Like Watching Paint Dry

The stock market ended the day on a flat note after sliding from its opening high. The S&P settled just below its flat line to register its third consecutive decline while the Nasdaq  outperformed throughout the day. Prior to the open, the Retail Sales report for April missed expectations for the fifth consecutive month.  Only […]

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It Seems To Be About Bonds Again

Equity indices endured a shaky open after the overnight session featured more selling in European and U.S. bond markets; however, that pressure abated shortly before the opening bell with the 10-yr note marking its low at 8:00 ET. At that time, the yield marked a session high at 2.36% and began its daylong retreat that […]

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Kryptonite Level Holds Again

Well, we had another retreat as we approached what I have coined the ‘kryptonite level”.  Lets call it the 2120 area on the SPX.  This “poke & pull” been going on since the end of February.  Market rates spiked again with 10-yr yield at highs for the year and the 30-yr bond yield above 3.00%. […]

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An Indecisive Market Right Now

The stock market snapped its two-day skid with a Thursday advance that lifted the S&P 500 (+0.4%) into the neighborhood of its 50-day moving average (2,089). Sector rotation is in full swing. Below we can see how the various sectors fared in the month of April. Energy was the clear winner along with a bump […]

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Yellen Talks Down the Market….Again

The market registered its second consecutive decline on Wednesday with the S&P (-0.5%) bouncing off its 100-day moving average (2,070). Equity indices began the day with slim gains, but the Dow, Nasdaq, and S&P 500 quickly returned below their 50-day moving averages and continued lower throughout the day. Adding to the pressure were comments from […]

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Market Weakness Kicking In

The market ended Tuesday on a sharply lower note following a daylong retreat that was paced by the Nasdaq Composite (-1.6%). For its part, the S&P 500 lost 1.2% with all ten sectors ending in the red. The Tuesday selloff in U.S. equities followed an overnight session that featured a 4.1% drop in China’s Shanghai […]

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Clawing Higher On No Volume

Stocks notched a second straight session of gains Monday, but volume once again faded. The Nasdaq gained on 0.2%, while the S&P 500 and the Dow Jones industrial average added 0.3% each. The small-cap Russell 2000 gained 0.5%. Volume, though, fell 8% on the NYSE and 12% on the Nasdaq. Seven of ten sectors finished […]

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Thursday Market Wrap- Biotech Rolling Over

The major averages ended April on a lower note, but managed to escape with monthly gains. The S&P 500 lost 1.0% and narrowed its April gain to 0.9% while the Nasdaq  (-1.6%) underperformed today and ended the month (+0.8%) just behind the S&P. The tech sector contributed to the underperformance of the Nasdaq, but the […]

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