consumer spending

MARKET AT THE MERCY OF TRADE HEADLINES

Stocks gapped down at the open this morning, but quickly recovered after President Trump said he would delay planned auto import tariffs hikes. The Dow is currently up 41 pts and the SPX is up .5%. By the way, the Dow had its best day in a month yesterday. Ten of eleven sectors are in the green, led by communications services (+1.6%) and tech (+1%). Banks, on the other hand, are down along with interest rates. The VIX fell back to 17.3 today. Commodities are also trading higher today. WTI crude continues to climb on fears of Iranian terrorism in the Persian Gulf. Bonds are trading higher across the board, forcing yields lower. The 10-year Treasury Note yield is back down to 2.39% and will probably test its near-term support level of 2.37%. One doesn’t normally see stocks and bonds move in tandem. But of course any time geopolitical tensions rise one can expect safe-haven trades like gold and Treasuries to move higher.


*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.

RETAIL SALES REBOUND

Stocks opened higher this morning (Dow +100 pts; SPX +.13%). Real estate and utilities are catching a bid after a rough week. Industrials are also in the green after Honeywell’s (HON) earnings report. On the other hand, healthcare stocks continue to slide due to political risk. Popular health insurer UnitedHealth (UNH) is down 27% from its December high. Commodities are mixed; copper continues to climb (+1.4%) but oil and iron ore are flat. WTI crude oil is hovering around $63.60/barrel. Bonds are trading higher today as yields tick lower. The 10-year Treasury yield fell back to 2.56%.


*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.

RALLY EXTENDED BY BETTER ECONOMIC DATA

Stocks opened higher today (Dow +250 pts; SPX +.8%). A host of sectors are up more than 1% in early trading: financials, energy, industrials, materials, and communications services. Only the interest rate sensitive defensives (utilities, real estate, consumer staples) are in the red. The reason: better economic data in both the US and China. Commodities are trading broadly higher.


*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.

STOCKS & BONDS RISING TOGETHER

STOCKS & BONDS RISING TOGETHER

Stocks opened slightly higher this morning (Dow +21 pts; SPX +.2%). Consumer goods sectors are up about .7% after Wal-Mart (WMT) reported strong fourth quarter results. Other than that, cyclical sectors are faring worse than the defensives. Traders are pondering—now that the SPX has risen back above its 200-day moving average—whether the recovery rally can continue, or some consolidation is needed after a really strong run. WTI crude oil is up a little to trade around $55.80/barrel. Copper is up nearly 2% today and nearly 10% so far this year. Bonds are trading modestly higher as interest rates tick lower. The 5-year and 10-year Treasury yields are back down to 2.46% and 2.64%, respectively. The Treasury bond market and stock market essentially don’t agree right now. Stocks are telling you the economic outlook is a little less positive but things are OK. The bond market seems to be less optimistic. But remember, Treasuries are reflecting a more dovish Federal Reserve, and also ultra-low or negative sovereign rates overseas. So lower Treasury yields aren’t necessarily warning of a coming recession. As evidence, look to the junk bond market, which is up over 5% so far this year. If the bond market really believed recession was coming within the next year, you’d see much higher junk yields.


*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.

DON'T BE MISLEAD BY NEWS HEADLINES ON THE ECONOMY

The major stock market averages opened lower today on the some disappointing retail sales data (see below). The Dow is down 107 points and the SPX is down .2%. The consumer staples sector is down over 1% after a weak earnings report from Coca Cola (KO). Financials are down over 1%, and industrials are down .6%. This could be the consolidation we’ve been expecting after a sharp rally in January. Commodities are mixed in early trading. WTI crude oil is unchanged around $54/barrel. Bonds are modestly higher in price, lower in yield. Longer-term Treasury notes—as measured by iShares 20+ Year Treasury Bond ETF (TLT)—are up about .5% today. TLT is flat on the year, whereas corporate bond ETFs are mostly higher so far in 2019. As you might expect on a day when stock prices are falling, junk bonds are also weak.


*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.

EARNINGS & STIMULUS TO THE RESCUE

EARNINGS & STIMULUS TO THE RESCUE

EARNINGS & STIMULUS TO THE RESCUE

The stock market gapped up at the open today on overseas headlines (see below). The Dow is currently up 126 pts and the SPX is up .24%. Banks are up over 2% in early trading after strong earnings reports from Bank of America (BAC) and Goldman Sachs (GS). Oil fell back under $52/barrel in early trading, but that could easily turn around through the trading day. Bonds are mixed—corporates are modestly higher on the day but Treasuries are selling off as yields tick higher. The 10-year Treasury yield has rebounded to 2.73% from 2.55% just 2 weeks ago. Remember, higher long-term Treasury yields will likely be viewed by investors as a positive for the economic outlook.


*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 15, 2018

October 15, 2018

Stocks are mixed without direction after last week’s declines. At the moment, the Dow is down 47 pts, the SPX is down .4% and the Nasdaq is down .8%. Cyclical sectors are leading to the downside. The tech sector is down 1.3%; energy is down .7%; consumer discretionary is down .5%. On the other hand, defensives like utilities and real estate are catching a bid. Gold miners are up nearly 2%. The VIX Index is still hovering north of 20, belying some lingering fear from last week. European markets will close about .5% higher although most of Asia was down overnight. The dollar is weaker today, continuing a 1-week trend. WTI crude oil is down a bit to trade around $71.17/barrel. Bonds are trading slightly lower on the day as yields tick higher. The 5-year and 10-year Treasury yields rebounded to 3.01% and 3.16%, respectively. Remember, when stocks were tanking last week, the 10-year jumped briefly to 3.23%. So rates have backed down.


*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 16, 2018

The major stock market averages are meandering aimlessly today (Dow & SPX flat). Financials are up 1.2% after some positive earnings announcements (see below). Telecoms are also higher in early trading, but most other sectors are in the red. The VIX Index jumped back up to 12.6, but that’s still considered very low. Most European markets will close down slightly today, and except for Japan, Asian markets were down overnight. Oil is taking a hit, down 3% after Treasury Secretary Mnuchin said some US oil importers could get waivers to continue buying Iranian oil temporarily. “We want people to reduce oil purchases to zero, but in certain cases if people can’t do that overnight, we’ll consider exceptions.” Seems like a massive over-reaction by oil traders, but they’ve always been good at creating volatility where it’s not needed. Anyway, most other commodities are also in the red today. Year-to-date, the Bloomberg Commodity Index is down 5.7%. Bonds are trading modestly lower this morning as yields tick upward. But there is now only 10 basis points difference between the 5-year and 10-year Treasury note yields. The yield curve continues to flatten.


*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 14, 2018

The major stock market averages gapped up at the open, but quickly faded. The Dow is currently flat and the SPX is up .25%. The Nasdaq is up .7%. The financial sector is down nearly 1% despite the Federal Reserve’s rate hike yesterday (see below). That’s quite a surprise. Utilities, telecom and real estate sectors, on the other hand, are up about 1% in early trading despite better economic data. European stock markets are surging today after the European Central Bank’s policy meeting (see below). The dollar is stronger today against a basket of foreign currencies and not surprisingly, commodities are mostly trading lower. WTI crude oil is down modestly to $66.50/barrel. Bonds are trading up modestly. The 5-year Treasury yield is pretty much unchanged at 2.82% but the 10-year Treasury yield ticked down to 2.95%. So the yield curve is flatter today. This is not at all what I expected to see this morning. What we have today is a tug-of-war between various powerful forces in the market. CNBC’s Rick Santelli characterized this market action as “incongruent.”


*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 15, 2018

Stocks opened lower this morning. The Dow is currently down 243 pts and the SPX is down .8%. The Nasdaq is off 1%. All eleven major market sectors are in the red, led by real estate (-1.6%), healthcare (-1.3%), tech (-1.2%), and utilities (-1.1%). The only bright spots today are banks and small-caps. The VIX Index jumped up to 14.2 in early trading and VIX June futures are trading around 15.2. So there’s no real fear out there. The dollar is higher on better than expected economic data and most commodities are lower—even gold. WTI crude oil is down around $70.60/barrel. OPEC just reported that the global oversupply in oil has been virtually eliminated. Bonds are selling off as interest rates rise. The 5-year Treasury note yield is up around 2.91% and the 10-year is  trading at 3.07% for the first time since 2011. 


*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 14, 2018

The stock market opened lower this morning (Dow -274 pts; SPX -.46%; Nasdaq -.35%) on some weak retail sales data as well as continued trade war fears. Cyclical sectors are leading to the downside, with industrials down over 1%. Utilities are in the green but stand alone. Since President Trump’s proclamation on import tariffs, fears over a potential trade war have stifled the industrials sector (down 2%), and the materials sector (down 1%). Boeing (BA) is down over 3% today. Oil is holding steady at $60.70/barrel. Bonds are rising in prices as yields tick lower. The 5-year Treasury yield is hovering around 2.62% and the 10-year is at 2.82%. Over the last month, the yield curve has flattened. The difference between the 2-year and 10-year yields is back down to .56%. That’s because recent economic reports show inflation is very tame but investors believe the Federal Reserve will go ahead with three interest rate hikes this year.


*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 12, 2018

Stocks surged at the open (Dow +197 pts; SPX +.46%) on better than expected earnings announcements. Nine of eleven major market sectors are in the green, led by consumer discretion (+.8%) and industrials (+.8%). The KBW Bank Index (BKX) is up about .6% after several big banks reported earnings this morning. Utilities are flat and real estate is down another .7%. The dollar is weaker (now down 1% on the year) and commodities are mixed. WTI crude oil is trading down .5% to $63.50/barrel, but has been rising for the past four weeks. Bonds are selling off again. The 5-year Treasury is up around 2.35% and the 10-year is back up to 2.56%.


*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 28, 2017

The major stock market averages opened higher this morning (Dow +126 pts; SPX .5%), hitting new all-time highs. Ten of eleven sectors are in the green led by financials, industrials and materials. Only real estate is down in early trading. The VIX Index is still hovering around 10. European markets are poised to close up about .6%. The dollar is stronger on better economic data and so most commodities are trading lower. WTI crude oil is down .5% to trade around $57.80/barrel. OPEC is scheduled to meet this week. Bonds are up modestly as yield tick lower. The 5-year Treasury yield is back down to 2.04% and the 10-year is trading at 2.32%. By the way, in a congressional confirmation meeting today, Fed Chair candidate Jerome Powell implied the Fed will likely raise interest rates next 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.

October 13, 2017

Stocks gapped up at the open (Dow +30 pts; SPX .17%). Most sectors are in the green as earnings announcements track better than expected. Tech, materials and energy are leading the way. Only healthcare, telecom and utilities are in the red. Commodities are mostly higher on the day and oil is trading up 1% to $51/barrel. Bond prices are modestly higher again today as yields sag. The 5-year Treasury yield is back down around 1.91% and the 10-year yield is back down to 2.29%.


*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 28, 2017

Stocks gapped down at the open but quickly recovered. The Dow is currently up 22 pts and the SPX is flat. Transports, semiconductors, pharma and gold miners are trading higher, but banks and retailers are giving back some of their recent gains. By the way, the SPX is poised to achieve its eight consecutive quarterly gain. European markets are up slightly in today’s session after a survey of economic confidence gave investors a positive surprise. Most of Asia was higher overnight. The dollar is weaker today and WTI crude oil is up again to trade around $52.30/barrel. Bonds continue to sell off as yields march higher. The 5-year Treasury yield is up around 1.92% and in the near term it could move up to test resistance at 1.96%. The 10-year Treasury yield is up around 2.33% and will likely test 2.40% in the near future. 


*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 30, 2017

The major stock market averages opened mixed this morning. The Dow and SPX are currently down 10 points and up .2%, respectively. Cyclical sectors are rebounding today (energy, financials, tech). Utilities, which recently hit a 1-year high, are fading. The dollar is a bit stronger today after some encouraging economic data, but is still down 9% year-to-date against a basket of foreign currencies. Commodities are mostly lower; WTI crude is hovering around $46/barrel. Bonds are slightly lower in price, higher in yield. The 5-year and 10-year Treasury yields ticked up to 1.72% and 2.13%, 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 1, 2017

Stocks opened higher this morning and the Dow Jones Industrial Average set a fresh records high. At the moment, the Dow is up 80 pts and the SPX is up .18%. Telecoms, banks and semiconductors are leading the charge. On the other hand, biotechs, transports and energy companies are trading lower. WTI crude oil is  down 3% to trade around $48.50/barrel. Copper and iron ore are also in the red. Bonds are trading higher in price after some disappointing economic data. The 5-year Treasury yield dipped to 1.81% and the 10-year yield edged down to 2.26%. 


*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 14, 2017

The major stock market averages opened higher despite a weak retail sales report. The Dow and SPX are currently up 9 pts & .2%, respectively. The Nasdaq is up .3%. The defensive sectors are catching a bid for a change (real estate, utilities, consumer staples). Financials is the only sector in the red after some less than stellar earnings reports. WTI crude is trading up around $46.45/barrel. Bonds are sharply higher in price, lower in yield after a soft inflation report. The 5- and 10-year Treasury note yields dipped to 1.86% & 2.32%, 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 27, 2017

Stocks opened lower today. The Dow is currently down 14 pts and the S&P 500 is down .24%. Telecoms and utilities are getting hit, down over 1% at the moment. Semiconductors & biotechs are giving up ground as well. On the other hand, banks and oil/natural gas stocks are up nicely this morning. The dollar is weaker against a basket of foreign currencies today, and has given up about 5% this year. That’s helping US multi-national companies doing business overseas. Most commodities are rebounding (copper, iron ore, oil). WTI crude oil is up again today, trading around $44.11/barrel. The more convinced traders are that oil bottomed last week, the better the stock market will do in the near-term. Bonds are selling off today (maybe a response to oil?). Remember, falling bond yields happen to be the linchpin in most bear investor forecasts. At the moment, the 5-year Treasury yield is back up to 1.81% and the 10-year is up to 2.19%.


*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 30, 2017

Stocks opened lower this morning, digesting recent gains. The Dow is currently down 30 pts and the SPX is off .1%. Telecoms are surging today, recovering some of their year-to-date losses. On the other hand, energy and financial sectors are down sharply. The dollar is a bit weaker this morning but most commodities aren’t rising. WTI crude oil is trading down to $49.35/barrel. Bonds are higher in price, lower in yield. The 5- and 10-year Treasury yields ticked down to 1.77% and 2.23%, 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.