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
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
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
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
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.
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
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
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
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
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