Dallas Fed Manufacturing Activity Index'

August 27, 2018

August 27, 2018

Stocks surged at the open after the US & Mexico announced a new trade deal. The Dow is up 263 pts and the SPX is up .8%. The cyclicals—financials, industrials, materials, technology—are up at least 1% in early trading. And overseas markets are doing very well. The EuroStoxx 50 Index is up .8%, the Nikkei rose .9% and even China’s Shanghai Composite Index rose nearly 2% last night. China’s central bank took steps to support its currency from further weakness, and that is being viewed positively. As a result, the dollar is weaker today and commodities are mostly trading higher. WTI crude oil is back up around $66.80/barrel. Bonds are selling off today as yields tick higher. Usually, when the dollar is weaker interest rates rise. The 5-year and 10-year Treasury note yields are hovering around 2.74% and 2.85%, respectively.


*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.

November 28, 2016

Stocks opened lower this morning (Dow -67 pts; SPX -.36%). Defensive sectors are leading the way (utilities +1.8%, telecoms +.5%). Financials, energy, consumer discretion and industrials are down in early trading. The VIX Index, which bottomed around 12.3 over the last few sessions, is up to 13. WTI crude oil is trading back up to $47.26/barrel and most other commodities are also higher. In fact, the Bloomberg Commodity Index is up about 9% year-to-date. Bonds are slightly higher in price as yields take a bit of a breather after a monster run. The 5- and 10-year Treasury yields are trading at 1.80% and 2.32%, respectively.


*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.

May 31, 2016

The major stock market averages opened lower this morning (Dow -93 pts; SPX -.26%). Telecom and utilities sectors are up modestly, while most everything else is lower. The VIX Index is trading up to about 14, which is not considered elevated but we’ll see where it goes from here. The SPX is in the process of testing resistance (a prior high) at about 2110. It has failed at that level several times in the last year. So short-term traders are on alert. The dollar is modestly lower and commodities are mixed. Oil is trading up toward $49.90/barrel, and remember we haven’t seen oil trade consistently around $50 since last fall. Bonds are mixed. The 5-year Treasury yield is unchanged at 1.39% and the 10-year is unchanged at 1.85%. 


*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.