General Motors (GM)

October 12, 2017

The major stock market averages gapped down at the open but quickly turned around. The Dow and SPX are currently flat. Just like yesterday’s session, defensive and interest rate sensitive sectors are leading. The only exception is telecom, down 2%. I get the sense that the stock market needs to rest and investors need to settle in and digest third quarter earnings announcements before acting with any conviction. Oil prices sank this morning; WTI crude is down 1.7% to trade around $50.80/barrel. The bond market is slightly higher as yields edge lower. The 5-year and 10-year Treasury yields are hovering around 1.94% and 2.34%, respectively. From a technical analysis perspective, the 5-year yield hasn’t been able to move above 1.96% since late March, so that’s the key resistance level to watch. 


*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.

October 4, 2017

Stocks opened mixed this morning (Dow +20 pts; SPX flat). Gold miners, biotechs and consumer staples stocks are modestly higher. In addition, interest rate sensitive sectors like real estate and utilities are rebounding a bit. On the other hand, technology, banks and industrials are modestly lower. WTI crude oil is flat on the day around $50.40/barrel. Bonds are slightly lower as yield tick higher. The 5-year and 10-year Treasury yields are hovering around 1.93% and 2.34%, 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.

October 3, 2017

The major stock market averages opened higher again today. The Dow—currently up 65 pts—briefly touched a new all-time high. The SPX is up very slightly. Believe it or not, the telecom is leading the way, up .8%. A host of other sectors and industries are higher on the day as well (i.e. semiconductors, transports, consumer goods). Utilities & healthcare are in the red. European stock markets are poised to close up about .3% and most of Asia was higher overnight. The dollar is slightly lower against a basket of foreign currencies today, but has been strengthening over the last month. And if US economic growth accelerates & the Fed hikes interest rates again late this year, you can expect that the dollar will rise. Commodities are mixed today. Copper and gold are higher on the day but WTI crude oil backed down to around $50.30/barrel. Bonds are trading mostly higher as yields edge lower. The 5-year and 10-year Treasury yields are currently at 1.92% and 2.33%, 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 2, 2017

Stocks opened mixed this morning, without direction. The Dow and S&P 500 are currently flat. Gold miners are up over 1% in early trading, whereas banks, semiconductors and biotechs are struggling. The Financials sector has now given up nearly all its year-to-date gains. Both emerging markets and developed foreign stocks are up on the day. The VIX Index is up a bit to trade around 10.2, which is still extremely low. Commodities are mostly lower. Oil is down again to trade around $48.60/barrel. Bonds are slightly higher in price, lower in yield. The 5- and 10-year Treasury yields are trading at 1.83% and 2.31%, 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.

April 3, 2017

Stocks are down in early trading (Dow -90 pts; SPX -.5%). Financials are leading to the downside, with banks off 1.2% in early trading. Semiconductors, transports and chemicals producers are also lower. The healthcare sector is flat, and that’s about as good as it gets. The VIX Index is back up over 13. WTI crude oil is down slightly to trade around $50.20/barrel. The 5- and 10-year Treasury yields are down around 1.87% and 2.34%, 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.

January 17, 2017

Stocks sank at the open (Dow -48 pts; SPX -.26%). The SPX is now about .5% off of its record high, set back on 1/6. Defensive sectors (utilities, consumer staples) are leading way, up over 1% in early trading. The financial sector, up 16% since the election, is down about 1.7% today. The US dollar is weaker today and commodities are higher. WTI crude oil is trading up around $52.60/barrel. Bonds are trading up as yields fall. The 5- and 10-year Treasury yields are hovering around 1.84% and 2.34%, respectively. Remember, rates rose aggressively from Brexit last summer through December 15th. But since then we’ve seen some give-back (or “consolidation”) in rates. 


*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.

January 11, 2017

Stocks surged at the open (Dow +97 pts; SPX +.13%). Yesterday, the Nasdaq hit a fresh all-time high. Energy and industrials sectors are leading this morning as oil prices bounces back. Biotechs, gold miners, telecom carriers and REITs aren’t participating. The dollar is stronger on the day, but oil prices are up 2% to $52/barrel anyway. Bonds are pretty much unchanged. The 5- and 10-year Treasury yields are hovering around 1.89% and 2.39%, 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.

January 4, 2017

Stocks opened higher this morning (Dow +22 pts; SPX +.39%). The pattern of yesterday’s session—surge at the open which softened in the afternoon—could repeat today. At the moment, most sectors are the in green, led by consumer discretion and utilities. In addition, biotechs are up 2% in early trading. The VIX Index dropped 5% to trade around 12 today. The dollar is weaker and that’s giving some fuel to commodities. Copper is up nearly 2%. WTI crude oil is flat on the day, trading around $52.29/barrel. A quick look at the chart suggests strongly oil may trade up to $60/barrel in the near-term. Bonds are a bit lower as yields tick upward. The 5- and 10-year Treasury yields are trading at 1.96% and 2.46%, 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.

September 1, 2016

Stocks opened lower again this morning (Dow -89 pts; SPX -.46%), and should probably be a lot lower given some surprising economic data (see below). Financials and energy sectors are down the most (over 1%) in early trading, but all 10 sectors are lower. The VIX Index is up to 14.3. The dollar is weaker but commodities are also down on the day. WTI crude is trading down around $44/barrel after a higher than expected US inventory report. Bonds are lower in price, higher in yield. So the post-Brexit trend of gradually rising interest rates continues. The 5- and 10-year Treasury yields are currently at 1.19% and 1.58%, respectively. And by the way, the 2-year Treasury yield at .79% doesn’t suggest the Federal Reserve will be hiking interest rates in the near term. 


*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.