Daily Market Commentary

Stocks opened sharply lower on Thursday as investors digested the disappoint earnings announcement from Meta, a large capital gains tax increase proposal from President Biden, and a GDP report that came in weaker than expected but also showed some heightened inflation concerns. Most of the indices closed in negative territory but technically it may be considered a positive reversal day. The Dow was down over 700-points in early trading and it cut that in half by the close, and the other indices ...

Stocks were mostly flat on Wednesday but some shaky earnings after the bell from Meta and IBM may be setting a negative tone for the opening bell today and the relief rally will be put to the test early. The action was fairly flat with the indices closing well off the lows and the highs of the day, and landing somewhere in neutral territory for a pause in the rally. Bonds were down as yields inched higher.

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Stocks continued their rebound off of Friday's lows yesterday and the TSP stock funds all gained over 1% on the day, with small caps adding closer to 2%. The Nasdaq was up 1.6% despite heading into beleaguered Tesla's earnings after the bell yesterday. Yields and the dollar were down yesterday helping take the pressure off stocks, but they remain in a range and that's good enough for investors right now.

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Stocks opened higher on Monday with a gap up opening, which came within 2 points of closing within an hour or so, but the bulls bought that morning dip and it led to a nice comeback day for the stock market. It was an overdue, oversold, rebound but it held, and that's more than we could say for last week's action. The S&P 500 gained 43-points, but that was almost 30-point off the afternoon highs so we did see some late selling again - just not enough to spoil the bulls' rare April rally. ...

Stocks opened flat on Friday after a sharp overnight sell off in the futures had completely recovered by the opening bell. However, the selling pressure resumed once trading began. Big tech is taking the brunt of the selling as it took the Nasdaq and S&P 500 for a bearish ride. Meanwhile, away from big tech, the Dow, the Russell 2000 small caps, and the Transportation Index were all up on the day, so what has been leading on the way up, is lagging on the way down.

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