Initial thoughts on today’s reversal
The market is reversing the FOMC fueled ramp and more. Clearly, the bond market doesn’t like what they heard and have reacted in a dramatic way.
Read MoreSo much for Wednesday’s bounce
Stocks are taking a beating in early trading following the biggest one-day gain in the S&P 500 Index (SPX) in almost two years.
Read MoreProductivity dropped like a stone
The Bureau of Labor Statistics (BLS) reported that first-quarter productivity had a sharp drop from Q4/21.
Read More% of stocks above the moving averages
The percentage of S&P 500 Index (SPX) stocks trading above the 10 & 50-day moving averages surged higher on the biggest one-day gain in the SPX in almost two…
Read MoreEarly Thursday look
S&P equity futures are trading below Wednesday's close amidst a positive session in Europe and a mixed close in Asia overnight (Japan still closed for holiday).
Read MoreThat was some rally
Stocks had some difficulty picking a direction in early trading, with the major indices opening higher but drifting into negative territory by mid-morning.
Read MoreInitial reaction to Fed and press conference
As our earlier post highlighted, the Fed raised rates 50-basis points and announced their balance sheet reduction plan.
Read MoreFed hikes 50bp as expected
At the May meeting, the FOMC authorized a 50 basis point hike to the Federal Funds Rate, as had been broadly expected.
Read MoreQuick thought on QT
I have had a few questions about our expectation of what the reduction in the Fed’s balance sheet (QT) might mean. While QT did have a significant impact in…
Read MoreFewer jobs were added in April, according to ADP
In April, U.S. employers added the fewest number of jobs in the last two years.
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