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Market Brief – Friday 9/23/22

Stocks started the day lower, and Treasury yields slightly lower as tighter global monetary policy is weighing on risk assets. The preliminary S&P Global U.S. Manufacturing PMI expanded at a slightly faster rate from 51.5 last month to 51.8 in September. The preliminary S&P Global U.S. Services PMI contracted at slower rate from 43.7 last … Read more

Market Brief – Thursday 9/22/22

Stocks started the day lower and Treasury yields started the day sharply higher with yields reversing all of yesterday’s decline and then some in premarket trading. Initial unemployment claims rose +5k last week to +213k claims. State claims fell -22k to 1.379 million. The U.S. Leading Index fell -0.3% in August. Stocks closed sharply lower … Read more

Market Brief – Wednesday 9/21/22

Stocks started the day a bit higher, and Treasury yields a bit lower ahead of today’s FOMC rate announcement. Mortgage applications rose +3.8% last week as purchase applications rose slightly and refinance applications rose. Existing home sales fell -0.4% in August to 4.80 million homes sold. The Department of Energy reported crude oil inventories as … Read more

Market Brief – Tuesday 9/20/22

Stocks started the day lower, and Treasury yields much higher as more rate hikes are sending global interest rates higher. Building permits collapsed -10.0% in August to 1.517 million permits. Housing starts rose +12.2% in August to 1.575 million starts. Today’s $12 billion 20-year Treasury Bond auction was met with strong demand as foreign bidders … Read more

Market Brief – Monday 9/19/22

Stocks fell in overnight trading and Treasury yields rose slightly in overnight trading. The National Association of Homebuilders Index fell from 49 to 46 in September, indicating a negative outlook on new home sales. Stocks rallied to close higher on the day while Treasury yields closed a bit lower on the day.

Market Brief – Friday 9/16/22

Stocks crashed and Treasury yields were slammed higher in overnight trading following FedEx’s disastrous earnings report. The University of Michigan’s preliminary Consumer Confidence Survey for September showed a slight increase in consumer sentiment, with current conditions unchanged and consumer expectations ticking higher. Inflation expectations fell and 5-year inflation expectations fell. Stocks closed lower and Treasury … Read more

Market Brief – Thursday 9/15/22

Stocks started the day lower, and Treasury yields higher following a big economic data dump. Initial unemployment claims fell -5k to 213k last week as employers are laying off fewer workers. State claims rose +2k last week to 1.403 million. Retail sales rose +0.3% in August and slowed to +9.1% from this time last year. … Read more

Market Brief – Wednesday 9/14/22

Stocks and Treasury yields started the day a bit higher as investors are hoping a big rally in stocks will erase most of yesterday’s losses. Mortgage applications fell -1.2% last week as purchase applications rose slightly and refinance applications fell slightly. The Producer Price Index fell -0.1% in August and slowed to +8.8% from this … Read more

Market Brief – Tuesday 9/13/22

Stocks rallied and Treasury yields declined in overnight trading up until the Consumer Price Index was released. Stocks plummeted and yields soared following a hotter-than-expected CPI print. The National Federation of Independent Business Small Business Optimism Index rose slightly from 89.9 in July to 91.8 in August. The Consumer Price Index rose +0.1% in August … Read more

Market Brief – Monday 9/12/22

Stocks gapped higher for a second trading day in a row as investors are betting big that the Bear market lows are in. Treasury yields dipped slightly in overnight trading. New York Fed Inflation Expectations went crashing down to their 2-year lows as one-year inflation expectations dropped from 6.2% in July to 5.7% in August … Read more