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(Wednesday market open) Stocks continue treading water near recent nine-month highs ahead of next week’s Federal Reserve meeting. It’s a quiet period with little economic data or earnings to propel things in any given direction. Major indexes recently bumped against areas of...

You navigate with your eyes. You use your hands to touch things, and your voice to dictate. You see your world and everything in it. Experiences take place in real time, right in front of your eyes. In the ad for their new augmented reality goggles, Apple (NASDAQ: AAPL) describes these abilities as...

Bitcoin futures suffered a -6% drop yesterday after the Securities and Exchange Commission sued the crypto exchange Binance and its billionaire founder Changpeng Zhao. The SEC filed 13 charges, alleging Zhao and Binance comingled billions of dollars of user funds and then transferred them to...

(Tuesday market open) Wall Street’s summer doldrums started early this year. It’s only the beginning of June but it feels like the market is already on summer vacation after all the excitement of recent weeks. Major indexes are also bumping up against old resistance levels on the...

(Monday market open) With the drama of earnings season, the debt ceiling battle, and last Friday’s crucial jobs report in the rear-view mirror, Wall Street enters the week seeking new catalysts. Major indexes posted new 2023 highs Friday following the May jobs data, but much of this year...

We begin the week with the focus on crude oil: the WTI contract traded to $75 overnight in reaction to Saudi Arabia’s decision to cut production unilaterally by 1mbpd in July. This comes with the 2-year at 4.5% to begin the week as the U.S. Treasury now has the green light to issue an...

Equity markets are higher so far during the holiday-shortened week, even though labor market data showed a robust ADP private sector job report and another low jobless claims print. Overall, markets seem pleased that unit labor costs remain well-anchored for now and that the FOMC is likely to hold...

(Friday market open) The debt ceiling fight is over and May jobs data are in. The U.S. economy created a massive 339,000 jobs last month as the labor market showed no signs of slowing down.  More on the jobs report below, but first the market breathed a sigh of relief and stock index...

Copper futures are in an interesting situation this morning, as the /HG contract finds itself breaking above a downward sloping trendline beginning with the highs from Apr. 14. This slide took the /HG contract down more than -12% as of yesterday’s close, but it bottomed out near the old lows...

(Thursday market open) The new month begins with stocks on the rise after the United States edged one step closer to moving past the debt ceiling debate. Last night, the House of Representatives passed a bill to raise the debt ceiling by a strong bipartisan vote of 314–117. The...

(Wednesday market open) As Congress gathers to vote on a debt ceiling bill, the market’s focus turned overseas this morning to cooler-than-expected data from China and Europe. Stocks came under pressure but the dollar rose and crude oil plunged. Inflation data from France and parts...

I don’t think people quite appreciate how insane things are getting. Nvidia (NASDAQ: NVDA) is one thing – Jensen Huang has always been an incredible showman, the numbers are good, and the company has been steamrolling the sector for a decade. Fine. How about Broadcom (NASDAQ: AVGO)? We...

Despite Washington, D.C. dabbling with possible default, stocks spent much of May dressed in green for the season. Resilience was the theme, though the rally mainly reflected a few mega-cap tech stocks scampering ahead, while most of the market jogged in place. The challenge in June—assuming...

A busy week ahead for traders and investors with focus on progress in debt ceiling negotiations, earnings, and economic data. Over the weekend, President Biden and House Speaker Kevin McCarthy announced they’ve come to a deal just six days ahead of the June deadline set forth by Treasury...

(Tuesday market open) Stocks continued their winning ways early Tuesday, and Treasury yields dropped sharply after President Joe Biden and House Speaker Kevin McCarthy reached a debt ceiling deal over the weekend. Now it’s up to Congress. A deal is a first step, and we may not know...