The Blue-Chip S&P 500 index shook off recession fears and a U.S. regional banking crisis to gain 15.9% in the first half. The Nasdaq Composite for its part gained 31.7% for its biggest first-half increase in four decades. Much of the rise was from climbing the wall of worry as shorting became costly with the Cboe Volatility Index hit its lowest level since early 2020. Interesting with all the headlines that the huge advance in the stock markets is being … Continue reading “S&P 500 Mid-Year Review and Outlook for the Year Ahead (Includes AAPL NVDA XOM)”
Markets Reverse Sharply on Feds Powell Statements, What Does it all Mean?
Thirty minutes in financial markets is a long time. Markets were relieved after the Federal Reserve again raised rates by 75 bp at their November meeting. Then Chairman Powell started talking and it all collapsed. The Nasdaq went from +25.45 at 10856.15 to negative to close -366.05 points at -3.36% at 10464.65. The 10-yr note yield fell to 3.98% but jumped to 4.11% after the close of the cash session. Traders had reacted initially to the tone of possible rate hikes slowing … Continue reading “Markets Reverse Sharply on Feds Powell Statements, What Does it all Mean?”