Where Did Demand Go?
China PMIs for April on Friday night plummeted due to country’s zero-virus policy and lockdowns, state read Manufacturing contracted at 47.4 versus 48 expected and private Caixin contracted at 46.0 versus 47.0. Services came in at 41.9.
Can Stability Overseas Offset Earnings Shock?
Earnings from Apple and Amazon after the bell brought an immediate shock to the broad market. Amazon is down about 10% after the fourth largest company in the U.S. by market cap lost $7.56 per share when +$8.37 was expected.
Midday Market Minute April 27, 2022
Panic, Although Uncomfortable, Is Welcomed
Yesterday’s bloodbath, although uncomfortable, was welcomed. The S&P fell 7% from Thursday’s high to Monday’s low and there were some signs of panic before rebounding into Monday’s close.
Midday Market Minute April 25, 2022
Demand Destruction and Excessive Negative Sentiment
China leads global risk-assets lower. Shanghai enters fourth week of lockdowns and fear mounts Beijing will follow after mass testing begins. Panic buying at stores to prepare. Shanghai Composite -5.13% and Hang Seng -3.73%.
Midday Market Minute April 21, 2022
Make No Mistake, This Is Tesla
Let us not beat around the bush; this morning’s strength is Tesla and all about Tesla. If the company had missed earnings, the market would be singing a very different tune.
Everyone Is On Spring Break
Everyone is on Spring Break. Of course, I mean this figuratively, but the reality is people are out, and people are spending money.
Key Breakouts and Breakdowns
Producer Prices are Leading Indicator to Consumer Prices
U.S. Producer Price Index for March surges past expectations with a headline read of 11.2% YoY and +1.4% MoM.
Midday Market Minute April 5, 2022
Midday Market Minute April 4, 2022
Navigating the Risk-Landscape
Russian war crimes in areas around Kyiv, create calls for new sanctions. French President Macron spearheads push for immediate embargo on Oil and Coal from Russia, but not Natural Gas.
Quarter Kicks Off with Jobs
March Nonfarm Payrolls to kick off the new quarter, due at 7:30 am CT. Expectations for 490,000 jobs but wage growth, an inflation indicator, a major focus.
Midday Market Minute March 31, 2022
Eagle-Eyed Looking Ahead
It is the last day of a tumultuous first quarter. As we reflect to learn from our positives and negatives, we cannot help but to look forward and realize the fundamental uncertainties that lie ahead.
Midday Market Minute March 29, 2022
Smoke and Mirrors?
Stock market euphoria has arrived in 2022. A relentless bid post-FOMC, through Quadruple Witching, and since last week has carried the S&P 11% to two-month highs, all in just two weeks.
Midday Market Minute March 28, 2022
Roadmap to Kickoff Your Week
Stocks Marching & Commodities Retreating
Bank of America weekly flows suggest $1.2 billion came out of stocks. Also, $13.2 billion moved into cash. Price action is out above our Pivot and point of balance at 4520.50 in the S&P and 14,765-14,780 in the NQ.
Midday Market Minute March 24, 2022
A Digestion Phase or More to Come?
U.S. equity benchmarks digested the week-long run yesterday and are pointing higher ahead of the opening bell. Overseas markets were mixed with the Nikkei gaining ground while the DAX and Hang Seng slipped,
Midday Market Minute March 23, 2022
Midday Market Minute March 22, 2022
Midday Market Minute March 21, 2022
Bullish Continuation or Bear Market Rally?
Kremlin says peace talks have not progressed as much as they should and mark no basis for a Putin-Zelenskyy meeting. Russia moves in on Mariupol, pro-Russian Donetsk leader says will capture in no less than a week.