Morning Market Brief — Friday 9/7/18

The big news was the August Nonfarm Payroll report which showed a strong headline number of +201k jobs created last month. June and July’s payroll numbers were revised down -50k, which took some shine off this month’s report. The birth-death model showed 104k jobs in August were to newly self-employed, which is a statistical number … Read more

Market Brief — Thursday 9/6/18

The growth rate of the M2 Money Supply ticked up slightly to 4.02%, which has been decelerating since 2016. Be aware, historically when then the growth rate of the money supply falls below 3.70%, our economy experiences recessions and depressions. The recent money supply data has yet to take into account last weeks balance sheet … Read more

Morning Market Brief — Thursday 9/6/18

Emerging Markets have officially entered a Bear market as the largest Emerging Markets ETF (symbol: EEM) is now down 20% from its peak earlier this year. Emerging markets are a proxy for market liquidity, so as emerging markets stocks fall, so should U.S. stocks. Factory orders slid 0.8% month-over-month, which isn’t a big concern as … Read more

Market Brief — Wednesday 9/5/18

After the NYSE “glitch” was resolved, buyers came back into the market to push prices back up. By the end of the trading day, all major indices were in the red except the DJIA. Treasury yields were flat on the day as sellers cannot seem to push yields much higher. I remain impressed that the … Read more

Morning Market Brief — Wednesday 9/5/18

U.S. equities started the day down and continued to move down as social media companies are testifying to Congress today. But the dip in the stock market was largely blamed on a technical issue at the New York Stock Exchange, that once resolved saw buyers coming back into the market. In overnight trading, both Asian … Read more

Market Brief — Tuesday 9/4/18

While the stock market seems to be immune to the Fed’s Quantitative Tightening, foreign stock markets are feeling the dollar liquidity drain. After rising into the holiday weekend, U.S. equities were down slightly, but the bigger news was in the bond market. Speculators who have been betting against the Treasury market since February are losing … Read more