Earnings Ignite Rally Fears over inflation, supply shortages, and slowing economic growth in China were pushed aside last week as investors reacted to a daily succession of positive corporate earnings surprises. After the Dow Industrials reached an all-time high intraday on Wednesday, fresh earnings reports, an increase in existing home sales, and a new pandemic […] READ MORE
Debt Ceiling Concerns Evaporate, for Now After suffering losses on concerns over delays with raising the federal debt ceiling, stocks rebounded as the Senate moved toward finalizing a debt ceiling agreement. While the agreement is only a short-term solution, it was enough to embolden investors to buy stocks. The week’s rally ran out of gas […] READ MORE
Stocks Struggle Despite a string of economic reports painting a healthy picture of the U.S. economy, investor sentiment remained cautious. While tamer inflation and higher-than-expected retail sales may typically be constructive for the market, any investor enthusiasm it generated was fleeting. The market appeared all week to be encumbered by a tentative, apprehensive mood. […] READ MORE
Stocks Weaken In a holiday-shortened week of trading, markets were choppy as investors grew cautious in the face of a potential Fed tapering decision later this month and the impact of Delta on the economic recovery. What little news there was, it was decidedly mixed. Job growth showed real strength coming off a shaky employment […] READ MORE
Pushing Higher Stocks surged to begin the week as investor sentiment improved on news of the FDA’s approval of its first COVID-19 vaccine, a strong housing number and comments by the Federal Reserve Bank-Dallas president that he would support delaying tapering if the Delta variant spread worsened. Stocks continued their climb through midweek, pushing the […] READ MORE
Delta Variant Head Fake Stocks staged a broad retreat on Monday as traders worried about the adverse economic implications of growing Delta variant infections. Economically sensitive sectors, such as energy, financials, industrials, and materials, absorbed the brunt of Monday’s sell-off. But the markets did a quick about face, posting four-consecutive days of gains and leaving […] READ MORE