Posts by Mike Verity

Stocks opened higher this morning but quickly faded, mirroring Nvidia (NVDA). With a roughly 15% total return through the first half of 2024, the S&P 500 is now in a holding pattern looking for direction. BMO’s Brian Belski believes the market is due for a correction in the near-term, but will probably be higher by…

Stocks opened mixed this morning (Dow +50 pts; SPX flat), and really haven’t moved much over the past couple of weeks. The rally is taking a breather for two reasons: weaker economic data and a pullback for Nvidia (NVDA). That said, market volatility is sort of muted and fear among traders—as measured by the VIX…

The S&P 500 has climbed to fresh highs in recent days, driven primarily by AI-fueled tech stocks. Other stock indexes like the Dow and Russell 2000 haven’t been quite as strong. Still, the market has enjoyed a nice bounce from April’s little 5% correction. Even bonds have been in rally mode since the beginning of…

Stocks opened higher this morning, extending a week-long rally. The Dow is up 220 points and the S&P 500 is up .4%. Commodities are trading higher as well, partly because the dollar is a little weaker. WTI crude oil is holding above $79/barrel, and gold is up another 1% (now almost 13% year-to-date). The bond…

Stocks opened higher this morning, reversing recent trend. The Dow is up 197 points and the S&P 500 is up 1.1%. Tech stocks are especially hot in the wake of earnings announcements by Alphabet (GOOGL) and Microsoft (MSFT). Bonds are in rally mode as well. One of the most widely held, diversified funds—iShares Core US…

April has been tough for stocks and bonds. The S&P 500, Dow and Nasdaq are off by about 4%. High-grade corporate bond prices have fallen about 3.5% while long-term Treasury bonds are down 7% this month. Coming on the heels of a strong 5-month rally, does this signal an end to the party? The trouble…

Stocks opened mixed today with little direction. Traders are mostly reacting to individual corporate earnings announcements (see below). Near-term sentiment remains cautious due to rising interest rates and a widespread feeling that the market is due for a correction. The VIX fear index ticked up to 19 yesterday for the first time since October. Bonds…

Stocks opened lower again this morning, and the S&P 500 is down about 2.5% so far this month. The Dow is off by about 4.7%. Momentum is clearly fading after an incredibly strong run since Halloween. Kevin Simpson, founder of Capital Wealth Planning, said on CNBC this morning that “you don’t get periods like this…

Investors were surprised earlier this week by a report which showed inflation accelerated more than expected last month. The Consumer Price Index (CPI) ticked up .4% from February levels primarily due to higher gasoline and shelter costs. In addition, we’re seeing persistent inflation in some services like elder care, auto insurance & repair, and transportation.…