Small Business Sentiment Cools as Inflation Worries Climb
NFIB’s Small Business Optimism Index slipped to a three-month low as fewer expect conditions to improve.
Bad Markets Don’t Scare You Out, They Wear You Out
New lows hit 400 again while the mega caps keep the indices afloat.
How to Allocate a Safe Portfolio as Indices Mask Broad Weakness
Passive investors continue to be too complacent about economic and geopolitical risks.
Bottoming Action Hits Ahead of Earnings Season
Biotech and other beaten-down groups bounced as the market heads into bank earnings.
Consumers’ View of Economic Conditions Hits All-Time Low
Sentiment slips to just 1.5 points above its all-time low with current conditions at a record while inflation expectations rise.
OpenAI Revenue Warning Triggers Sharp Rotation Action
A report that OpenAI’s revenue is lower than expected hit AI leaders, and the rest of the market caught a bid.
Initial Jobless Claims’ Streak Hits First Since 1969
An average of initial claims fell to its lowest since September 2022 and one for continuing claims fell to its lowest since April 2023.
New All-Time Highs for Indices Were a Bull Trap
Breadth collapses, new lows swamp new highs and the Russell 2000 sits on its 200-day average.
Rising Rates, Record Diesel Prices Make a Toxic Brew
There are two major risks that investors seem more than happy to underweigh.
Consumer Inflation Expectations Jump to 3-Year High
One-year inflation expectations came in at the highest since May 2023 in the NY Fed’s consumer survey, but spending growth the highest since May 2023.