Tobias Levkovich

January 3, 2019

January 3, 2019

Stocks opened sharply lower after a profit warning from Apple Inc. (see below). The Dow is currently down 519 pts and the SPX is down 1.5%. Eight of eleven major market sectors are lower, led by tech (-3.6%) and industrials (-2%). The defensive sectors are in the green (real estate, utilities, consumer staples). European markets closed down about 1% and nearly all of Asia was down overnight. Commodities are mixed in early trading. WTI crude oil fell back slightly to trade around $46.30/barrel. Gold is up by .5%. Bonds are mixed in early trading. Corporates (both investment grade and junk) are lower, but Treasuries are moving higher. The 5-year and 10-year Treasury yields are down around 2.40% and 2.58%, respectively. Those are both around 1-year lows. The bond market is telling you there is no need for the Fed to raise rates during the first half of 2019.


*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 18, 2018

Stocks opened mixed this morning as investors await results of trade talks with China. The Dow is flat and the SPX is down .14%. Industrials and biotechs are up modestly, but most everything else is trading down. European markets are poised to close a bit lower. The VIX Index is back up around 13.6. The dollar continues to slowly strengthen and yet commodities are also rising. The dollar is now up 1.7% for the year and the Bloomberg Commodity Index is up 2.6%. WTI crude is unchanged today at $71.40/barrel. Bonds are trading higher as yields dip. The 5-year Treasury yield is back down around 2.90% and 3.01%.


*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.

December 27, 2016

Stocks opened higher this morning and the Dow is again attempting to reach the 20,000 level. At the moment, the Dow and SPX are up 38 pts & .36%, respectively. Most sectors are modestly higher, led by tech and healthcare. Retailers are also faring well this morning. Telecoms and utilities are a bit lower in early trading. Exchange trade volume should be fairly light this week. Oil continues to rally, having risen about $10/barrel in the last six weeks. WTI crude is now trading at $53.60/barrel. Bloomberg says OPEC’s production cut will soon take effect. 


*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.