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Stocks fell for the third consecutive week with news headlines and the yield curve in the driver's seat. Stock indices began the week down before news of a delay on the tariffs promised by the Trump Administration gave instant life to buyers who left when the tariffs were first announced. The good times were short lived after investors were spooked Wednesday when the 10-year Treasury yield momentarily fell below the 2-year yield; a popular indicator of an upcoming recession. Stocks produced their ...

Although the final numbers may not indicate it, it was another wild day on Wall Street on Thursday. The bulls did have a small victory with the Dow gaining 100-points on the day, but by comparison, it certainly did not getting back much of the 800-points it had lost on Wednesday. The broader indices performed even less impressively with the S&P gaining just 0.25% while small caps and the Nasdaq closed slightly in the red.

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The wild swings continue after yesterday's 800-point drubbing in the Dow, reversing and doubling the loss of Monday's 400-point gain. They're blaming a brief inversion of the 2 / 10 year bond yields yesterday morning, but if you've been reading our commentary, it's hard to believe that anyone was surprised by that happening. It has been getting dangerously close for a while.

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Down 767-points on 8/05, up 312 on 8/06, up 371 on 8/08, down 391 on Monday, and the latest turnaround Tuesday pushed the Dow up 373 yesterday. Are we having fun yet? Have you got it all figured out? Easy, right? Welcome to the headline driven market, which seems crazy, but if you pull back a bit, there is a picture being drawn.

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Stocks opened the new week with more losses and the dip buyers didn't show up this time. The Dow lost 391-points with 1% plus losses across the board in the major indices. Trade, Hong Kong, and some economic downgrades from the likes of Morgan Stanley, who predicted that interest rates will be going to 0% again. That not a lot of faith in the economy.

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