic and technology based trading. The SEC has stated that over 90% of trading is the result of technology based trading, comprised of about 60% to 65% algorithmic and 25% to 30% indexing ...
Perhaps I should have titled today’s remarks that the markets have never really deviated from normalcy. I have written many times that I believe interest rates are the largest component of valuation (and technology based trading) formulas. Markets today are only reacting in greater fortitude...
Monetary policy makers gave no clear signal that their next move would be a hike or a cut, or that any adjustment should be expected at their next meeting in June. Officials slightly upgraded their assessment of the economy saying “economic activity rose at solid...
Equity markets declined yesterday on mixed earnings. Disappointing results from both Alphabet and Samsung overshadowed stronger than expected profits from GE and Pfizer. Oil rose on Venezuelan unrest, Saudi Arabia signaling a ...
The VIX or a measurement of volatility (aka risk) has plunged. However as measured by other benchmarks, conviction is very low. Volume has been anemic. The CME stated it has become increasingly easy to exaggerate the price movement of almost any security, the...
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 ...