As we’ve all seen, tariff news has been driving the market’s volatility over the past week. This morning, that took a backseat for a second as a flurry of economic data emerged for investors to interpret. ADP Employment numbers well below consensus (77k vse 140k) sent equity futures into the red as traders keep an eye on the nonfarm payrolls that release Friday. The second half of economic data had more positive effect, with Service PMI in February breaching the 50 level, indicating an expansio…

Quote of the Day – “Excited for the US, Mexico, and Canada to jointly host the World Cup next year!”

Here in NYC, the mood is starting to lift as daylight gets longer and the hopes of spring weather on the horizon start to rise. But on Wall Street the vibe is a much more concerning one as markets continue to their downward momentum following Nivida’s lukewarm earnings print and the end of an earnings season that left more to be desired. The CNN fear and greed index continues to lean towards “Extreme Fear” with S&P 500 firmly below its 100d (5950) and moving closer to its 200d mavg (5716). It’s…

A bit of running to stand still today as markets saw decent gains in the morning and lost them all in the afternoon, only to close basically flat. It was earnings optimism that provided the initial boost with Intuit (+12.6%), Lowes’s (+2%), TJX (+1.8%) and Workday (+6.2%) all outperforming the high standards on The Street. It was Trump’s cabinet meeting that caused the about face in the afternoon as tariff plans eroded confidence. Interestingly, with tariffs at least, the talk has outweighed th…

I.See.Red, as US equities behaved in a very risk off / de-grossing manner for most of today’s trading session. Main averages ended mixed to down as the globe gears up for Nvidia earnings post market tomorrow which can take us either way. Regarding the de risk mannerisms, there are signs that continue to emerge and/or crystalize which further the narrative. 1) Rotation towards more defensive/cyclical stocks, 2) Short term downside risk to SPX as it continues to trade sideways, 3) US Momentum Ind…

It was a rare weekend where rest and rejuvenation were the focus. Light on the booze, heavy on the workouts with some Sunday home cooking to round things out. (Pictures of said dish available upon request.) Come into Monday morning feeling revitalized and raring to go – only for a colossal coffee spill first thing and the positive vibes are nearly derailed. Some Clorox wipes quickly stepped in to mitigate the damage though; the market could use a few wipes after being derailed some lately. Afte…

It feels like flu season is all anyone has been talking about, or coughing about, the past few weeks. Equities had a health-check of their own today, giving back gains after two straight days of record highs. Another day of bad breadth (64% down day) paired with the lowest volume of the last two weeks saw the S&P 500 (-.43%) and Nasdaq 100 (-.48%) down as a disappointing forecast from the world’s biggest retailer shocked investors, sending shares down as much as 10% pre-market. Though Walmart r…

When traders left last night, headlines from President Trump were scrolling about 25% tariffs on autos, pharmaceuticals, and semis, starting April 2nd. With that overhang, S&P futures started lower this morning as investors parsed the news. But like yesterday’s market action, equities moved higher throughout the session with both the S&P 500 and Nasdaq finishing with new all-time closing highs. Economic data this week is minor except for Friday’s PMI and University of Michigan (and more importa…

Records were made to be broken. It wasn’t until the final hour of today’s session that equities forged a path higher with the S&P500 and Nasdaq making all-time highs as investors chose to look on the bright, risk-on side. The US/Russia meeting of the minds in Riyadh offered hope for an impending peace deal in Ukraine, combating the persisting, ever growing macro headwind of geopolitical uncertainty. Gold joined in on the all-time highs party as well, already +12.6% year to date with one bulge b…

Today’s session started on a rather apprehensive, though perhaps now familiar, foot after Trump emphatically tweeted about reciprocal tariffs. However, as economic data rolled in investors shrugged off the uncertainty and equities melted higher. Treasuries saw hefty gains as well thanks to an arguably misleading PPI print. The headline YoY figure came in at 3.5% versus 3.3% expected, while the prior reading was revised higher to 3.5% as well – not to mention the data echoes yesterday’s hotter C…