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Market Brief – Friday 9/30/22

Stocks and Treasury yields started the day a bit lower. Stocks were trying to rally in early trading as investors keep buying the dip while Treasury yields remained lower in early trading. The Personal Consumption Expenditures (PCE) price index rose +0.3% in August and +6.2% from this time last year. Excluding food and energy, Core … Read more

Market Brief – Thursday 9/29/22

Stocks started the day lower, and Treasury yields higher as fears of uncertainty weigh on global investors. Initial unemployment claims fell -16k to 193k last week. State claims fell -29k to 1.347 million. Stocks closed sharply lower and erased all of yesterday’s gains. Treasury yields closed higher on the day.

Market Brief – Wednesday 9/28/22

Stocks were flat in overnight trading and Treasury yields fell sharply following the Bank of England’s announcement that they will resume purchasing long-dated Gilts. Mortgage applications fell -3.7% last week as purchase applications fell slightly and refinance applications fell. The Goods Trade Balance, or trade deficit, decreased to -$87.30 billion in August from -$90.19 billion … Read more

Market Brief – Tuesday 9/27/22

Stocks rallied in overnight trading as investors remain ever vigilant about buying the dips. Treasury yields rose in overnight trading. Durable goods new orders fell -0.2%, excluding food and energy, core durable goods new orders rose +0.2%, durable goods new orders excluding defense fell -0.9%, and durable goods new orders non-defense excluding aircraft rose +1.3% … Read more

Market Brief – Monday 9/26/22

Stocks were unchanged over the weekend while Treasury yields started the day a bit higher. Stocks made an initial move higher which was rejected while Treasury yields headed higher. The Chicago Fed National Activity Index (CNFAI) decreased to 0.00 in August from 0.29 in July, indicating the national economy is growing at its historical trend … Read more

Market Brief – Friday 9/23/22

Stocks started the day lower, and Treasury yields slightly lower as tighter global monetary policy is weighing on risk assets. The preliminary S&P Global U.S. Manufacturing PMI expanded at a slightly faster rate from 51.5 last month to 51.8 in September. The preliminary S&P Global U.S. Services PMI contracted at slower rate from 43.7 last … Read more

Market Brief – Thursday 9/22/22

Stocks started the day lower and Treasury yields started the day sharply higher with yields reversing all of yesterday’s decline and then some in premarket trading. Initial unemployment claims rose +5k last week to +213k claims. State claims fell -22k to 1.379 million. The U.S. Leading Index fell -0.3% in August. Stocks closed sharply lower … Read more

Market Brief – Wednesday 9/21/22

Stocks started the day a bit higher, and Treasury yields a bit lower ahead of today’s FOMC rate announcement. Mortgage applications rose +3.8% last week as purchase applications rose slightly and refinance applications rose. Existing home sales fell -0.4% in August to 4.80 million homes sold. The Department of Energy reported crude oil inventories as … Read more

Market Brief – Tuesday 9/20/22

Stocks started the day lower, and Treasury yields much higher as more rate hikes are sending global interest rates higher. Building permits collapsed -10.0% in August to 1.517 million permits. Housing starts rose +12.2% in August to 1.575 million starts. Today’s $12 billion 20-year Treasury Bond auction was met with strong demand as foreign bidders … Read more

Market Brief – Monday 9/19/22

Stocks fell in overnight trading and Treasury yields rose slightly in overnight trading. The National Association of Homebuilders Index fell from 49 to 46 in September, indicating a negative outlook on new home sales. Stocks rallied to close higher on the day while Treasury yields closed a bit lower on the day.