fbpx

Market Brief – Friday 9/9/22

Stocks zipped higher in overnight trading as global investors celebrated the ECB raising policy rates. Treasury yields fell in overnight trading. Stocks rallied in early trading as investors are breathing a sigh of relief. After a quick move higher, Treasury yields were falling in early trading. Wholesale inventories rose +0.6% and wholesale trade sales fell … Read more

Market Brief – Thursday 9/8/22

Stocks fell and Treasury yields rose following a 75-bps hike by the European Central Bank and Fed Chair Powell’s interview at the Cato Institute this morning. Initial claims fell -6k last week to 222k as initial unemployment claims continue to fall. State continuing claims rose +36k last week to 1.473 million as unemployed workers are … Read more

Market Brief – Wednesday 9/7/22

Stocks started the day slightly lower, and Treasury yields a bit lower. Stocks rallied in early trading while Treasury yields were holding their overnight decline in early trading. Mortgage applications fell -0.8% last week as both purchase and refinance applications declined. Exports fell slightly to $259.30 billion, and imports fell to $329.90 billion in July, … Read more

Market Brief – Tuesday 9/6/22

Stocks zipped higher over the holiday weekend as investors once again were optimistic about the economy. Treasury yields continued to move higher as long-bond yields were back to their 1-year highs. Stocks fell and Treasury yields rose in early trading. The S&P Global U.S. Services PMI fell deeper into contraction with 43.7 for August, down … Read more

Market Brief – Friday 9/2/22

Stocks started the day higher and Treasury yields started the day unchanged following the August Nonfarm Payroll report release during premarket trading. Nonfarm payrolls beat expectations in August with +315k jobs created. Average hourly earnings rose +0.3% in August and +5.2% from this time last year. Average weekly hours worked dipped slightly to 34.5 hours. … Read more

Market Brief – Thursday 9/1/22

Stocks fell in overnight trading and Treasury yields were slammed higher again as the relentless bid to drive rates higher continues. Initial jobless claims fell -5k last week to 232k as the trend in initial claims continues to fall. Total claims fell -10.4k to 1.438 million. The S&P Global Manufacturing PMI rose slightly in August … Read more

Market Brief – Wednesday 8/31/22

Stocks rose in overnight trading while Treasury yields were a bit higher in overnight trading after European rates screamed higher last night. Mortgage applications fell -3.6% last week as both purchase and refinance applications continue to fall. The ADP Nonfarm Employment Change missed analyst expectations with a lower-than-expected increase of +132k for June. The Department … Read more

Market Brief – Tuesday 8/30/22

Stocks started the day higher and Treasury yields started the day slightly higher. Home prices rose +0.1% in June and slowed to +16.2% from this time last year. The S&P/CS HIS Composite 20 home price index rose +0.4% in June and slowed to +18.6% from this time last year. The Conference Board’s Consumer Confidence survey … Read more

Market Brief – Monday 8/29/22

Stocks started the day lower as Fed Chair Powell’s aggressive tone on Friday continued to weigh on global equity prices. Treasury yields also started the day higher as 2-year Treasury yields rose to one of their highest levels since 2007. Stocks ended the day lower and Treasury yields closed out the day higher.

Market Brief – Thursday 8/25/22

Stocks rose in overnight trading as investors remain optimistic about the second half of the year while Treasury yields fell slightly in overnight trading. Initial unemployment claims fell -2k last week to 243k. Total claims fell -32.9k to 1.448 million. Today’s $37 billion 7-year Treasury Note auction was met with strong demand as foreign bidders … Read more