Equities: Bullish Conditions Persist
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.
Wheat (ZW) Tries Bouncing Off Daily Chart Upchannel Support
August 27, 2021
Technical Analysis Heading into Friday’s Open: August 27, 2021
Arabica Coffee (KC) Daily MACD Trying to Positively Cross
Midday Market Minute: August 26, 2021
Understanding Risk-Assets Ahead of Powell
On Wednesday, we discussed the House paving the way for President Biden’s $4 trillion budget and how the lingering debt ceiling impacts Treasury issuance. The Jackson Hole Symposium will be fully virtual tomorrow. Fed Chair Powell’s speech at 9:00 am CT is the main event.
Markets Generally Weak
Midday Market Minute: August 25, 2021
Kuaishou Technology Beats Estimates on Q2 Revenue
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.
WTI Crude (CL) Reverses Last Week’s Losses Ahead of Inventory
Midday Market Minute: August 24, 2021
Index and Sector Breakdowns Remain Absent
As COVID Cases Rise, Will Powell Address Fed Tapering?
Headlines can have a big impact on sentiment in a short period of time. However, Kristina Hooper of Invesco thinks it is much more informative to look at mobility data than consumer sentiment.
The Week that Was: August 16 to August 20
Gold, an “Attractive Insurance Policy”
Catch-Up on Crop Conditions
Yesterday morning, the USDA announced a flash sale of 458,600 metric tons to Mexico for the 2021/2022 marketing year (equivalent to 18,054,285 bushels).
August 24, 2021
Technical Analysis Heading into Tuesday’s Open: August 24, 2021
VIX (VX) Slides Back to Below Key 20 Level
Crude Oil Correction to Continue
Economic Update: August 23, 2021
2Q21 real GDP grew at a 6.5% q/q seasonally adjusted annual rate. Increases were broad based and were partly offset by decreases in inventories, residential fixed investment and government spending.
China Cases, PMIs, and Jackson Hole Jitters
Flash PMIs from the U.S. for August are due at 8:45 am CT. Manufacturing is expected at 62.5, a touch slower than recent months, but still expanding at a historical pace.
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.
Wheat (ZW) Tests 38.2% Fib Retrace of Jul-Aug Rally
‘Temporary Inflation’: Making Head or Tails of It
The objective of this article is to attempt a ‘bird’s eye view’ on ‘temporary inflation’ and the possible impact on interest rates.