Tech-Led Rally Lifts S&P 500 To Best Day Since Early August
Stocks and bonds rallied together Thursday after having fallen in unison the day before following a hawkish Fed decision, helped by oil prices easing back for a second day.
A Hawkish Fed Does Little To Soothe Markets
The S&P 500 falls for the 7th time in 8 sessions straining against key downside levels as a more hawkish than expected Fed does little to soften expectations for higher volatility in stock and bond markets.
Stocks See Modest Gains Ahead of the Fed
A very strong retail sales report along with easing bond yields and oil prices are giving a modest lift to stocks as they await a pivotal FOMC decision.
Equities Remain Under Pressure As 10-Year Yield Hits 19-Year High
A bounce in AI names is helping offset pressure from a continued rise in bond yields and oil prices.
Equity Slide Resumes, Pressured by AI Concerns and Oil Prices
With an already “fragile” setup, equities are starting the week on the wrong foot.
Is the ‘House’ on Solid Ground?
I saw a bit of myself in Sec. Scott Bessent’s ‘I am the house’ talk, and I didn’t like it. Let’s look a the yen, trade war with Canada, out of control AI.
The Post-Earnings ‘Lull’ Continues
End of day rundown of all that you should know for September 8th.
That’s a Wrap!
Equities sold off to varying degrees on Tuesday to get a holiday-shortened a week off to a sloppy start. Throughout the day, there were reports of fighting in and around Iran’s Kharg Island. That forced oil prices higher. Front-month WTI Crude futures climbed in value for a sixth consecutive day. I now see the sweet stuff trading close to $94 per barrel. The S&P 500 gave up 0.58%, while the Nasdaq Composite surrendered 0.32% as both major U.S. equity indices notched back-to-back red-candle days.
Energy stocks ruled the session, but semiconductor stocks did well too. Intel ($INTC) led the group with a 9.1% gain on the day. Advanced Micro Devices ($AMD), another big Sarge name, ran 5.9%. Treasury yields rose and bond traders liquidated holdings. The benchmark U.S. 10-Year Note reached its highest yield since November 2023, while the 2-Year Note paid what amounted to a post-January high. Traders also had to deal with renewed trade tensions between the U.S. and Canada. Retaliatory tariffs from Canada on about $20 billion worth of U.S. goods took effect on Tuesday.
Have a good evening, gang. Tomorrow is Wednesday and Dougie is off again, so, God willing, you’ll be working with me again.
Always faithful.
Position: Long INTC and AMD equity
SpaceX Helps Prevent Pullback With New Price Target
The aerospace firm was among the few AI-related names that carried the day.
Reading Through Comments From Applied Material’s Investor Conference
Signs point to tight chip capacity remaining in play for some time leading to favorable pricing.