Matthew Krumholz MARKETS TODAY March 10 (Vica Partners) Overview A ‘good Friday to all, Yesterday Founders Fund, tech billionaire Peter Thiel, advised companies to withdraw holdings from SVB Financial (SIVB) due to concerns about financial stability. By early afternoon the news sent major indices lower by >2% and exposing a systemic Financial Sector issue as a … Read more
MARKETS TODAY March 9 (Vica Partners) Overview Happy Thursday! Chair Powell’s message to Congress this week has been, “the latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated”. A late day rally helped eek out small gains … Read more
MARKETS TODAY March 8 (Vica Partners) Overview A good Wednesday to all! Yesterday, Fed Chair Powell hawkish testimony to Congress renewed the markets rate hike concerns and a possible accelerated 50bps move. Indexes retreated as S&P 500 ended the session down 1.5% and reversing last Friday’s gains. The yield curve moved deeper into inversion, … Read more
MARKETS TODAY March 7 (Vica Partners) Overview Happy Tuesday! S&P futures premarket were unchanged with Asian markets mixed overnight. Crude and Metals markets were down following a China import data miss, where imports declined Jan-Feb by 10.2% on a 5.1% forecast. In economic news today, US wholesale inventories in January declined by 0.4% from … Read more
MARKETS TODAY March 6 (Vica Partners Overview Through the first week of March the three major US indexes finished with gains on average of 2%, boosted by strong business/ services activity. Over the weekend global markets reacted positively as China set a 5% yearly GDP target. The Fed Team reiterated it’s 2% inflation target and … Read more
MARKETS TODAY March 3 (Vica Partners) Opening Commentary ISM services headline number bested expectations with U.S. business gains in February, reaching its highest level in eight months. U.S. services sector saw new orders and employment hit 12 month highs. As for equities the Information Technology sector was up 2.04%, with C3. AI up +33% at … Read more
MARKETS TODAY March 2 (Vica Partners) Opening Commentary Markets were off to negative start this morning as jobs and labor data came in significantly higher than market estimates, renewing interest rate hike fears. Following the reports we had some strong retail earnings releases plus the uptrend in Materials with China re-opening and a Fed Hawkish … Read more
MARKETS TODAY March 1 (Vica Partners) Opening Monthly March Commentary Over the last 50 years, Oct thru Jan have been the best time to buy stocks, with each month averaging between 1% and 1.6% per month gain on the S&P 500. Historically, the stock market tends to gain in the first half of the month … Read more
MARKETS TODAY Feb 28 (Vica Partners) Session Overview Economic data mostly soft and better than expected Indexes fall as they give back early session gains, Dow leads decliners Yields rise 9 of 11 S&P sectors lower: Utilities and Energy underperformed/ Materials and Financials outperformed Target (TGT), Bayer AG PK (BAYRY), AutoZone (AZO) with solid earning … Read more
MARKETS TODAY Feb 27 (Vica Partners) DOW (^DJI) 32,889 (+72), S&P 500 (^GSPC) 3,982 (+12) Nasdaq (^IXIC) 11,467 (+72), Russell 2000 (^RUT) 1,895 (+4), NYSE FANG+ (^NYFANG) 5,466 (+74), Brent Crude $82.33/barrel (-$0.83), Gold $1,817/oz (+$5), Bitcoin $23.3k (-$246) Session Overview US. core capital goods orders w/ largest gain in 5 months, Durable goods miss … Read more