Stocks were down slightly in overnight trading and were lower in early trading. Treasury yields were flat in overnight trading and up slightly in early trading. The Chicago PMI came showed a strong expansion in the manufacturing sector in November with a 58.2 print, making November the second month in a row the Chicago PMI … Read more
Stocks rallied and Treasury yields fell in overnight trading. With an early close for the markets today, trading is expected to be light. The dollar has continued to slide as sellers bet big on a weaker dollar, which has helped stocks and crude oil but not gold, which saw heavy selling in overnight trading. Stocks … Read more
Stocks and Treasury yields were flat in overnight trading ahead of today’s economic data dump. With the stock market closed for Thanksgiving and an early close on Friday, all of this week’s economic data was scheduled to be released today. Stocks and Treasury yields were down slightly in early trading. Mortgage applications rose +3.9% last … Read more
Stocks rallied in overnight trading on news President Trump will allow Biden’s transition team to get to work and on hopes, future Treasury Secretary Yell will open the fiscal floodgates by working with the Fed. Stocks and risk assets continued their overnight rally in early trading. Treasury yields fell in overnight trading on the same … Read more
Stocks rose in overnight trading on more vaccine news but after an opening bell pop higher, sellers dominated the tape. Treasury yields rose in overnight trading and sellers continued hammering away at bond prices in early trading due to two large Treasury Note auctions today. The Chicago Fed National Activity Index rose to +0.83 in … Read more
Stocks fell slightly in early trading and were fighting to move higher in early trading but were not having much luck. Treasury yields also fell in overnight trading and were slowly moving lower in early trading. After trading sideways most of the day, stocks fell in the last hour of trading to close lower on … Read more
Stocks fell in overnight trading and investors were quick to buy the dip in early trading. Treasury yields fell in overnight trading and were holding their overnight decline in early trading. Initial jobless claims missed expectations as 742k Americans filed for unemployment benefits last week. Total unemployment claims, including all forms of pandemic assistance, fell … Read more
Stocks and Treasury yields were mostly flat in overnight trading and had not moved much in early trading. Mortgage applications fell -0.3% last week with purchase applications rising +3.5% and refinance applications falling -1.8%. Housing starts rose +4.9% and building permits were unchanged in October as homebuilders are the most optimistic they have been in … Read more
Stocks fell in overnight trading then quickly gave up yesterday’s gains before buyers bought the dip. Treasury yields also fell in overnight trading and were holding their overnight drop in early trading. Retail sales rose +0.3% in October and +5.68% from this time last year, missing expectations. Excluding food and energy, core retail sales rose … Read more
Stocks rallied in overnight trading after Moderna announced the results from its most recent vaccine trials. Stocks were below their overnight highs in early trading. Treasury yields rose on the same news but only slightly and were up a smidge more in early trading. The New York State Manufacturing Index rose slightly in November and … Read more