fbpx

Market Brief – Tuesday 6/16/20

Stocks and Treasury yields rallied in overnight trading and shot higher in early trading on hopes for a $1 trillion fiscal stimulus package, a potential cure for late-stage coronavirus patients, and a better-than-expected retail sales report. Stocks and Treasury yields started to fall shortly after Fed Chair Powell began his testimony to the Senate and … Read more

Market Brief – Monday 6/15/20

Stocks fell in overnight trading after fears of a resurgence of the Coronavirus in China and an increase in cases in the United States. The economic news out of Asia did not indicate any recovery in the global economy. Treasury yields followed stocks lower in overnight trading. The New York Empire State Manufacturing Index rose … Read more

Market Brief – Friday 6/12/20

Stocks rebounded in overnight trading as investors bought the dip, but stock prices were heading lower in early trading. Treasury yields also rose in overnight trading, but like stocks, they were heading lower in early trading. Both export and import prices fell -6.0% from this time last year as the U.S. is now importing and … Read more

Market Brief – Thursday 6/11/20

In what appears to be an oddity these days, stock prices started the day lower and continued to fall in early trading. Treasury yields and crude oil also fell in overnight trading and were lower in early trading. Initial jobless claims beat expectations with 1.542 million new claims last week, which brought the four-week moving … Read more

Market Brief – Wednesday 6/10/20

Stocks started the day lower after data from China last night indicated more disinflationary trends were coming, which was validated by this morning’s Consumer Price Index report. Treasury yields also fell in overnight trading and were holding ahead of the FOMC press release. Mortgage applications shot up +9.3% last week as new applications rose +5.3% … Read more

Market Brief – Tuesday 6/9/20

Oddly, stocks started the day lower after falling in overnight trading, to give U.S. investors a rare opportunity to buy the overnight dip, which they did. Treasury yields also fell in overnight trading and were holding most of their overnight move in early trading. Redbook same-store weekly retail sales fell -3.2% from this time last … Read more

Market Brief – Monday 6/8/20

Stocks started the week higher as investors continue to bet on a rapid economic recovery despite data out of China over the weekend showing China imports and exports contracted on a year-over-year basis. Treasury yields started trading slightly higher but were falling in early trading. Today’s 3-year $44 billion Treasury Note auction was met with … Read more

Market Brief – Friday 6/5/20

Stocks and Treasury yields headed higher after a bizarre Nonfarm payroll report showed employers added jobs when most of the country was shut down. The BLS admitted to a “survey error” and changes in its reporting measures. While yields appeared to be peaking in early trading, stock investors continued to throw money at the second-most … Read more

Market Brief – Thursday 6/4/20

Stocks were mixed in early trading as they were undecided if they will go higher or lower. After holding in overnight trading, Treasury yields were once again slammed higher in the thinly traded pre-market, suggesting a computer algorithm was dumping Treasuries ahead of the cash open. Challenger announced job cuts came in at 397.016k as … Read more

Market Brief – Wednesday 6/3/20

Stocks rallied in overnight trading after China announced it would begin a Quantitative Easing program, which sent investors panicking over inflation and global government bond yields higher. Stocks and Treasury yields pressed higher as investors are daring the Fed to increase the pace of its QE program to lower Treasury yields. Mortgage applications fell -3.9% … Read more