Daily Market Commentary

What was expected to be almost a non-factor after the Fed's more dovish FOMC meeting this past week, the jobs report came out before the opening bell on Friday and it blew estimates out of the water. Of course this set off a couple of thoughts from investors, including elevating hopes that there may be less of a chance of a recession this year than most thought, but also concern that inflation may not be going away anytime soon as the Fed has been focusing on slowing down the labor market to control ...

The FOMO - fear of missing out - rally continued yesterday as the underinvested try to catch up to the indices that are running away from many of the bears. We came into this year with investor sentiment on the very bearish side so when the rally started, there was plenty of cash on the sidelines to keep the rally fueled. Add a more dovish sounding Fed and some decent earnings from Meta and the rally plowed ahead on Thursday. The Dow lagged again, but the broader indices were off to the races ...

Did the Fed pivot? The market did the Fed Flip yesterday. Stocks were lower most of the morning and once the Fed delivered their policy statement, the 0.25% rate hike, and began the press conference, the Dow was down over 500-points and the S&P was down 40+. Fast forward 15 - 30 minutes later and everything turned around. The indices did sell off in late trading to take them off their highs - perhaps profit taking as the S&P, up about 75-points at its highs, ended the day up 43, and ...

January ends with a big rally, flipping Monday's sell off around and leaving the market at a pivotal point in front of today's FOMC meeting and the highly anticipated 0.25% interest rate hike. The final hour of trading yesterday saw the indices explode into the close, which is a little suspicious heading into that rate hike, but it felt like a short squeeze as the bears, who were run over in January, may be capitulating from their bearish outlook and are worried about more upside. The Dow ...

The busy week starts off with a sell off in stocks led on the downside by tech stocks as the Nasdaq posted a 2% loss. The Dow lost 261-point. The S&P 500 (C) and DWCPF (S) both fell more than 1%, and the EFA (I) held up better despite a decent rally in the dollar. Bonds were down as yields moved up.

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