(REMINDER: US cash markets are closed on Monday for the Independence Day holiday. Have yourself all a wondering long 3-day holiday weekend!)
The pre-market thread is now up on Reddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading on this Friday, July the 1st, 2022! https://www.reddit.com/r/StockMarket/comments/vozdx7/71_fridays_premarket_stock_movers_news/
Well a pretty good start for Q3 and H2 of the year, bond yields are moving lower as well on weaker economic data and the high expectation for a recession
Crypto firm Voyager suspends trading, deposits and withdrawals - YouTube More trouble for the crypto firms
Gooooooooood Friday evening and a happy start to the long 3-day holiday weekend to all! The market week ahead thread is now up on Reddit for anyone looking for a quick read over this coming weekend: https://www.reddit.com/r/StockMarket/comments/vpbkxp/wall_street_week_ahead_for_the_trading_week/ Next week's most anticipated earnings calendar from EW has yet to be published. Check back in here sometime over this long weekend as I'll be adding the earnings calendar as a new post here once it is officially out (typically on Saturday morning). In the meantime, here are some of the the highest vol earnings for next week. Have yourself an absolutely splendid weekend and a very happy 4th of July with family and friends y'all's! And here's to another crazy awesome trading in the new week. Get that moola! Will catch up with y'all's same bat time, same bat channel bright and early in the AM on Tuesday.
As promised here are next week's most anticipated ERs per EW. Nothing much doing for this week with the holidays, etc. Earnings season will be getting going in earnest in a couple of weeks from now.
Top of the morning Stockaholics! Happy Tuesday to you all! And welcome to the new trading day of the week, and a frrrrrrrrrrrrrrrresh start. Here is a quick check on those futures as we are a little under 3 hours from the cash market open. GLTA on this Tuesday, July the 5th, 2022.
Morning Lineup - 7/5/22 - Back to "Normal" Tue, Jul 5, 2022 Bulls checking the market before they went to sleep last night probably breathed a little sigh of relief that futures were higher following Friday’s rally. At least they slept OK. Waking up this morning, those dreams of gains turned into the reality of losses, and stocks are poised to open back up in the red for the quarter. Welcome back to 2022. Recession fears are front and center again this morning, especially in Europe as concerns of natural gas shortages heading into the winter months put the likelihood of recession as near certain with the only question being how long and how deep. On the calendar today, the only economic reports of note are Factory Orders and Durable Goods at 10 AM. July 4th is usually a period when Americans are brimming with patriotism and that possibly helps to explain why equities have historically performed so well during the holiday week. In the post-WWII period, the S&P 500 has had a median gain of 0.88% during the July 4th holiday week with positive returns over 70% of the time (71.4%). The two best July 4th holiday weeks were in 2010 (5.42%) and 4.02% just two years ago in 2020. As shown in the chart, the S&P 500 heads into this year with a six-year run of positive returns during July 4th week, but that pales in comparison to the 19-year run from 1951 through 1969 when the S&P 500 averaged a 1.79% average weekly gain. With the S&P 500 down just under 20% heading into this week and down 2.2% last week, will the patriotism of July 4th be enough to offset the pessimism regarding the market and economy? It's going to be tough. The table below lists the seven prior years since WWII that the S&P 500 was down more than 10% heading into July 4th week. In those seven years, the S&P 500's average performance during the July 4th week was a decline of 0.56% (median: -0.75%) with positive returns just two out of seven times.
The pre-market thread is now up on Reddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading on this Tuesday, July the 5th, 2022! https://www.reddit.com/r/StockMarket/comments/vrx06r/75_tuesdays_premarket_stock_movers_news/
I want the 3600 level--not this 3700 to 3800 level crap--it could rally, but it should not have hit 3750's today. But, it's a sign [to me] that the 3600 level is not out of the picture. At this 3809 price point, the bulls should be seeing this as a glorious opportunity to load up. But it's not happening. That to me is suggestive.
I think we'll get lower levels, but maybe not this month. Certainly, foreign markets were making new lows, and semiconductors (particularly foreign ones, ASML & TSM) kept going lower these last few days. It's a volatile rally.
Yeah what a reversal today Too bad I got busy after the holidays and didn't have time to monitor the market much today ASML shares fall on report US wants to restrict sales to China | Reuters Looks like ASML is on the news today, I am guessing Biden is ready to ease some tariffs from China soon but wants to throw some news out there to act like he will continue to be tough on China
OK I would say the lower bonds yields probably can take a lot of credits for the reversal today, the ARK names/biotech/some Chinese stocks are having a good day and they are in the bear market way longer than the big cap value names so it wouldn't be surprising to see the bear market ending for them first Oil finally crashing, I guess it might be a good sign since I don't think we can end the bear market without oil crashing down from the highs
Top of the morning Stockaholics! Happy Hump Day to you all! And welcome to the new trading day and a frrrrrrrrrrrrrrrresh start. Here is a quick check on those futures as we are a little over 3 hours from the cash market open. GLTA on this Wednesday, July the 6th, 2022.
The pre-market thread is now up on Reddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading on this Wednesday, July the 6th, 2022! https://www.reddit.com/r/StockMarket/comments/vso8yt/76_wednesdays_premarket_stock_movers_news/
Morning Lineup - 7/6/22 - Negative But Stable Wed, Jul 6, 2022 Stocks are poised for a lower open this morning, oil prices are clinging to $100, and the 2s10s yield curve is modestly inverted. While equity futures have been lower all morning, they have been trading in a relatively tight range. That's likely to change at around 10 AM Eastern with the release of the ISM Services report and the May JOLTS report. Then at 2 PM, we'll get the release of the Fed minutes from the June meeting. Less than a month ago today on June 8th, the S&P 500 Energy sector was up over 65% YTD, up more than 60 percentage points more than the next closest sector, and 90 percentage points ahead of the worst performing sector (Consumer Discretionary). Since then, Energy stocks have come crashing back down to earth, and while it remains the only sector up YTD, its lead over other sectors has narrowed. With a YTD gain of 28.1%, the Energy sector ETF (XLE) leads the next closest sector, Utilities, by nearly 30 percentage points and still has a lead of nearly 60 percentage points over the worst-performing sector – Consumer Discretionary. When we look at how far the Energy sector has declined from its 52-week high and compare that decline to how far other sectors have dropped from their 52-week highs, Energy is no longer a standout. In fact, with Energy down 25.3%, it has now declined more from its 52-week high than the S&P 500 has declined from its high (-20.4%). Of the eleven sectors, only three – Technology (XLK), Consumer Discretionary (XLY), and Communication Services (XLC) – have seen larger drawdowns from their respective highs than the Energy sector. Investors tend to view their holdings from the lens of where they are trading relative to their peaks. With Energy now down just as much or more than most other sectors, plus the fact that a lot of inflows into the sector likely came closer to the June high, even the one sector that has been a bright spot for the market is probably not making too many investors happy these days.
Top of the morning Stockaholics! Happy Thursday to you all! And welcome to the new trading day and a frrrrrrrrrrrrrrrresh start. Here is a quick check on those futures as we are a little over 3 hours from the cash market open. GLTA on this Thursday, July the 7th, 2022.
The pre-market thread is now up on Reddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading on this Thursday, July the 7th, 2022! https://www.reddit.com/r/StockMarket/comments/vth57n/77_thursdays_premarket_stock_movers_news/
Morning Lineup - 7/7/22 - Out Thu, Jul 7, 2022 Given the state of politics on both sides of the Atlantic, most would probably take issue with Churchill's description of the political process, especially the second part. Anyways, it's always interesting to see instances where a CEO announces his or her resignation from a company and its stock rallies. How must the individual leaving the company feel watching the market cap of the company rise now that they're gone? Talk about a lack of a value-add! Anyways, as bad as it must make a CEO feel, how must Boris Johnson feel today that British stocks and the pound are all rallying on news of his resignation? There's a reason you need a thick skin to be successful in politics. Stocks aren't just rallying in Europe this morning as major indices around Europe and the world along with US futures are all in positive territory. The S&P 500 has been higher in each of the last three trading days, and if early gains hold today would be the fourth straight day of gains. In order to get there, though, we'll have to get through Jobless Claims at 8:30, Energy inventories at 10:30, and then two Fed speeches from Waller and Bullard this afternoon. Jobless claims came in at 235K which was slightly higher than expected and the highest level in nearly six months. As mentioned above, if today's early gains hold today would be the fourth straight day of gains for the S&P 500. That may not sound all that impressive (it isn't), but in a year like 2022, it is enough to be tied for the longest winning streak of the year. Earlier this year in Q1, there were three other streaks of similar duration, but in Q2, the best the S&P 500 could do was three days.
