The FOMC’s meeting gets underway today. Like most, this one seems very consequential. The Street is divided on whether or not the Fed has done enough to combat inflation as well as the necessity of a recession. continued for members… … continue reading →
According to Reuters, Microsoft’s Chief Executive Officer, Satya Nadella, and other Microsoft executives used the words “caution” and “cautious” at least six times during yesterday’s call. The stock, already locked into a falling channel from last November… …reversed its initial pop and is leading the broader indices lower this morning. Remember, MSFT is the second … continue reading →
Futures are essentially flat this morning after Friday’s OPEX panic to regain the 200-day moving average. continued for members… … continue reading →
Futures are marginally higher ahead of 2023’s first options expiration. Note that the 2022 Review and 2023 Forecasts are both completed. continued for members… … continue reading →
Futures are up over 0.65% even as VIX has popped 6.25% in the after hours. What gives? There’s actually a lot of reshuffling going on this morning, with important implications for currencies and equities. continued for members… … continue reading →
Futures are up moderately as we approach the open, gaining back much of the losses suffered yesterday in the wake of a dismal pending home sales print (-4.0% versus -0.8% expected, the worst since inception in 2001.) Prices fell MoM for the fourth month in a row. At this point, it appears the bulls are … continue reading →
It seems the algos are content to hold the current line instead of rallying into the end of the year – this Friday. continued for members… … continue reading →
S&P futures are quiet this morning, back to even after being up about 30 points overnight.continued for members… … continue reading →
What the algos giveth, David Tepper (bearish) and Q3 GDP (+3.2% vs 2.9% est. and -0.6% last) taketh away. Futures are off sharply as we approach the open. continued for members… … continue reading →
The Bank of Japan has kept interest rates at or below zero for years. Their bet was that the suppression of interest rates (by purchasing Japan’s net issuance, the BoJ now owns over 50%) would offer sufficient protection against both inflation and the 263% debt:GDP – exacerbated by the rapid depreciation of the yen. Investors, … continue reading →