October 27, 2021
Showing Some Restraint
There is plenty of good earnings news this morning to get the stock market going, but because the going hasn’t been tough at all this month, the stock market isn’t really going like one might think.
Briefing In Play offers live market-moving analysis, earnings and news coverage, broker ratings changes, as well as comprehensive economic coverage and commentary. Briefing in Play Plus includes everything in Briefing In Play, and features investment idea generation and in-depth analysis. Briefing Trader includes everything in Briefing In Play Plus, and features live trading ideas with specific entry/exit points as well as access to the new streaming audio feature, Trader Audio.
October 26, 2021
No Break Yet in The Positive Price Momentum
Just because some technical indicators might suggest the stock market is overbought on a short-term basis and ripe for a pullback doesn’t mean market participants will necessarily comply with that setup. They certainly aren’t in pre-market action anyway.
October 25, 2021
Resilience Is the Word
Records were set last week by the S&P 500 and Dow Jones Industrial Average. More could be coming this week, but there is a big earnings hill to climb if that is going to happen.
October 20, 2021
Bears Have Their Work Cut Out For Them
The S&P 500 and Nasdaq Composite have enjoyed five straight wining sessions. During that streak, they have increased 3.9% and 4.6%, respectively, yet their uptrending ways go back even further. Since their lows on October 4, they are up 5.6% and 6.7%, respectively.
October 14, 2021
Peak Inflation View Has Rebound Effort in Play
The stock market didn’t make a big move yesterday, but the Treasury market did, and that move is making a difference this morning along with some better than expected earnings news. Briefly, after hearing that total CPI was up 5.4% year-over-year in September and that core CPI was up 4.0%, longer-dated Treasury securities rallied. That … Continue reading Peak Inflation View Has Rebound Effort in Play
October 11, 2021
Market Shaken, Not Stirred, Over Bond Yields
The Treasury market isn’t open today. It is closed in observance of Columbus Day, but even so, you’ll still be hearing a lot about bonds today (including James Bond since it was opening weekend for No Time to Die).
October 8, 2021
September Employment Report Paints A Muddled Picture
The reaction to the September employment report, meanwhile, has been a muddled one because the report itself was muddled.
October 4, 2021
The Bags Are Still Packed
Alas, there is a mishmash of headlines contributing to a wait-and-see mindset. No one is really sure what today’s tape will show.
September 29, 2021
No Surprise in Mechanical Rebound Effort
The major indices suffered large losses yesterday that were pinned on a jump in Treasury yields and a violation of technical support at the 50-day moving average for the S&P 500 and Nasdaq Composite.
September 28, 2021
Higher Rates and Higher Energy Prices Feeding Lower Futures Prices
Treasury yields continue to rise, as do energy prices. The latter is a factor in the former, but combined, both factors are contributing to some nervous-minded action in the futures market.
September 20, 2021
What You See — And It Isn’t Pretty — Is What You Are Going to Get
There is broad-based de-risking in the making. The question is, will the early swoon be greeted as a buying opportunity?
September 17, 2021
Some Knocks Under the Hood
The major indices are on track for a winning week, but they aren’t sitting on a large cushion entering today. Gains for the week range from 0.2% to 0.4%.
September 16, 2021
Hoping for Follow Through
The stock market put together a winning session on Wednesday. The question is, can it follow up with another one today?
September 13, 2021
Eyeing A Rebound Bid
The S&P 500 futures are up 40 points and trade 0.8% above fair value to start the week, as investors show an early inclination to buy the dip. The benchmark index enters the session on a five-session losing streak and about 2% off its record high.
September 7, 2021
Settling in After the Long Weekend
Market participants can be forgiven for not showing a lot of conviction before today’s open. Interest levels may have been depleted over the extended Labor Day weekend.
September 3, 2021
August Jobs Report Has Created A Real Mess
There was job growth in August, but it was woefully weaker than the job growth seen in July. The key takeaway from the August report, frankly, is that it was a real mess from a policy-making standpoint.
August 30, 2021
In Preservation Mode
A record finish Friday for the S&P 500 and Nasdaq Composite is being preserved for the most part this morning by the futures market. There isn’t a lot of buying conviction at the moment, but notably, there isn’t any selling conviction either.
August 25, 2021
A Cooling-Off Period
The stock market appears to be cooling off just a bit after a hot start to the week that has ferried the S&P 500 and Nasdaq Composite to new record highs.
August 23, 2021
Rebound-Minded Action
The futures market is continuing Friday’s rebound action. In fact, if the S&P 500 opens as the futures market suggests it will, the S&P 500 will have made up nearly everything it lost last week.
August 18, 2021
Adrift in The Summer Doldrums
The stock market is coming off a weaker showing yesterday and it still doesn’t have a lot of bounce in its step.
August 10, 2021
Devoid of Conviction for Now
Like yesterday, the stock market is devoid of conviction. The futures for the S&P 500, Nasdaq 100, and Dow Jones Industrial Average are little changed and trading close to fair value.
August 9, 2021
Growth Factors in The Mix
Record-closing highs on Friday for the Dow Jones Industrial Average and S&P 500 aren’t being greeted this morning with follow-through buying interest. To be fair, they aren’t being greeted with a great deal of selling interest either.
August 4, 2021
Interplay Between Stocks and Bonds Is In Play
The S&P 500 logged a record closing high yesterday and the Dow Jones Industrial Average came close. They are expected to back down from those levels when the opening bell ring.
August 3, 2021
Stocks Are Indicated Higher, But Pressure Is On
What remains to be seen if the stock and bond markets end up trading like it was yesterday, which is to say stocks fade as Treasury yields sink.
July 30, 2021
Market Feeling Weight of AMZN Losses
Amazon’s weakness is borne out of a revenue disappointment for its second quarter and lower than expected revenue guidance for its third quarter.
July 28, 2021
No Real Surprise in Better Than Expected Results
There has been a ton of earnings news since yesterday’s close and there has been one “better than expected” report after the next. These aren’t small companies reporting either. They are the biggest and some of the most widely-held companies.
July 26, 2021
Signs of Softness As Big Week of News Begins
The futures for the major indices are trading lower, but relative to fair value, they are only slightly below fair value. In other words, it should be a soft and modestly lower start for the major indices.
July 20, 2021
Positive Start Expected, But the Close Matters More
The key thing today, however, isn’t how the stock market starts, it’s how it finishes. Given the market’s behavior since the lows in March 2020, it should come as no surprise that it is attempting to bounce back from yesterday’s selling.
July 1, 2021
Walking a Mixed Line as Q3 Begins
Today marks the start of July and the beginning of the third quarter. The first day of a new month tends to be accented with a positive bias, particularly in an uptrending market where liquidity is widely available, as new money gets put to work.
June 29, 2021
It’s A Windy City
The trading winds have shifted this morning. The technology stocks, which enjoyed a tailwind yesterday, are now facing a headwind. Conversely, cyclical stocks, which dealt with a headwind yesterday, are now benefiting from a tailwind.
