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Stocks opened sharply higher but an earnings warning from chip making Nvidia spoiled the bulls' fun on Monday. The Dow managed to hold onto a small gain but the S&P 500 and Nasdaq floundered and drifted negative after the news, while small caps ignored it and raced higher. Bonds were up and and the dollar was down slightly. All eyes are now focused on Wednesday's CPI report.

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Stocks recovered from an early sell-off after the release of the July jobs report on Friday morning. The report saw a gain of 528,000 jobs or more than doubled the estimates, and it shook up the economic picture as the country debates whether or not the economy is in a recession. The indices closed near the highs of the day after the morning decline, but in this environment with the Fed trying to fight inflation, is a giant beat in the jobs data really what the stock market wants to see? The

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Stocks were in digestion mode on Thursday after Wednesday's big rally, and the consolidation continues in this same area that we saw in early June. The Nasdaq led and posted a modest gain but the other indices were slightly lower. Bond prices were up (yields down) and the dollar was down so Tuesday's knee-jerk reaction has been reversed in both.

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Stocks exploded higher on Wednesday and the headlines suggest some stronger than expected economic data, but bond yields gave up a big early gain so it didn't seem overly related to the data. It could have been some old fashioned FOMO (fear of missing out), or possibly triggered by some Fed comments, but that Fed talk didn't sound all that encouraging, so it was more of a head scratcher rally to me. The Dow gained 416-points, about 100-points off the highs as we did see some selling late into

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Stocks once again chopped around between gains and losses on Tuesday, closing weakly and near the lows of the day driven by some Fed talk, which we'll go over below. The Dow lost 401-points taking the brunt of the losses. The broader indices did much better with small caps actually up few ticks. The dollar and bond yields rallied sharply which put a lot of pressure on the I-fund and the F-fund.

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