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Market Brief – Monday 7/31/20

Stocks rallied in overnight trading after tech earnings blew out analyst’s expectations sending stocks higher. The overnight rallied quickly faded in early trading as sellers dominated the tape. Treasury yields fell slightly in overnight trading but rose in pre-market trading, only to fall right on the minute of today’s Quantitative Easing purchase. Personal Consumption Expenditures … Read more

Market Brief – Thursday 7/30/20

Stocks fell in overnight trading after reports of rising case counts in Asia and after a worse-than-expected second-quarter GDP print for Germany. Treasury yields crumbled on the news and are threatening to break a critical technical support level that if broken would have yields quickly revisiting their all-time lows. Initial jobless claims beat expectations with … Read more

Market Brief – Wednesday 7/29/20

Stocks nudged higher in overnight trading and rose in early trading as equity investors hope for more candy from today’s FOMC press conference to support their risk-taking decisions. Treasury yields were flat in overnight trading and without a QE auction scheduled for today, may see sellers attempt to push yields higher in late trading. Mortgage … Read more

Market Brief – Tuesday 7/28/20

Stocks started the day higher and Treasury yields lower as investors on both sides of the market are hoping tomorrow’s FOMC press conference will be favorable for their positions. Redbook same-store weekly retail sales rose +1.1% last week but dipped further into contraction at -8.7% from this time last year. The Conference Board Consumer Confidence … Read more

Market Brief – Monday 7/27/20

Stocks rose in early trading as investors remain hopeful for another round of stimulus and hopeful for a vaccine. Treasury yields bucked the equity market’s optimism as Treasury yields were lower in early trading. Durable goods orders rose +7.3% in June but remain negative at -10.8% from this time last year. Excluding food and energy, … Read more

Market Brief – Friday 7/24/20

Stocks started the day lower after China stocks dumped due to heightened political tensions between the U.S. and China. Treasury yields also fell in overnight trading but ran into sellers who quickly pushed back. Both stocks and yields were down in early trading. Preliminary Markit Manufacturing PMI came in at 51.3 for July, the Services … Read more

Market Brief – Thursday 7/23/20

Stocks rose in overnight trading but immediately gave back those gains in pre-market trading after the initial jobless claims came in higher than expected. Treasury yields once again fell in overnight trading and extended their drop into early trading while stocks were down slightly in early trading. Initial jobless claims missed expectations by rising 1.416 … Read more

Market Brief – Wednesday 7/22/20

Stocks were flat in overnight trading while Treasury yields rose in overnight trading. Treasury yields were trying to break a critical support level that would send 30-year Treasury yields to 1.2%. Mortgage applications rose 4.1% last week with purchase applications rose +1.8% and refinance applications rose +4.3%. Housing prices fell -0.3% in May and slowed … Read more

Market Brief – Tuesday 7/21/20

Stocks rose in overnight trading after the European Union reached an agreement for a massive $860 billion bailout after five days of discussions. Treasury yields ignored the news and were pressing lower as thirty-year Treasury yields are on a cusp of breaking lower. The Chicago Fed National Activity Index increased to 4.11 in June from … Read more

Market Brief – 7/20/20

Stocks were quiet in overnight trading but after several hopeful vaccine reports hit the wire, stocks rallied in early trading. Treasury yields fell in overnight trading but followed stocks higher on the same vaccine optimism. The Nasdaq-100 led stocks higher as investors panic bid technology stocks higher without any news driving the buying spree. Treasury … Read more