Market Wrap – Energy Gushes Higher. June 7, 2022

Today’s stock market was another sharp reversal from ‘in the hole’ as the bear market rally continuation still holds, S&P 500 failed to penetrate the May 27 low 4077.43 on its opening decline at 4080.19 and up it went. Negative news early with $TGT warning just 3 weeks after earnings and Gasoline and Natural gas prices surging which also sent multiple energy stocks to 52 week and all-time highs. Today’s best-performing sector was the energy sector (+3.1%), which is now … Continue reading “Market Wrap – Energy Gushes Higher. June 7, 2022”

Market Wrap – Microsoft Warns, Bulls Say Thanks for Coming June 2, 2022

Today’s market rallied hard for most of the day into tomorrow’s NFP after shrugging off a fiscal Q4 earnings warning from Dow component Microsoft (MSFT 274.58, +2.16, +0.8%) before the open who shared in an 8K filing that it now expects fiscal Q4 EPS to range from $2.24-2.32 versus its prior guidance of $2.28-2.35. From there major indices all closed at their best levels for the session, gaining between 1.3% and 2.7%. In turn, the CBOE Volatility Index dropped 4.2% to 24.62 … Continue reading “Market Wrap – Microsoft Warns, Bulls Say Thanks for Coming June 2, 2022”

Market Wrap – Amber Alert for Markets as QT Kicks in, June 1, 2022

June kicks off with QT with the stock market major averages finishing near yesterday’s lows. The S&P 500 lost 0.8% and the Russell 2000 lost 0.5%. That little Crypto rally ran out gas pretty quickly, Bitcoin fell back through $BTC $30,000 to be down 6.25% on the day. The financial sector (-1.7%) underperformed throughout the day after rallying off a 13-month low at the end of May. Energy (+1.8%) added to its gain as the session went on supported by … Continue reading “Market Wrap – Amber Alert for Markets as QT Kicks in, June 1, 2022”

Market Wrap – Catching That Summer Wave May 31, 2022

Last Day of May coming in after Memorial Day markets were very much getting ready for Summer. Oil was all the chatter early, WTI prices turn negative under $115 after testing $120.00/bbl on EU’s agreement to ban 90% of Russian crude imports by the end of the year. U.S. Treasuries ended Tuesday negative territory led by the10-yr note. Fed Chairman Powell met with President Biden today and was reportedly assured that the White House will give the Fed space to … Continue reading “Market Wrap – Catching That Summer Wave May 31, 2022”

Market Wrap – Bulls Run for Second Day May 26, 2022

Energy stocks were banging new highs all morning as natural gas headed back to test that $9.399 high before selling off with expiration and EIA in the mix. Stocks continued on from yesterday’s run. A reversal from $NVDA coupled with better-than-expected guidance from retailers fed the bull. Macy’s (M 22.92, +3.71, +19.3%), Dollar General (DG 222.60, +27.26, +14.0%), Dollar Tree Stores (DLTR 162.80, +29.21, +21.9%), and Williams-Sonoma (WSM 129.70, +14.72, +12.8%), We look at the indices, $AAPL $TSLA $NVDA $DG $WSM Gold, Copper, BTC, ETH, Natgas and oil … Continue reading “Market Wrap – Bulls Run for Second Day May 26, 2022”

Market Wrap – Natural Gas on Fire Fuels Energy Stock Rally May 25, 2022

Natural gas hit a high of in the front month of $9.399 the highest since 2008 with worries that fragile supplies may prove inadequate to meet summer cooling demand and U.S. exports. Bottom pickers remain out there in the stock market with another rebound attempt after the release of the Minutes for the May FOMC meeting. Small-cap and mid-cap stocks attracted the punters, the Russell 2000 increased 2.0% and the S&P Midcap 400 Index increased 1.9% versus gains of 1.0% … Continue reading “Market Wrap – Natural Gas on Fire Fuels Energy Stock Rally May 25, 2022”

Market Wrap – Snap Goes the Market May 24, 2022

Another day another bear market rally wrecked, this time by DDD member $SNAP who fell 42% after warning. The Nasdaq Composite was down as much as 3.8% and finished of 2.4%. The S&P 500 was down 2.5% and closed 0.8%. Again, the bottom pickers were out. Small-cap specialty apparel retailer Abercrombie & Fitch was also wrecked (ANF 19.03, -7.70, -28.8%) reporting disappointing fiscal Q1 results and issued disappointing guidance, citing higher costs and lower sales due to an assumed inflationary impact on … Continue reading “Market Wrap – Snap Goes the Market May 24, 2022”

Market Wrap – No Fear for Market Bottom Pickers, Oil Bounces Hard May 19, 2022

Markets ran at two speeds today the consumer staples sector (-1.5%) was down the most, Phillip Morris International (PM 100.1, -6.10, -5.8%). Continued bleeding in Walmart (WMT 119.07, -3.41, -2.8%) and Target (TGT 153.43, -8.18, -5.1%) Small cap stocks saw some bids and rallies as the speculative end of the market continues to be influenced by FOMO despite the risk. The Russell 2000 (+0.1%) closed slightly higher with the other indices lower. Crude Oil Futures bounced hard from a low of $103.24 the July WTI closed up … Continue reading “Market Wrap – No Fear for Market Bottom Pickers, Oil Bounces Hard May 19, 2022”

Market Wrap – Target in an Attack of the Dribblers Crashes Nasdaq, May 18, 2022

Yesterday the markets continued with no fear in a FOMO bear market rally despite Walmart’s biggest daily fall since 1987 and Fed chair Powell reiterated raising rates and cutting free credit. The dribblers laughed and danced as their stocks squeezed. Today Target $TGT came in for the 1-2 to close at ‎-53.67 (‎-24.93%) also the biggest daily fall since 1987 None of the Dow 30 stocks closed positive on the day, the DJIA closed down -1164.52 points or -3.57% at 31490.06. … Continue reading “Market Wrap – Target in an Attack of the Dribblers Crashes Nasdaq, May 18, 2022”

Market Wrap – Walmart Trashed as Powell Came and Went May 17, 2022

The stock markets continued with no fear in a FOMO bear market rally. All this when Walmart had it’s biggest daily fall since 1987 and Fed chair Powell reiterated raising rates and cutting free credit. Never mind, the S&P 500 rose 2.0% on Tuesday, Nasdaq Composite (+2.8%) and Russell 2000 (+3.2%) while the Dow Jones Industrial Average rose 1.3%. Total retail sales increased 0.9% month-over-month in April (consensus 1.1%) following an upwardly revised 1.4% increase (from 0.5%) in March. The … Continue reading “Market Wrap – Walmart Trashed as Powell Came and Went May 17, 2022”