Posts by Mike Verity

Stocks rebounded this morning, following yesterday’s big intraday reversal (see below). At the moment, the Dow is up 75 points, the S&P 500 is up .5% and the Nasdaq is up .9%. The bond market is also trading broadly higher today with the exception of long-term Treasuries. Corporate bonds are leading the charge, up between…

Stocks rallied hard today in the wake of an inflation report as well a couple of earnings announcements. I’ll address these two catalysts below. The Dow is up over 600 pts, the S&P 500 is up 1.5% and the Nasdaq is up 2% at the moment. Bond are rallying as well, with intermediate corporates up…

Major stock market indices fell today (Dow -696 pts; SPX -1.5%; Nasdaq -1.6%) and are broadly lower in the new year. The VIX Index, commonly seen as fear gauge for traders, rose to nearly 20. Gold surged about 1% today. But before you assume this was a conventional risk-off session, know that the bond market…

Looking back over the past year, we’re gratified by all that has been accomplished. In the brilliant success of the economy & capital markets, it’s hard not to sense a sort of cooperation between Corporate America, Wall Street (investors), Main Street (consumers), and the Federal Reserve. Everything seemed to hold together despite a presidential election…

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…