Posts by Mike Verity

The big debate on Wall Street this week is whether the Trump rally is played out. From November 4th through Monday the 11th, the S&P 500 surged 5% and the Dow rallied 6%. Since then both indexes are down a bit. As Nelson Peltz, billionaire & famous investor, puts it, “Trees don’t grow to the…

Stocks closed sharply higher today despite much election hand-wringing in the media. The Dow, S&P 500 and Nasdaq all closed up over 1%. Commodities were broadly higher as well. On the other hand, the bond market mostly sold off. Of late, longer-term bond yields have drifted higher in acknowledgment of stronger economic growth. Or maybe,…

Earnings season is under way, with the big banks batting lead-off. JP Morgan Chase (JPM) reported slightly positive revenue and profit growth, but that was good enough to beat Wall Street analysts’ expectations. Skipping right to the highlights, net interest income—interest collected on loans minus interest paid on deposits—climbed 3% from the year-ago quarter, and…

Stocks gapped down at the open, but quickly recovered. The Dow is currently down 80 points and the S&P 500 is off .17%. A couple of down-and-out sectors (materials, energy) are in the green, suggesting a continued broadening of the rally outside of ”Magnificent 7” stocks. The bond market has been mixed recently. Short-term bonds…

Stocks opened higher this morning in reaction to a better than expected jobs report. Currently, the Dow is up 160 points and the S&P 500 is up .5%. Gold is trading modestly lower. WTI crude, which has been a downtrend for much of the year, climbed above $74/barrel. Bonds are selling off across the board,…

Stocks are modestly higher this morning (Dow +36 points; S&P 500 +.2%; Nasdaq +.5%). Whereas many traders said the Fed rate cut would be a “sell the news” event, the opposite has been true. Since that announcement the S&P is up 1.7%. Bank of America says last week’s equity market inflows ranked third in the…

The S&P 500 and Dow rallied to all-time highs this morning in response to yesterday’s interest rate cut by the Federal Reserve. (see below). Several sectors are up more than 1% in early trading, including consumer discretionary, energy, industrials, technology, communications and materials. The bond market is mixed, with short-term issues rallying but long-term bonds…

Stocks sank at the open but quickly turned around. Currently, the Dow is down 170 points and the S&P is down .2%. Bonds are broadly, if slightly, lower. Commodities are at last catching a bid. After falling below $66/barrel yesterday, oil is rebounding 3%. The yield curve has just dis-inverted. That means that for the…