Daily Market Commentary

It was a slow but volatile day for stocks to start the week. The Dow gained a point, giving up a solid triple digit gain late. The broader indices were mixed as large tech stocks held back the Nasdaq and S&P 500, while small caps held onto a moderate gain. Bonds were up as yields backed off slightly from Friday's big move higher. The dollar was relatively flat but the chart looks troublesome.

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Despite a small loss in the Dow, stocks were quite strong on Friday, and the S&P 500 was up four out of five days last week triggered by big name earnings reports. Friday's initial catalyst for the rally was earnings from Amazon, while a big jobs report may have been too hot for the market. The one down day last week was a doozy when the S&P lost 112-points after Meta (Facebook) reported. The jobs report sent yields higher on Friday, so the volatility continued and we come into the new ...

Thursday was another session where the story during the day was turned on its head in the after hours trading. The Dow lost 518-points on the day, but the 112-point loss in the S&P 500 was cut in half after hours when we got strong earnings out of Amazon. So what you see below may not be what is happening right now. It's a fast moving market. Bonds yields were up sending bond prices down, and the dollar continues to break down.

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A top heavy rally for the stock market yesterday may have created some FOMO, but if you were listening carefully you could hear a sucking sound as they reeled in investors despite many negatives that didn't show up in the indices. The Dow gained 224-points, and the S&P 500 gained almost 1%, thanks to the big gain in Alphabet (Google). If you take out Google, it wasn't so so good. Plus we had some after hours trouble that could pose a problem for stocks today. The dollar was down and bonds ...

Stocks were floundering in the early session on Tuesday, but a rally ignited in the afternoon. Being the first day of a new month, it's not unusual to see new money coming into the market, hence the tendency for the first day to do well. The Dow ended the day up 237-points, and the other two major indices were in that same percentage gain area. The I-fund and small caps outperformed. The dollar was down again, and bonds were mostly flat.

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