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Market Brief – Thursday 6/30/22

Stocks fell sharply in overnight trading and Treasury yields also declined. Initial claims fell -2k last week to +231k. Total claims rose +17.678 to 1.314 million as unemployed workers are struggling to find employment. The Personal Consumption Expenditures price index rose +0.6% in May and +6.3% from this time last year. Excluding food and energy, … Read more

Market Brief – Wednesday 6/29/22

Stocks were flat in overnight trading while Treasury yields fell slightly. Stocks rose slightly and Treasury yields slid in early trading. Mortgage applications rose +0.7% last week as purchase applications rose slightly and refinance applications rose. First quarter GDP growth fell -1.6%, the GDP Price Index rose +8.3%, GDP Sales fell -1.2%, PCE Prices rose … Read more

Market Brief – Tuesday 6/28/22

Stocks and Treasury yields rose in overnight trading as inflation continues to weigh on investors. The Goods Trade Balance or trade deficit decreased slightly in May to -$104.31 billion. Retail inventories rose +0.8% and preliminary wholesale inventories rose +2.0% in May. Home prices rose +1.6% in April and +18.8% from this time last year. The … Read more

Market Brief – Monday 6/27/22

Stocks rallied and Treasury yields rose in overnight trading as investors are highly convicted this is the early stages of the long-awaited Bear market rally. Stocks and Treasury yields fell in early trading. Durable Goods New Orders rose +0.7%, excluding food and energy, Core Durable Goods New Orders rose +0.7%, excluding defense rose +0.6%, and … Read more

Market Brief – Friday 6/24/22

Stocks rose in overnight trading as hopes for a Bear market rally pull money into the markets. Treasury yields rose in overnight trading as fears of inflation pushed yields higher. Stocks were rallying in early trading and Treasury yields were headed lower in early trading. The University of Michigan’s Consumer Sentiment survey showed sentiment declined … Read more

Market Brief – Thursday 6/23/22

Stocks jumped in overnight trading to reverse most of yesterday’s late-day selloff. Treasury yields were slightly lower in overnight trading. Initial unemployment claims fell -2k to 229k last week while total claims rose +14.5k to 1.296 million. The Markit preliminary Manufacturing PMI missed expectations with a 52.4 in June, down from 57.0 last month. The … Read more

Market Brief – Wednesday 6/22/22

Stocks and Treasury yields fell in overnight trading. Stocks rallied in early trading while Treasury yields were holding their overnight decline. Mortgage applications rose +4.2% last week as purchase applications rose and refinance applications fell. Today’s $14 billion 20-year Treasury Bond auction was met with decent demand as foreign bidders took 67.4% of the auction … Read more

Market Brief – Tuesday 6/21/22

Stocks rallied in overnight trading as investors continue to bet on a big Bear market rally. Treasury yields also rose in overnight trading. The Chicago Fed National Activity Index was +0.01 in May, indicating the economy is growing on trend, down from +0.40 in April. Existing home sales fell -3.4% in May to 5.41 million … Read more

Market Brief – Friday 6/17/22

Stocks rose and Treasury yields fell in overnight trading as investors continue to buy every dip hoping a big Bear market rally will soon start. Stocks and Treasury yields rose in early trading. Industrial production rose +0.2% in May and slowed to +5.83% from this time last year. Manufacturing production fell -0.1% and Capacity Utilization … Read more

Market Brief – Thursday 6/16/22

Stocks started the day lower and Treasury yields started the day higher after the Swiss National Bank raised rates by 50 bps unexpectedly and put investors on notice it may need to start selling its large holding of stocks. Initial unemployment claims fell -3k to 232k last week. Total claims fell -1.4k to 1.282 million. … Read more