Janet Yellen

November 29, 2017

Stocks opened very mixed this morning (Dow +49 pts; SPX -.18%; Nasdaq -1.58%). Financials are up 1.7%, telecoms are up over 3% in early trading, whereas the tech sector is down 3%. This is clearly year-end profit-taking and a mini investor rotation. The VIX Index is up around 10.5. European markets will close higher by about .5%. Asia was mixed overnight. The dollar is unchanged and commodities are all over the place. Copper, gold and oil are down on the day. WTI crude oil is down 1% to $57.40/barrel. Bonds are selling off as yields head higher. Fed Chair Janet Yellen is before a congressional committee today and said the Fed is committed to raising interest rates at a gradual pace because “We don’t want to cause a boom-bust condition in the economy.” The bond market expects two rate hikes next year, whereas the Fed predicts three hikes. The next Fed Chair, Jerome Powell, recently said he believes the Fed’s policy interest rate should eventually move to 2.5% from the current 1.25%. This morning, the 5-year Treasury yield ticked up to 2.11%, the highest since mid-March. The 10-year yield climbed back to 2.38%.


*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 30, 2017

The major stock market averages gapped down at the open. The Dow is currently down 88 pts and the SPX is down .4%. The Nasdaq is down .2%. Gold miners and energy stocks are trading higher. On the other hand, pharmaceuticals, consumer staples, transports and banks are lower on the day. The dollar is a bit weaker against a basket of foreign currencies and commodities are modestly higher. WTI crude oil is treading water at $54/barrel (an 8-month high). Bond prices are higher on the day as yields tick lower. The 5-year Treasury yield is back down to 2.0% and the 10-year yield is down to 2.39% after recently spiking to 2.46%. But still, it seems the path of least resistance for interest rates is up.


*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 27, 2017

Stocks opened slightly higher this morning (Dow +5 pts; SPX +.11%). Financials, especially banks, and semiconductors are up over 1% in early trading. On the other hand, gold miners, utilities and consumer staples are down about 1%. European markets are poised to close up about .3% today. The dollar is a bit stronger against a basket of foreign currencies and commodities are mixed. WTI crude oil is trading up around $52.13/barrel. We haven’t seen a 52 handle on oil since April. Bonds are selling off today as interest rates tick higher. The 5-year Treasury note yield is back up to 1.90%, a two-month high. The 10-year Treasury note yield is up around 2.29% and the next stop is probably 2.39%. 


*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.

July 13, 2017

Stocks opened slightly higher today. The Dow is current up 18 pts and the SPX is up .1%. Retailers, banks, and some tech stocks are trading modestly higher, whereas telecoms, biotechs and gold miners are lower. The VIX Index is still hovering around 10. Most commodities are lower, although WTI crude oil is up about 1% to trade around $46.10/barrel. That’s great news for the stock market. Bonds are selling off again today as yields resume their slow march higher. The 10-year Treasury yield ticked up to 2.35% and I’m guessing the 10-year will soon test near-term resistance at 2.42%.


*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.

June 28, 2017

he major stock market averages gapped up at the open. The Dow and SPX are currently up 134 pts & .75%, respectively. Banks, semiconductors, biotechs and transports are leading the way (all +1% or more). Utilities is the only sector in the red. The dollar is down a bit and most commodities are slightly higher. Oil prices ticked up after a positive gasoline inventory report. WTI crude oil is hovering around $44.70/barrel. Bonds are selling off again for the second consecutive day. The 5-year Treasury yield is up to 1.83% and the 10-year yield is up to 2.22%. Most of the move is reaction to recent comments from central bankers. Yesterday, Fed Chair Janet Yellen said the banking sector is very strong and she doesn’t expect another financial crisis in our lifetimes. Also, European Central Bank (ECB) chief Mario Draghi essentially declared victory over deflation in Europe. Today, Bank of England (BOE) chief Carney said the BOE may have to start raising interest rates soon. 


*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.

March 16, 2017

Stocks opened a bit lower this morning (Dow -45 pts; SPX -.29%) following yesterday’s rally. Just about everything—except tech, financials and some retailers—is lower in early trading. The market has been very resilient, however, and the Dow has now gone 106 days since experiencing a 1% daily move. Most commodities are higher on the day. But WTI crude is trading down to $48.65/barrel. Bonds are trading slightly lower as yields tick higher. The 5-year Treasury yield is currently 2.02% and the 10-year is trading at 2.52%. By the way, junk bonds are the real story in the bond market this month. After selling off during the last few weeks, they rebounded strongly yesterday in the wake of the Fed announcement (see below).


*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.

March 6, 2017

Stocks opened lower this morning (Dow -80 pts; SPX -.6%). All eleven major market sectors are down, led by financials (-1%). The VIX Index is back up to 11.4 but that’s still very low. And the VIX for long-term Treasury bonds is actually higher (12.3). That means investors are more worried about volatility in the bond market than in the equity market. Bonds are lower today as yields rise. The 5-year Treasury yield is hovering around 2.02% and the 10-year yield ticked up to 2.49%.  


*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.

March 3, 2017

The major stock market averages opened lower this morning (Dow -32 pts; SPX -.14%). Biotechs and banks are up modestly, but the rest of the landscape is flat to down. The VIX Index sank back down to 11.3 today; there really isn’t much fear among investors at the moment. The dollar is weaker and commodities are mixed. Gold is down today but up about 6% so far this year. WTI crude oil is up 1% to trade around $53.20/barrel. Bonds are lower pretty much across the board. The 5- and 10-year Treasury yields shot up to 2.05% and 2.51%, respectively. Those yields are at 2-month highs. The 2-year Treasury, which closely follows Federal Reserve rate hike expectations, has jumped to its highest level since late 2008. 


*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 18, 2017

The major market averages gapped down at the open but quickly recovered this morning. At the moment, the Dow and SPX are down 27 up pts & flat, respectively. Semiconductors, biotechs and transports are leading the way. Remember, they were laggards yesterday. Retailers, transports and telecoms are lower in early trading. The VIX Index is  up 3% to trade around 12.2; traders are watching the fear index closely because they believe a rising VIX will signal the end of the Trump Rally. The dollar is a bit stronger today and commodities are down slightly. WTI crude oil is down slightly to trade around $52/barrel. Bonds are slightly lower in price, higher in yield. The 5- and 10-year Treasury yields are currently at 1.87% and 2.38%, 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 17, 2016

Stocks opened higher this morning (Dow +7 pts; SPX +.35%). Consumer discretion and financials are leading the market higher. Materials, real estate and consumer staples are lower. By the way, over the last couple of months we’ve seen a change in sector leadership. The defensive sectors (utilities, telecom, staples) are losing momentum while the cyclicals (industrials, financials, tech) have been gaining momentum. The dollar continues to strengthen and interest rates are again on the rise. WTI crude oil is trading flat around $45.50/barrel. Copper and iron ore continue to surge higher, driven by stability in China and rising expectations for fiscal stimulus under President-elect Trump. Today, the 5- and 10-year Treasury yields are up around 1.69% and 2.25%, respectively. Rates are back to where they were at year-end 2015. 


*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 17, 2016

he major stock market averages are meandering around flat this morning (Dow -24 pts; SPX -.05%). Utilities and telecoms are up .3% to .6% in early trading. Biotechs and gold miners are also in the green. Energy and consumer discretionary sectors are lower. Both Asia and Europe ended the session in the red. WTI crude oil is down just under $50/barrel. The dollar is slightly weaker and bonds are slightly higher. The 5- and 10-year Treasury yields ticked down to 1.25% and 1.77%, respectively. Yields are hovering near 4-month highs. Last week Fed Chair Yellen said she’s comfortable running with a “high-pressure” economy. That means she believes the Fed should be patient and slow with interest rate hikes even as inflation begins to rise. On the other hand, Fed Vice-Chair Fischer warned today that continued low interest rates are dangerous to financial stability.  


*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 26, 2016

Stocks gapped down at the open (Dow -117 pts; SPX -.67%) in anticipation of tonight’s presidential campaign debate. Gold miners and energy stocks are higher, but just about everything else is selling off. The VIX Index is up 12% to trade around 13.8 and VIX October futures are up around 16.2. So traders are clearly predicting increased volatility over the next 30-60 days. European stock markets are down more than 1% in today’s session and Asia closed lower overnight. WTI crude oil is back up around $46/barrel today. Bonds are trading higher as yields fall. The 5- and 10-year Treasury bonds are trading at 1.13% and 1.59%, 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.

August 26, 2016

The major stock market averages opened higher this morning in front on Janet Yellen’s Jackson Hole speech. The Dow and SPX are currently up 87 pts & .5%, respectively. This is neither a classic “risk-on” nor a “risk-off” day. In fact, nine of ten major market sectors are up by pretty much the same percentage. The VIX Index is trading around 12.7, but the upcoming election is driving up VIX December futures to around 18. That means some volatility as we exit the year. The dollar is flat on the day and WTI crude oil is trading up a bit to $47.69/barrel. Bonds are broadly unchanged. The 5- and 10-year Treasury yields are currently trading at 1.14% and 1.55%, respectively. So Ms. Yellen’s speech simply isn’t riling the bond market. 


*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.

August 25, 2016

Stocks gapped down at the open but quickly recovered (Dow +7 pts; SPX +.1%). Financials, materials and utilities are leading the way. Retailers and transports are in the red. Semiconductors (SOX Index) continue to power ahead, now up 15% this quarter. European markets will close down today and Asia was lower overnight. WTI crude oil is trading up slightly to $47.14/barrel and other commodities are mixed. Copper is down 7% this month and gold is down 2%. Treasury bonds are unchanged but corporate bonds continue to rise. 


*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.

June 21, 2016

Stocks closed relatively flat today with the Dow Jones up 24.86 points and the S&P higher by 0.27%. Bond yields for the 5 and 10-year Treasuries are slightly higher with yields of 1.2002% and 1.7094%, respectively. Oil prices are lower with WTI Brent Crude down 1.05% at 48.95 a barrel.

Investors remain focused on the upcoming June 23rd Brexit referendum in which British, Irish, and Commonwealth citizens, among others, will decide whether the UK stays with or leaves the EU. Surveys show that the two sides are neck and neck and no particular outcome is certain at this point.

The “remain” supporters cite the relative strength of staying within the group consisting of 28 member countries. They also applaud the benefits of free travel, free trade, and inward investment amongst the members. The “leave” side maintains that the UK pays billions of pounds for its membership in the EU with little to show in return.


*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.

June 17, 2016

The stock market continues to gyrate around close to all-time highs. This morning the Dow and SPX are down 68 pts & .4%, respectively. Energy is the only sector in the green as oil prices turn around. Semiconductors and biotechs are getting beaten up. Even utilities are falling. Interestingly, Asian stock markets closed up and European markets are poised to close up over 1%. The dollar is weaker and commodities are mostly higher. WTI crude is trading up around $47.50/barrel. Bonds are actually lower in price with yields a bit higher. The 5- and 10-year Treasury yields are up to 1.12% and 1.61%, 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.

June 16, 2016

Stocks opened lower for the sixth straight session (Dow -63 pts; SPX -.5%). Utilities is the only sector in the green at the moment. Energy, financials, industrials and tech are all down. The VIX Index, a measure of investor fear, is back up to 22.5 and VIX futures are trading around 21.95. So a little bit of elevated fear in the near term trade. The dollar is stronger on the day despite some bearish comments from the Fed (see below) and commodities are mostly lower. WTI crude is down more than 3% to trade around $46/barrel. Bonds are rising today. The 5- and 10-year Treasury yields are down to 1.07% and 1.55%, respectively. It could very well be that global investors are bulking up on US Treasuries in front of the UK’s “Brexit” vote later this month. 


*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.

June 7, 2016

Stocks gapped up at the open this morning (Dow +68 pts; SPX +.35%). The SPX is now only .8% away from its all-time high. The energy sector is the clear leader in early trading, up 2%. Healthcare (particularly biotech) is the only sector in the red. So gains are fairly broad-based, from semiconductors to transports to retailers. The dollar is a bit weaker on the day and oil is up yet again. WTI crude is trading up to $50/barrel. Bonds are rising in price, with yields falling. The 5-year Treasury is down to 1.22% and the 10-year is hovering around 1.71%. That’s the bottom of the yield range we’ve seen over the last 4 months. The bond sees a zero chance that the Federal Reserve will hike interest rates this month, and a 20% chance they will hike in July. 


*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 8, 2016

The major stock market averages are rebounding from yesterday’s rout (Dow +88 pts; SPX +.58%). European markets are one reason; they are poised to close up about 1.3%. Energy is leading the way (+2.2%) but industrials, materials and financials are also up over 1% in early trading. WTI crude oil has been jumping around on nothing but far-fetched speculation; today it’s trading up toward $40/barrel. There are as many opinions on oil as there are Wall Street analysts. Jeffries says the current oil price is unsustainable and a recovery will be protracted. Merrill Lynch, on the other hand, says US oil production is in freefall and the global oversupply of oil is starting to clear up. Meanwhile, there is no fundamental (supply/demand) reason why WTI crude oil prices are 6% than they were yesterday. Bonds are selling off a bit this morning. The 5- and 10-year Treasury yields are up to 1.18% and 1.74%, respectively. The 2-year Treasury yield, by the way, is down around .7%, suggesting bond traders don’t fear a Fed rate hike any time soon.


*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.

March 30, 2016

Stocks gapped up this morning, following on the heels of yesterday’s Fed-induced rally. The Dow and SPX are currently up 131 pts & .7%, respectively. The tech sector is up over 1%, with financials right behind. Telecoms and utilities are down modestly. We’re seeing big gains today in semiconductors, banks, insurance companies, and Apple (AAPL). In fact, CNBC is reporting that Apple is no longer in a “bear market,” having rallied about 20% from its recent bottom. In addition, General Electric (GE) stock is back up to nearly $32/share, a level not seen since 2008. WTI crude oil is up modestly to $39.30/barrel and most other commodities are up on the day. Bonds are selling off a bit, with the 5- and 10-year Treasury yields trading up to 1.30% and 1.85%, 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.