It’s not for a lack of effort, but the S&P 500 has only been up on 1 of the 9 FOMC days during Powell’s rein over the Committee. Initially, and traditionally some might say, the market responded positively to the sharply dovish move announced by the FOMC on Wednesday…then it completely reversed course and the…
It’s that time again, FOMC rate hike announcement day. While there is almost no probability of a rate hike today, the more consequential press conference and dot plot will likely sway investors’ sentiment. With Jerome Powell at the helm of the FOMC and having chaired the committee of Federal Reserve Presidents over the last 8…
The two biggest stories from Tuesday’s market trading came from the late afternoon Brexit vote, which failed to pass, and Netflix (NFLIX) choosing to raise prices. The bill was rejected by 432 votes to 202. The 230-vote defeat is thought to be the largest in U.K. political history. Following a controversial amendment, the U.K. government…
Since the FOMC’s September meeting and when it stated that it was “a long ways away from the neutral rate”, the market has been in a state of turmoil. The S&P 500 has fallen by some 12%+ since that time, taking out the February lows. Market volatility has remained elevated over this period of time.…
It’s not often that the market allows you to hedge before a significant daily move, but that’s exactly what happened on Monday with the market opening flat to higher and before reversing course. In Finom Group’s weekly research report, we mentioned our desire to hedge against a probable move lower for the current reason, mainly…
Midweek, the markets took a turn for the worse in what is rapidly correlating to the spookiest month of the year, October. Despite the strong gains on Friday, the Dow (DJIA) and S&P 500 (SPX) finished the week down by more than 4%, while the Nasdaq (NDX) posted a 3.7% weekly loss. The steep losses…...
At some point, and we don’t know when, the geopolitical risks will weigh more heavily on investor sentiment than they seem to be weighing at present. But until that point… It was the press conference that was heard around the world yesterday between President Donald Trump and Vladimer Putin. The conference has drawn criticism from…
We have a busy reporting week, with more than 170 companies coming out with quarterly results, including 60 S&P 500 companies. The following graphic identifies some of the key reports due out this week by date. Stocks posted strong gains last week, with the Dow, S&P 500 and Nasdaq all rising more than 1.5…
Last week, the Q2 2018 reporting cycle kicked-off with some of the big banks reporting quarterly results. JP Morgan Chase (JPM), Wells Fargo (WFC) and PNC Financial reported results. JP Morgan’s report was quite strong, but failed to find the stock gain any traction with the entire sector falling once again. We now have Q2 results from 4…...
