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Market Brief – Friday 5/6/22

Stocks fell and Treasury yields rose in overnight trading. Stocks dropped after the opening bell and staged a rebound in early trading. Treasury yields continue to rise as sellers keep dumping bonds. Nonfarm Payrolls rose +428k in April, beating expectations. Average hourly earnings rose +0.3% in April and slowed to +5.5% from this time last … Read more

Market Brief – Thursday 5/5/22

Stocks started the day lower and Treasury yields were slammed much higher in pre-market trading. Stocks headed lower and Treasury yields higher in early trading. Initial unemployment claims rose +19k to +200k last week. Total claims fell -35k to 1.478 million as unemployed workers show no problems getting new jobs. Nonfarm Productivity fell -7.5% and … Read more

Market Brief – Wednesday 5/4/22

Stocks started the day slightly higher and Treasury were flat in overnight trading. Stocks headed lower and Treasury yields higher in early trading. Mortgage applications rose +2.5% as purchase applications increased and refinance applications increased slightly. The ADP Nonfarm Employment Change rose +247k, missing expectations of a +395k gain. Exports rose +$12.9 billion to $241.7 … Read more

Market Brief – Tuesday 5/3/22

Stocks started the day slightly higher and Treasury yields lower after the Reserve Bank of Australia raised rates. Stocks were mixed in early trading while Treasury yields were holding their overnight decline. The Job Openings and Labor Turnover Survey (JOLTS) rose from 11.344 million last month to 11.549 million in March as employers continue to … Read more

Market Brief – Monday 5/2/22

Stocks started the day lower and Treasury yields much higher as investors continue to dump government bonds. The Markit Manufacturing PMI expanded at a slightly slower rate in April. The ISM Manufacturing PMI expanded at a slower rate, dropping from 57.1 to 55.4 in April. Prices paid and new orders expanded at a slower rate, … Read more

Market Brief – Friday 4/29/22

Stocks fell in overnight trading following several earnings misses and poor forward guidance. Treasury yields were slammed higher in overnight trading. Personal Consumption Expenditures, the Fed’s preferred inflation gauge, rose +0.9% in March and +6.6% from this time last year. Excluding food and energy, Core PCE rose +0.3% in March and +5.2% from this time … Read more

Market Brief – Thursday 4/28/22

Stocks surged in overnight trading following a huge move by Facebook following its earnings report yesterday after markets closed. Treasury yields also jumped in overnight trading. Stocks gave back a bit of their overnight gains in early trading while Treasury yields were trying to fade their overnight gains. Initial unemployment claims fell to +180k last … Read more

Market Brief – Wednesday 4/27/22

Stocks started the day slightly higher and after a brief pullback, raced higher. Treasury yields also started the day higher and rose in early trading. Mortgage applications fell -8.3% last week as both purchase and refinance applications were lower. The trade deficit surged in March by -$125.32 billion as imports continue to outpace exports. Retail … Read more

Market Brief – Tuesday 4/27/22

Stocks and Treasury yields fell in overnight trading. Stocks were headed lower in early trading and Treasury yields gave back a little of their overnight decline in early trading. Durable Goods New Orders rebounded by +0.8% in March but missed expectations. Excluding food and energy, Core Durable Goods New Orders rose +1.1%, excluding defense rose … Read more

Market Brief – Monday 4/25/22

Stocks fell in overnight trading after Chinese equities crashed. Treasury yields were also lower on the same news. Stocks and Treasury yields continued to slide in early trading. The Chicago Fed National Activity Index showed the economy expanded at a well above-trend rate for March, although a bit slower than in February. Stocks rallied to … Read more