University of Michigan Consumer Sentiment Survey

NOTHING TO SEE HERE, HAVE A NICE WEEKEND

Stocks dropped at the open but quickly recovered after a positive consumer sentiment report. The Dow is currently flat and the SPX is down .28%. Utilities and healthcare sectors are up modestly. Most retailers are catching a bid as well. On the other hand, semiconductors, energy and industrials are in the red. European markets closed down about .4% and China’s markets dived more than 2% last night. Emerging markets funds have really underperformed this month on rising trade tensions. Commodities are mostly lower today. WTI crude oil is flat at about $62.90/barrel. Remember, oil is reacting to Iran’s terrorism, not to the US-China trade dispute. Bonds aren’t moving much, except at the long end. The 10-year Treasury yield is hovering around 2.39%. Bond traders are watching to see if the 10-year can hold above near-term support at 2.37%.


*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 9, 2016

Stocks opened higher yet again this morning (Dow +57 pts; SPX +.3%). The best performing sectors in early trading are healthcare (+1.2%), consumer staples (+1%) and technology (+.5%). Banks, semiconductors and telecoms are lower in early trading. The pharma/biotech space is rebounding a bit after a monster beating earlier this week. President-Elect Trump indicated he’d like to address high prices for pharmaceuticals. The healthcare sector is now flat over the last two years. Most commodities are higher on the day (copper, oil, iron ore). WTI crude oil is trading up over $51/barrel. Bonds are flat on the day. The 5-year and 10-year Treasury yields are trading around 1.84% and 2.42%, 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 13, 2016

Stocks are slightly lower this morning despite some better than expected economic data. The Dow and S&P 500 are currently down 41 pts & .15%, respectively. Tech and healthcare—among the worst performing sectors this year—are up modestly. More specifically, semiconductors & biotechs are faring well. On the other hand, transports & banks are weaker in early trading. WTI crude oil is down a bit to $46.30/barrel, but remember oil is hovering around the highest levels since early November 2015. So that’s constructive. Bonds are mixed, with yields moving up on the short end but down on the long end. The 2-year Treasury yield is up to .93%, but the 10-year Treasury yield is down (again) to 1.73%.


*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.