Vica Partners 
MARKETS The Federal Reserve will no longer need to raise interest rates as aggressively as most government reports indicate little to no financial surprises. Indexes continue to recover supported by “on forecast” pricing, jobs and housing statistics The S&P 500 was up 9% last month while Nasdaq has climbed more than 20% from its lows … Read more
SECTOR TRENDS For the past 45 days, five of the largest U.S. banks have outperformed the S&P 500’s 13% gain. Goldman Sacs GS and Morgan Stanley MS, are up 19%, Wells Fargo WFC is up 18%, Citigroup and Bank of America about 17%. Vica overweight rating issued below Applies to Goldman Sacs and Citigroup
INDUSTRY REPORT SERIES Existing home sales in the US declined 5.9% to a seasonally adjusted annual rate of 4.81 million in July of 2022, the lowest since May of 2020 and below market expectations of 4.89 million. Sales declined for a sixth consecutive month, reflecting the impact of the mortgage rate peak of 6% in … Read more
GOVERNMENT REPORT SERIES In the week ending August 13, the advance figure for seasonally adjusted initial claims was 250,000, a decrease of 2,000 from the previous week’s revised level. The previous week’s level was revised down by 10,000 from 262,000 to 252,000. The 4-week moving average was 246,750, a decrease of 2,750 from the previous … Read more
GOVERNMENT REPORT SERIES PRESS RELEASE IN FULL For release at 2 p.m. EDT July 27, 2022 Recent indicators of spending and production have softened. Nonetheless, job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and … Read more
Sector Notable performance: over the last 3 months, Walmart (WMT) has outperformed the Consumer Defensive Sector by 1.07 %. Company Profile America’s largest retailer by sales, Walmart operated over 10,500 stores under 46 banners at the end of fiscal 2022, selling a variety of general merchandise and grocery items. Its home market accounted for 82% … Read more
MARKETS The yield on the benchmark 10-year Treasury note rose just over 8 basis points to 2.904%, while the yield on the 30-year Treasury bond traded up 5 basis points to 3.158%. The yield on the shorter-term 2-year Treasury note was last up more than 10 basis points at 3.352%. The U.S. dollar also gained … Read more
MARKETS Investors take advantage of recent gains while the markets awaits minutes from the Federal Reserve’s July meeting Release today of the minutes from their July 26-27 policy meeting will give direction of size of future rate hikes Federal Reserve officials will keep raising interest rates until high inflation is under control. Mixed retail … Read more
MARKETS China unexpectedly cuts key rates as economic data and renews global recession fears. China’s July refinery output lowest since March 2020. Expect Monday market recovery and focus on Week ahead job reports Ignore most of stories as index should recover later today and focus on upcoming US domestic Government job reports.
REPORT SERIES Look for market volatility next Week on Wednesday the 17th with retail sales reports and Thursday the 18th with job reports. AUGUST 15th THRU 19th CALENDAR TIME (ET) REPORT PERIOD ACTUAL … Read more