Political risk and economic data are hammering foreign stocks, but headlines have been more positive for U.S. regional banks.
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In Case You Missed All the IPOs
Technology has dominated IPOs recently, but some energy names and a yoga-themed hotelier have also surged of late.
Don’s Notebook May 1, 2018
The Institute for Supply Management (ISM report) came in lower than Street consensus at 57.3 (vs. estimates of 57.5-60.) This survey asks purchasing managers about the general direction of production, new orders, order backlogs, their own inventories, customer...
Stocks advance but hit resistance
So much for a breakout in the S&P 500. The index began last week on a strong foot, only to stall at the top of its range since mid-March. Sellers materialized each afternoon to prevent the index from closing at its highs. Without that resistance, the S&P 500...
Suddenly energy is flying
Energy's gone from forgotten to en fuego quicker than you can say "missiles over Damascus." Crude oil (@CL) hit $67.45 this morning, its highest level in 2-1/2 years. It's up almost 8 percent on the week, its biggest three-session rally since December 2016. There are...
Suddenly the Bears are in Retreat
Stocks recovered from early losses last week as interest rates stabilized and money streamed into tech. A Friday-afternoon surge landed the S&P 500 back above its 50-day moving average, resulting in a 0.55 percent gain for the holiday-shortened span. The...
Massive Rotation Underway as Optimism Spreads
Some people may confuse energy and utility stocks, but they're not likely to make that mistake right now. Energy's up 4.5% in the last week, compared with a 4.8% drop for utilities over the same time frame. The resulting 9.3 percentage-point difference is the widest...
Elliot Wave Still Flowing Higher: A Pro’s Insight
Bullish, bullish, bullish. That was the message from a widely followed market pro this morning. "We do have higher highs coming," Bennett McDowell of TradersCoach.com said on today's Morning Market Briefing. "At this time we're in Elliott Wave 3 on the 60-minute...