Daily Market Commentary

Stocks continued to pullback from the recent highs as investors, who had turned quite bullish in recent weeks, are now starting to question the rally, and that may be triggering some profit taking after the big 2023 gains. The Dow, up over 300 to start the day, closed with a loss of 249-points, near the lows of the day. Small caps lagged with a loss well over 1% and the I-fund held up well as the dollar was down. Bonds were down sharply as yields reversed a morning drop by spiking higher into ...

Stocks pulled back on Wednesday erasing most of Tuesday's gains but they are still near the recent highs and above, but testing, some key short-term support levels. The Dow lost 208-points on the day and the broader US indices lost 1% or more. The I-fund led with a smaller loss while bonds and the F-fund moved slightly higher.

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If you didn't like what you saw during the trading day yesterday, you just had a to wait a few minutes and it probably changed. It was quite the whipsaw day as two separate Federal Reserve members gave opinions, and they didn't necessary say the same thing. Where does that leave us? Jerome Powell is the go to member and had the final say, but with the Dow was down triple digits in early trading, up triple digits in the early afternoon, down triple again a half hour later, and finally closed up ...

Stocks opened the new week sharply lower, but stabilized rather quickly as the S&P 500, down about 17-points near the open, traded in a tight 10 - 15 point range for most of the day afterward, closing down 25. The Dow was down for a third straight day, the Nasdaq, the I-fund, and the Transports lost about 1% each, and small caps lagged with the Russell falling 1.4% and the S-fund gave up 1.23%.

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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 ...