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Market Brief – Tuesday 6/30/20

Investors were slamming the buy button in early trading as they chased stock prices higher in early trading. Treasury yields fell in overnight trading but were rising in early trading against a strong bid in the equity market. Redbook same-store weekly retail sales are failing to confirm the recent advanced retail sales report as same-store … Read more

Market Brief – Monday 6/29/20

Stocks headed higher in early trading following a better-than-expected pending home sales report and reports the number of new Coronavirus cases is slowing. Treasury yields were up slightly in early trading. Pending home sales shot up +44.3% in May but were down -10.4% from this time last year. On a year-over-year basis, pending home sales … Read more

Market Brief – Friday 6/26/20

Treasury yields led stocks lower in overnight and early trading as 30-year Treasury yields broke through a key support level at 1.4%. Personal Consumption Expenditures (PCE), the value of goods and services purchased by or on behalf of U.S. residents, also known as the Fed’s preferred inflation gauge, rose +0.1% in May and slowed to … Read more

Market Brief – Thursday 6/25/20

Stocks were down slightly in overnight trading and directionless in early trading as unemployment claims refuse to fall. Treasury yields fell in overnight trading and were holding their overnight drop in early trading. Initial jobless claims missed expectations by coming in at 1.480 million new claims, which brought the four-week average for jobless claims down … Read more

Market Brief – Wednesday 6/24/20

Stocks and Treasury yields were falling in early trading after news broke that the U.S. is planning to tariff $3.1 billion of European goods in a retaliatory victory approved by the World Trade Organization due to the European Union illegally subsidizing Airbus. Stocks and yields further fell on rising case counts in California and Texas. … Read more

Market Brief – Tuesday 6/23/20

Stocks fell in overnight trading after Peter Navarro said the trade deal was dead. Stocks immediately rebounded when President Trump tweeted the trade deal was still intact, even though China has not honored any of its commitments. Stocks held their overnight trade-deal optimism despite weak preliminary manufacturing and services PMI reports from Australia, Japan, and … Read more

Market Brief – Monday 6/22/20

Stocks started the week flat and were struggling to find traction while Treasury yields started the week lower. Estimates show there will be a large quarter-end selling of equities as pension funds and asset allocated portfolios sell stocks to buy bonds. The Chicago Fed National Activity Index rose to +2.61 in May, the highest level … Read more

Market Brief – Friday 6/19/20

Stocks and Treasury yields were flat in overnight trading but moved higher in pre-market trading after an unconfirmed report that China was going to start making good on its Phase 1 trade deal commitments, which it has not. Without any economic news on the docket, today to drive stock prices, stocks and Treasury yields were … Read more

Market Brief – Thursday 6/18/20

Stocks opened the day flat as tomorrow’s huge options expiration day will likely limit the movement of stock prices today as large traders will likely put a floor on stock prices to cash in on their speculative options contracts. Diverging from stocks, Treasury yields fell in overnight trading and held their overnight losses in early … Read more

Market Brief – Wednesday 6/17/20

Stocks started the day slightly higher and Treasury yields were flat as investors looked for a rebound in the housing market along with large crude oil draws. Despite being disappointed on both fronts, stocks were down slightly and Treasury yields were up slightly in early trading. Mortgage applications rose +8.0% from last week as demand … Read more