Is it the Fed? Is it China’s bear market? Is it Italian sovereign debt? Take your pick, but it is probably none of the above or all of the above that sent U.S. equities reeling on Thursday. China’s stock market plunged deeper into bear market territory overnight on Thursday, which found European equities under pressure.…
There was nothing in the FOMC minutes, which were released at 2:00 p.m. Wednesday, that wasn’t already a known to investors and analysts alike. The greatest takeaway from the minutes is that the Fed is continuing on their path of gradual interest rate hikes and believes the economy is healthy/growing. A summary of the Sept.…
After losing 1,400 points on the Dow last week, I’m sure there’s a sense of relief on Wall Street given the tremendous rally Tuesday. Now, if only the major averages can find some semblance of a follow through on Wednesday, investors might be able to avoid the dreaded “double dip”. On Tuesday, the major averages…
It didn’t seem to affect the markets all that much yesterday, but it is certainly getting all the attention in the last 12 hours or so. Tuesday morning on CNBC, Jim Cramer discussed conversations that he was having with corporate CEO’s about the probability of slowing earnings growth. “There are many parts of the economy…
If you thought you were getting off the rollercoaster ride that is the stock market on Monday, think again. The major averages witnessed significant selling pressure throughout the morning on Monday, with the Dow down roughly 250 points at its low. But all 3 major averages staged a dramatic turnaround in the afternoon with the…
Did we tell ya or did we tell ya? With bond yields rising as sharply as they have since the Fed rate hike and as much as they did on Wednesday, it would prove an impossibility for perma bears, market pundits, analysts with a negative view of the market and/or economy and the media to…
Wall Street is waking up to equity futures and bond yields moving in opposite directions. U.S. treasuries had their largest moves on Wednesday, since June 2011. The 10-yr. Treasury yield climbed over 15 bps to 3.18% and has since moved higher on Thursday morning. It’s not that yields are rising that is causing a modest…
The Dow Jones Industrial Average hit another fresh record high on Tuesday as it closed 122.73 points higher to 26,773.94. But as the continuation of sector rotation continues in the markets, the S&P 500 closed flat at 2,923.43 while the Nasdaq Composite fell half a percent to 7,999.55 and with the tech sector underperforming once again. With at least one…
Ahead of the rate hike announcement that was delivered Wednesday afternoon, Finom Group had anticipated and forecasted the post announcement move to our subscribers, as shown in the following screen shot from our private Twitter feed. After the end of a two-day meeting, the Fed increased its target for its benchmark-lending rate to a range…
It’s not quite Monday Night Football, but Fed Chairman Jerome Powell’s press conference will prove to be “must see T.V.” shortly after the FOMC delivers a .25 bps rate hike today at 2:00 p.m. Easter Standard Time. The rate hike is not in question, but rather how the FOMC has parsed out its mandates on…
