Well…Fed Chairman Jerome Powell held his first testimony on Capital Hill yesterday and it didn’t take market participants long to key in on the possibility of the Fed raising rates more than the anticipated 3 times in 2018. Prior to his testimony, prepared remarks were publicly released. The most balanced of the remarks was as…
It all begins today with Federal Reserve Chairman Jerome Powell’s first day of testimony in front of lawmakers. His prepared remarks to the House Financial Services panel will be released at 8:30 a.m. Eastern Time, followed by his testimony that will begin at 10 a.m. Eastern. It’s a foregone conclusion that the testimony on Capital…
Despite the recent level setting of market expectations and more recent equilibrium found in the major indices, I wouldn’t sound the “all clear” bells just yet. After bouncing off of key levels during the greater than 10% market correction, all 3 major averages finished higher last week. Recent market whipsawing has caused highly elevated levels…
Despite the recent level setting of market expectations and more recent equilibrium found in the major indices, I wouldn’t sound the “all clear” bells just yet. After bouncing off of key levels during the greater than 10% market correction, all 3 major averages finished higher last week. The Dow rose 0.4% over the week while…...
With Asian equity markets finishing nicely in the green overnight, European markets aren’t following suit as of yet. Nonetheless, U.S. equity futures are largely higher, but anything can happen between now and 9:30 a.m. EST when Wall Street opens for trading. That has been the trend, the unpredictability of the market, which has been on…
If you’re not enjoying the market’s roller coaster ride in February, you’re likely not alone with that sentiment. Yesterday proved to be another wild day for the markets with the Fed minutes coming forward at 2:00, spurring equity prices in both directions. In the Fed minutes from January 2017, there was much to be extrapolated.…
Equity Futures in the U.S. are once again lower after recapturing nearly 5% of its rapid 10% correction. Asian markets finished sharply higher overnight, but European equities are not following suit as the DAX, FTSE and CAC are all lower this morning. And this, for U.S. investors, comes ahead of the all-important Fed minutes to…
After an outside reversal trading day last Friday that found the Nasdaq going from up 1% to negative .23% and the Dow and S&P 500 basically flat for the day, index futures are in the red and following the lead of Asian markets. Friday’s late day reversal came on the announcement from the Robert Mueller…
Well, the economic data released today was anything but favorable and yet the market, for now, is seemingly shrugging off the data. Everyone was waiting with bated breadth for the inflationary data coming into today’s market trade, hoping for a benign reading. But what they got was worse than expected in the way of CPI.…
Can U.S. equities stay on track with a 4th consecutive day of gains and after a severe correction? While the magnitude of the correction was an average 12% for the Dow Industrial Average and S&P 500, how quickly it achieved correction territory and with such extreme volatility found itself with great fear in the market…
