It was a banner day for the S&P 500 (SPX) on Wednesday with Fed chairman Jerome Powell serving up the FOMC’s monetary policy testimony before a Congressional Committee. At 8:30 a.m. EST. The S&P 500 E-mini futures achieved and broke through the 3,000 level. When the Semiannual Monetary Policy Report to the Congress was publicly…
On Tuesday, the major averages started the day in the red and rallied higher throughout the trading session. The uncertainty that resounded ahead of Jerome Powell’s testimony before congress seemed to fade as yields and crude oil both rose on the day. The Dow Jones Industrial Average (DJIA) fell 22.65 points, or 0.1%, to end at…
With each passing day we edge closer to the all-important earnings season, the markets extraordinary rally comes into question and as earnings are expected to decline for the Q2 2019 period. A market retracement has been eyed, forecasted and rationalized based on the aforementioned and is seemingly in the works as the major averages fell…
Welcome to this week’s State of the Market. Please click the following link to review the SOTM video . With the S&P 500 near all-time highs in early July 2019, earnings season lay just ahead with an emphasis of the FOMC supporting forward looking price-to-earnings multiples. We aim to share with you our thoughts on why the market…
On Tuesday, the markets picked up where they left off in most every asset class but energy, as crude prices tumbled Tuesday to finish the session below $57 a barrel. The roughly 4% drop came on the heels of an announced OPEC supply cut extension, but may have already been baked into the price per…
There’s no secret as to what proved to move markets Monday as we continue through this holiday shortened trading week, U.S./China trade truce. But for those who don’t study the S&P 500 risk-pricing through the options market, they may have missed the reasons for the peak and valley action expressed Monday. In Finom Group’s weekly…
Where U.S. Treasury Secretary Steve Mnuchin left positive comments on the U.S./China trade feud Wednesday, China picked up the ball and ran with it. With the U.S. President in travels to Osaka, Japan for the G-20 Summit meeting that kicks off on Friday, the South China Morning Post reported that the U.S. and China have…
With the G-20 Summit still hovering above the markets and economy, UBS’ global head of economic research Arend Kapteyn suggests that the globe is “one step away” from recession. While escalation isn’t what UBS expects, a failed meeting between President Donald Trump and China’s Xi Jinping that results in a new wave of tariffs would mean “major” changes to…
U.S. equity markets were up, down and all around on Monday with only the Dow proving capable of holding any gains on the day. Commodities actually were the biggest gainers on Monday with Gold and Crude oil prices moving higher, carrying forward gains from the previous week. New sanctions from the U.S. were slapped on…
Now that the FOMC meeting is out of the way…but is it really? The event risk is clearly out of the way, but to be sure, the FOMC is more so a fundamental support mechanism of financial markets than ever before and will likely remain as such for the foreseeable future. Under this premise, investors…
