Posts by Mike Verity

Major stock market indices fell this morning in reaction to weaker economic data. The Dow is currently off 290 points and the S&P 500 is down 1.1%. Over the last week the VIX—a measure of fear among traders—has run from about 14 to 18.6. Remember, we’re in the middle of a seasonally weak period. And…

Stocks faltered this morning (Dow -160 points; SPX -1%) following yesterday’s Fed announcement. Commodities are mostly lower as well on a stronger dollar. The bond market is selling off. I see two main reasons. First, as Ritholtz Wealth CEO Josh Brown says, “We all have to be OK with, we had a great first half…

The Dow, S&P 500 and Nasdaq all opened sharply higher this morning on what Bloomberg News calls “soft landing bets.” All eleven major market sectors are in the green. Most commodities are trading higher despite a stronger dollar. Bonds are selling off, however, as interest rate expectations rise. The narrative goes like this: recent data…

Bank of America’s Liz Krisberg shared some thoughts on consumer spending in a recent CNBC interview. Her bottom line: spending may be moderating, but remains stable and positive. It is true that consumers are spending more on necessities, primarily because gasoline prices are rising again. This trend may continue to crowd out some discretionary spending…

Stocks dropped this morning following release of some pretty encouraging economic data. Currently, the Dow is down 264 points and the S&P 500 is off by 1%. This is also causing the dollar to appreciate vs. foreign currencies, resulting in lower commodity prices. WTI crude oil is flat this morning, but gold, silver, iron ore…

Stocks opened modestly higher this morning (Dow +160 pts; SPX +.3%). Commodities aren’t moving much, and the bond market is trying to rally after a two-week decline. All in all, this is a pretty muted reaction to the Federal Reserve’s much-anticipated Jackson Hole meeting. Fed officials kicked off their annual conference in Jackson Hole today…

The Dow, S&P 500 and Nasdaq opened lower again this morning, bringing month-to-date declines to about -4%. Wall Street analysts have characterized August trade action as “sloppiness” or “doldrums,” or just typical “seasonal” weakness. It’s not so much that traders are selling, but rather that they’re not buying. Plenty of solid stocks are pulling back…

Stocks opened modestly lower this morning (Dow -190 points; SPX -.3%). Once again, there are no signs of panic, but August is typically a sleepy month. And traders’ current obsession—what Fed Chair Powell will say in his Jackson Hole speech—won’t play out until Friday. We’re more focused on the bond market, which continues to sell…

Stock market indexes are waffling without conviction this morning. With earnings season nearly finished and key inflation reports in the rear-view mirror, we’re sort of in no-man’s-land waiting for a catalyst to either resume the rally or confirm a correction. As always, traders are wary of what the Fed may do next. Bonds are selling…