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Futures are flat as we enter the final month of a pretty solid year. Questions remain, however, regarding the economy’s ability to withstand the coming policy changes. continued for members… … continue reading →
Tag Archives: stocks
PPI came in at 0.0% MoM and 1.8% YoY, supporting expectations of a 25 bps rate cut in November. Algos approved and are holding yesterday’s trading range. These expectations, however, are probably wrong. As we’ve discussed often over the past few months, the decline in goods prices from 0.6% in Jul to 0.0% in Aug … continue reading →
Futures are flat ahead of tomorrow’s CPI print. Yesterday’s price action put ES in the most ambiguous position possible: poised for a reversal or a breakout. continued for members… … continue reading →
Futures have rebounded almost .50% after testing recent lows yesterday. Traders remain focused on tomorrow’s FOMC minutes and Thursday’s CPI print. continued for members… … continue reading →
Futures are slightly lower on the last day of a pretty impressive Q3 at +8.7%.Can the rally keep going in October? continued for members… … continue reading →
Futures are up slightly ahead of another data-heavy week: S&P Services and Manufacturing PMIs today, Philly Fed Non-Manufacturing, Richmond Fed, and the Conference Board confidence data tomorrow, and Initial Jobless Claims, Q2 GDP, and Core PCE later this week. continued for members… … continue reading →
August nonfarm payrolls came in at 142k versus 165k expected while the unemployment rate ticked lower to 4.2%, underscoring the Fed’s assessment that the economy is slowing enough to justify a 25 bps rate cut later this month. Futures rallied on the news and are slightly higher after tagging our next downside target overnight. Just … continue reading →
Futures are flat this morning following unemployment data that supports the widely held expectation of a rate cut when the FOMC meets Sep 17-18. The algos are presently concerned with the yield curve, which continues to warn of further downside, tomorrow’s jobs report, and a pesky gap which refuses to be ignored. continued for members… … continue reading →
Oil and gas futures have both tagged our next downside targets from June [see: Update on Oil & Gas, June 6, 2024.]. We’ll take a look at the road ahead and what it means for the equity and bond markets. continued for members… … continue reading →
Futures are off moderately following yesterday’s reversal, the 6th session in a row that ES failed to surpass its .886 Fib retracement. continued for members… … continue reading →