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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

Portfolio Shield – September 2022

Looking back over the last month, Portfolio Shield™ correctly identified that momentum was on the side of equities and dropped its bond hedge for August. While both stocks and bonds were down the last month, stocks were down the least. The Bear market rally that started in mid-July appears to have ended in mid-August. When … 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.