Demand more. Yesterday, resilient stocks traded modestly higher, tipping their hats to the real custodians of the economy: the consumer. Just a day after the stock markets’ worst day of the year, fear dissipated in response to stronger than expected economic numbers. MY TWO CENTS A never ending appetite for stuff. My regular readers…
Thin ice. Stocks were trounced yesterday as heightened recession fears crept into the markets with a yield curve inversion. There was no good news to be found yesterday and risk investors headed for the exits. MY TWO CENTS Which end is up? As reported here yesterday morning, the spread between 2-year treasuries and…
Just kidding. Markets went on a roller coaster ride first falling then skyrocketing after the President’s team announced that some tariffs on China would be delayed. Markets opened lower on the heels of global tensions but quickly made an about-face after the Administration reversed course on trade… temporarily. MY TWO CENTS Santa Claus in August??…
A bloody race to the bottom. Stocks were hammered yesterday as geopolitical risks around the globe mounted. Trade war concerns were combined with increased tension in Hong Kong causing traders to sell stocks. MY TWO CENTS Don’t cry for me Argentina… Yesterday’s wild market rout was accentuated by a little followed story bubbling…
Never a dull moment. Stocks, unable to escape negative soundbites from the President, ended the week on a down note. Stocks traded off on Friday as President Trump warned that talks scheduled for September with China might not happen. MY TWO CENTS The current state of affairs… foreign affairs. After a week…
About face. Stocks jumped yesterday as China fixed its currency at the weakest point since 2007, but not as bad as the market was expecting. China’s greater-than-expected currency fixing combined with better-than-expected export data eased trade jitters and stock traders celebrated by bringing indexes into the black for the week. MY TWO CENTS…
Crazy hazy days of summer. Stocks swung wildly yesterday opening in the red and clawing their way into the black. Fears of global economic slowdown brought on by central bank easing gave way to dip buying. MY TWO CENTS Make up your mind! Yesterday’s bipolar market underscores the confusion on the part of traders in…
Temporary relief of pressure. Stocks rallied yesterday, breaking a losing streak, as China quelled fears and sellers were exhausted. China’s promise to keep the Yuan from falling further gave traders the cue to buy the dip. MY TWO CENTS The pain is far from over. In the wake of a disastrous 4-day selloff, sellers…
Counterpunch! Risk assets were trounced yesterday in response to some aggressive moves by China. China fought back and traders finally opened their eyes to the reality of a trade war. MY TWO CENTS It’s not magic, it’s manipulation. As reported here yesterday morning, China hit back with a one-two punch by suspending agriculture…
Wrong way! Stocks sold off on Friday, despite solid employment figures, in response to trade tensions brought on by Trump’s newest tariff threat. Employment numbers coming in largely as expected were not enough to divert attention away from a deteriorating trade situation with China. MY TWO CENTS Stuff** is getting real now. As…
