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Market Brief – Friday 8/12/22

Stocks started the day higher, and Treasury yields lower. Stocks were back in rally mode in early trading while Treasury yields were struggling to hold their overnight decline. Export prices fell -3.3% and import prices fell -1.4% in July. The preliminary University of Michigan Consumer Confidence Survey shows that sentiment rose to 55.1 in August … Read more

Market Brief – Thursday 8/11/22

Stocks continued their Bear market rally as investors shrug off any negative news and keep buying. Treasury yields started the day slightly higher. Initial jobless claims rose +14k last week to 262k. Total claims rose +9.2k to 1.478 million. The Producer Price Index rose +0.2% in July and slowed to +9.8% from this time last … Read more

Market Brief – Wednesday 8/10/22

Stocks surged higher in premarket trading following the Consumer Price Index print for July. Treasury yields initially fell following the CPI release, then rose slightly before the opening bell. Mortgage applications rose +0.2% last week as purchase applications fell and refinance applications rose. The Consumer Price Index (CPI) was unchanged in July and rose +8.5% … Read more

Market Brief – Tuesday 8/9/22

Stocks were down slightly in overnight trading while Treasury yields started the day higher. The NFIB Small Business Optimism Index rose slightly to 89.9 in July where it remains near its pandemic lows. Preliminary Nonfarm Labor Productivity fell -4.6% in the second quarter, an improvement over the first quarter’s -7.4% decline. Preliminary Unit Labor Costs … Read more

Market Brief – Monday 8/8/22

Stocks started the day higher and Treasury yields started the day lower. Stocks and bonds extended their rally in early trading. The New York Fed’s Consumer Inflation Expectations fell to 6.2% in July from 6.8% the prior month. Stocks closed a bit lower and Treasury yields closed lower on the day.

Market Brief – Friday 8/5/22

Stocks started the day sharply lower, and Treasury yields sharply higher as July’s Nonfarm Payroll report showed the economy is still running strong. Nonfarm Payrolls beat expectations in June as +528k jobs were created. Average hourly earnings rose +0.5% in June and +5.2% from this time last year. Hours worked were unchanged at 34.6. The … Read more

Market Brief – Thursday 8/4/22

Stocks were flat in overnight trading while Treasury yields rose in overnight trading after the Bank of England followed through with a 50 basis point rate hike. Challenger Job Cuts fell to 25.810k in July and slowed to +36.3% from this time last year. Initial claims rose +6k last week to 260k. Total claims fell … Read more

Market Brief – Wednesday 8/3/22

Stocks and Treasury yields rose in overnight trading as bad news is becoming good news for market participants who believe the Fed will pivot in September. Mortgage applications rose +1.2% last week as both purchase and refinance applications rose slightly. The S&P Services PMI contracted in July to 47.3 from 52.7 last month. The ISM … Read more

Market Brief – Tuesday 8/2/22

Stocks and Treasury yields started the day lower. Stocks were down a bit more and Treasury yields were a bit higher in early trading from their opening lows. The Job Openings and Labor Turnover Survey (JOLTS) missed expectations as the number of job openings in June fell to 10.698 million from 11.303 million the prior … Read more

Market Brief – Monday 8/1/22

Stocks and Treasury yields started the day slightly lower after factory survey’s from Asia to Europe are showing a slowing global economy. The S&P Manufacturing PMI slowed in July to 52.2 from 52.7 last month. The ISM Manufacturing PMI slowed slightly to 52.8 from 53.0 last month. Employment was flat, new orders contracted slightly, and … Read more