Daily State of the Markets
The Time Has Come
The phrase of the day on this fine summer Friday isn't from any of the politicians seeking our attention 24/7 but rather Fed Chairman Jerome Powell. Giving a highly anticipated speech at the annual Fed confab in Jackson Hole, Mr. Powell told us, "The time has come."
While the mark…
Panic Early Or Not At All!
As long-time readers are no doubt aware, I spend a healthy amount of my day trying to decipher the drivers of the daily market action. In short, whenever markets start to move quickly, I make it my business to understand why. My thinking is if I can stay in tune with what markets are doin…
We've Seen This Movie Before
Markets are selling off hard around the world. The press will have you believe the move is due to Friday's jobs report and fear of recession. In my humble opinion, this is absolutely NOT the case.
With the caveat that I am merely expressing my opinion on the matter, I believe the …
Reasons For Summer Rally
As the misery that was the stock market in April came to a close, investors couldn't be blamed if they were ready to throw up their hands and embrace the old Wall Street adage, "Sell in May and go away!" (More specifically, move to cash on April 30 and return on November 1.) After all, th…
They Were Completely Wrong, But...
By now, analysts still calling for a recession in the good 'ol USofA definitely find themselves in the minority and maybe even at risk of losing his or her job. At the beginning of last year though, the chorus of those expecting the economy to falter was strong. After all, the Fed was hik…
Stronger For (How Much) Longer?
By now, everybody on the planet knows that "higher for longer" remains the Fed's primary battle cry. We also know that Jay Powell's merry band of central bankers will be "data dependent" when it comes to charting their next move. "Stay the course," they say. And "we are committed to getti…
Screaming For Attention
After an impressive string of five consecutive monthly gains, during which the venerable S&P 500 gained an eye-popping 1,060.55 points (or +25.3%) during the November through March period, it now appears that the bears are finally (as in FINALLY!) attempting to get back in the game.
Stick With the Bulls
Long-time readers know that I tend to hang with the glass-is-at-least-half-full crowd when it comes to the longer-term market outlook. The reasons are simple. First and foremost, stocks move higher over time. Yes, I recognize that this trend, which has largely persisted since trading bega…
Not So Fast, Please
To be sure, what I like to call "Fed Expectations" has been the primary driver of the market action for some time now. You know the drill. When economic data or Fedspeak supports the idea of rate cuts in the near future, stocks rise. And vice versa. Simple, right? From my seat, this and t…
