Nike (NKE)

August 13, 2018

August 13, 2018

Stocks opened higher this morning but quickly faded on Turkey fears. The Dow and SPX are currently down 100 pts & .23%, respectively. Retailers, semiconductors and some FAANG stocks are clinging to small gains, but most everything else is in the red. The VIX Index  is trading up around 14, the highest in two weeks but still considered very low. Exchange trade volume is 11% below normal levels for this time of year, according to Bloomberg. European markets are down .5% and most of Asia was down more than 1% last night. The dollar appreciated about 1.2% over the last week as emerging markets currencies are losing ground. Not surprisingly, commodities are falling in value. WTI crude oil is down 1% to trade around $66.60/barrel. Remember, oil was over $70/barrel a month ago. Bonds are slightly lower in today’s trade. The 5-year Treasury yield is hovering around 2.74% and the 10-year is trading at 2.87%. 


*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 18, 2017

Stocks opened lower again today (Dow -40 pts; SPX -.3%). Gold miners and utilities are modestly higher, but most everything else is in the red. Real estate and telecom sectors are down .9%. Yesterday, the VIX Index spiked to 15.5 but today is back down under 15. VIX September futures are also around 15. CNBC points out that we’re not yet seeing a large selloff on big volume and that could be a sign of stability. In fact, a lot of professional investors are on vacation and exchange volume is very light. The dollar is weaker and commodities are mixed today. WTI crude oil is trading slightly lower to $46.95/barrel. Bonds are trading mostly higher in price, lower in yield. The 10-year Treasury yield is back down to 2.18%. And remember, at the beginning of the year the 10-year yield was near 2.5%. Since then, falling inflation expectations have resulted in lower yields. Alan Blinder, former Federal Reserve official, characterizes the dip in inflation this year as “mysterious.” Six months ago we had stable inflation, and now we’re seeing falling inflation. “What in the world happened?” He implied our methods for measuring economic activity may be flawed. 


*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 30, 2017

Stocks opened modestly higher following yesterday’s rout. The Dow and SPX are currently up 58 pts & .18%, respectively. Most sectors are trying to bounce back, except for financials, healthcare and telecom. The deep cyclical-type groups are weaker today—biotechs, semiconductors, banks. The VIX Index is sitting at 11.5 and VIX are trading at 12.3. The dollar is modestly stronger today against a basket of foreign currencies, but oil prices are rising as well. WTI crude is trading up around $45.40/barrel. Bonds are ever-so-slightly lower in price, higher in yield. The 5-year Treasury yield ticked up to 1.86% and the 10-year yield is up to 2.28%


*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, 2016

Stocks opened lower this morning (Dow -72 pts; SPX -.5%). All eleven major sectors are lower in early trading. Utilities (-1.9%) and real estate (-1.6%) investment trusts (REITs) are really taking it on the chin. Cyclical sectors are down less. Emerging markets funds are modestly higher and Asian markets were higher overnight. But most everything else is in the red. The dollar is a bit stronger; WTI crude is hanging on to a modest gain at $48.50/barrel. Bonds are lower as yields move upward. The 5- and 10-year Treasury yields are back up to 1.17% 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.

July 12, 2016

The major stock market averages rose again this morning (Dow +95 pts; SPX +.6%). Cyclical sectors and industries are up the most (banks, transports, semiconductors, oil companies). And small-caps (Russell 2000 Index) have been outperforming large-caps for the last week. The SPX is now up 8% from its Brexit low on 6/27. The VIX Index has backed down to 13.5 and VIX August futures are down to 16.4. So less fear out there. The dollar is a bit weaker and commodities are broadly higher today. WTI crude oil is up 2.7% to $46/barrel. Bonds are selling off (finally), with yields heading higher. The 5- and 10-year Treasury yields are up to 1.06% and 1.49%, 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.

March 23, 2016

Stocks opened lower this morning (Dow -45 pts; SPX -.44%). Energy and materials sectors are down the most in early trading. Only consumer staples and utilities are in the green. The VIX Index (spot) is trading at 14, suggesting pretty low expected volatility for the next 30 days. VIX April futures are trading up around 17 though. Markets seem fairly unmoved by the Brussels terror attack. WTI crude oil is trading down to $40/barrel and most commodities are lower. The dollar, not surprisingly, is a bit stronger on the day. Bonds are slightly higher as yields tick down. The 5-year and 10-year Treasury yields are trading at 1.39% and 1.92%, 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.