Traders Market Weekly: Naive Markets and The Fed Fortune Tellers

Viewing 12 posts - 91 through 102 (of 102 total)
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    HighPeak Energy (HPK 16.93, +1.05, +6.6%): CEO bought 500000 shares at $16.55-16.59 worth ~$8.284 mln


    Amazon (AMZN 130.75, +1.46, +1.1%): provides Prime Video update – starting in early 2024, Prime Video shows and movies will include limited advertisements


    Semiconductor stocks outperform

    Semiconductor stocks are outperforming the broader market. The PHLX Semiconductor Index (SOX) is up 1.6%. NVIDIA (NVDA 420.14, +9.97, +2.4%) is a top performer from the space.

    CBOE Volatility Index is down 7.6% or 1.34 to 16.20.


    Fed Governor Bowman (FOMC voter) said in a speech that she thinks “it will likely be appropriate to raise rates further and hold them at a restrictive level for some time.”

    Boston Fed President Collins (not an FOMC voter this year or 2024) said further tightening is not off the table and that the recent statement does not imply the Fed has reached the peak fed funds rate yet;


    UAW confirmed reports that progress has been made on labor talks with Ford (F 12.51, +0.31, +2.6%), but indicated that Stellantis (STLA 19.42, +0.09, +0.5%) and General Motors (GM 32.63, -0.08, -0.2%) are going to need “serious pushing.”

    Consequently, the UAW extended its strike to all GM and STLA parts and distribution centers beginning at noon ET.


    Preliminary September S&P Global US Manufacturing PMI, which improved from August (actual 48.9; prior 47.9), but was still indicative of contraction (i.e. below-50 reading).
    The S&P Global US Services PMI, meanwhile, still reflected expansion, but fell to 50.2 in the preliminary September reading from 50.5 in August.


    Ten of the 11 S&P 500 sectors are trading up, led by the heavily-weighed information technology sector (+1.1%). The financials sector (-0.2%) is the lone laggard in negative territory.

    Today’s positive bias is fueled in part by a buy-the-dip mentality after this week’s broad based losses.

    The rebound effort is being helped by the price action in the Treasury market. The 2-yr note yield is down three basis points to 5.11% and the 10-yr note yield is down four basis points to 4.44%.

    Notably, market rates are lower despite some hawkish-sounding remarks from a few Fed officials.


    Dow -19.56 at 34051.36, Nasdaq +56.37 at 13280.36, S&P +7.50 at 4337.58

    DJIA UnitedHealth (UNH 507.85, +6.71, +1.34%), Apple (AAPL 175.72, +1.79, +1.03%), and Chevron (CVX 166.53, +1.34, +0.81%) are atop the standings.

    Walgreens Boots Alliance (WBA 21.11, -0.34, -1.59%) is at the bottom of the average.

    The DJIA on pace to lose -1.64% this week.


    Ohhh the humanity – as STOCKS have turned slight RED after good start this morning



    Dow 33,963.84 -106.58 -0.31%
    S&P 500 4,320.06 -9.94 -0.23%
    Nasdaq 13,211.81 -12.18 -0.09%
    VIX 17.20 -0.34 -1.94%
    Gold 1,944.60 5.00 0.26%
    Oil 90.35 0.72 0.80%


    September 24 – 30, 2023 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… Read m
    [See the full post at: Traders Market Weekly: Naive Markets and The Fed Fortune Tellers]

Viewing 12 posts - 91 through 102 (of 102 total)
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