Dwight’s “Daily Dose” eNewsletter

Urgency

Topics: BlogDwight’s “Daily Dose” eNewsletter

Dow futures are up about 45 points and bond prices are slightly higher as traders get set for the FOMC news, but we did just get some economic news before the meeting.

The Consumer Price Index rose by .4%, as expected, but the core rate moved up .1% vs. the consensus of .2%. The year-over-year…

Click here to read more

It’s good to be small

Topics: BlogDwight’s “Daily Dose” eNewsletter

Dow futures are about 90 points higher in pre-opening trading. Stock trading was very quiet yesterday and there is nothing to suggest today will be any different.

Bond market snapshot

Bond prices are slightly lower to start the day after German bond yields edged slightly higher. Bond prices rallied early yesterday when German bonds rallied,…

Click here to read more

Swan song

Topics: BlogDwight’s “Daily Dose” eNewsletter

Economic report releases

Nonfarm Payrolls rose by 228k, above the expected 185k. There were no major revisions to the prior months. The Unemployment Rate was unchanged at 4.1%.  The component that bond traders cared about, hourly wages, rose by .2%. Traders feared a gain of .3%, and they are pretending this .1% variation matters. Another…

Click here to read more

Shutdown?

Topics: BlogDwight’s “Daily Dose” eNewsletter

Due date TBD

Dow futures and bond prices are close to unchanged to start the day. There was no market-moving news overnight.

Last week the goal to complete the tax bill was December 14. House/Senate leaders on Monday moved that date to 18th. The date was to the 22nd on Tuesday. Today, the only thing…

Click here to read more

Oops!

Topics: BlogDwight’s “Daily Dose” eNewsletter

Tax bill roadblocks

The Dow gained 330 points yesterday as it appeared that the Senate was near a deal to pass its version of a tax bill last night. But Dow futures are down 50 points this morning, after a low of -100, as the deal ran into some big problems last night.

Bonds were…

Click here to read more

Turkey time

Topics: BlogDwight’s “Daily Dose” eNewsletter

Going for three

Stock traders are aiming for a turkey, in bowling jargon, as they go for three in a row up days heading into Thanksgiving. Dow futures are up about 30 points in pre-opening trading. Bond prices are lower as German bond yields moved higher overnight.

Talk from Yellen

Janet Yellen spoke last night,…

Click here to read more

Steak is on the menu

Topics: BlogDwight’s “Daily Dose” eNewsletter

No market-moving news

After yesterday’s big pop in stocks and drop in bonds, both markets are close to unchanged to start the day. There was no market-moving news overnight and global markets were quiet.

Housing Starts for October have been released, and starts jumped more than 13% to an annualized rate of 1.29 million. Economists…

Click here to read more

Bad habit

Topics: BlogDwight’s “Daily Dose” eNewsletter

Escaping the holes

The stock market is falling into a bad habit. The last four days stocks have had to rebound from deep holes during the day to close modestly. Thursday the hole was 250 points and yesterday the Dow fought back from -168 points to close down 30 points. It appears another escape from…

Click here to read more

Yield curve follies

Topics: BlogDwight’s “Daily Dose” eNewsletter

Bond market snapshot

Dow futures are off by about 20 points in pre-opening trading after a quiet overnight global session.

Bond prices are slightly higher to start the morning. The 30-year bond is showing the most movement as speculators and yield curve traders focus on the long bond. Bond prices rallied early yesterday on a…

Click here to read more

Stretching

Topics: BlogDwight’s “Daily Dose” eNewsletter

Updates from Washington

Here we go again. Both stocks and bonds are little changed to start the day. Dow futures are down 20 points in pre-opening trading. There was no news overnight.

The Washington Post reported that some Senators are proposing a one-year delay on the corporate tax cut. Given that the markets are little…

Click here to read more

It’s Powell time

Topics: BlogDwight’s “Daily Dose” eNewsletter

Late news break

Both stocks and bonds are trading close to unchanged in pre-opening trading. The Fed Chairman news broke late yesterday and traders are greeting the news with a shrug.

Your new Chairman of the Federal Reserve come February 1 will be Jerome “Jay” Powell. The Wall Street Journal reported yesterday afternoon that Trump…

Click here to read more

Fun and games

Topics: BlogDwight’s “Daily Dose” eNewsletter

Economic releases

Stocks look set to start the new month with a bang. Dow futures are up 135 points, following big rallies in Asian and European markets. Bond traders are taking the stock rally in stride. Bond prices are only slightly lower.

The first of the day’s economic releases is out. ADP estimates that 235k…

Click here to read more

Breaking the rules

Topics: BlogDwight’s “Daily Dose” eNewsletter

Reaction to rumors

After yesterday’s modest selloff, Dow futures are up 30 points in pre-opening. S&P and NASDAQ futures slightly higher to start the last day of the month.

Bond prices are slightly lower after yesterday’s rally. Bond traders seized on tax bill rumors a that 5-year phase-in of the corporate tax cut might be…

Click here to read more

One more step

Topics: BlogDwight’s “Daily Dose” eNewsletter

Senate surprise

Dow futures were down sharply yesterday morning but are up sharply this morning. Dow futures are up about 100 points after the Senate surprised everyone by passing a budget bill. Bond prices are lower.

The budget is just one more step toward tax reform, and the easiest one, but it does help move…

Click here to read more

Guessing game

Topics: BlogDwight’s “Daily Dose” eNewsletter

Let’s see what December brings

Dow futures are up 30 points in pre-opening trading, and bond prices are slightly lower. There was no market moving news over the weekend.

Janet Yellen spoke over the weekend, and Yellen said it was her “best guess” that inflation would accelerate after this period of softness. That’s not exactly…

Click here to read more

Buzzkill

Topics: BlogDwight’s “Daily Dose” eNewsletter

Economic releases

Dow futures were 45 points higher and bond prices were slightly lower heading into today’s big economic releases. The data didn’t move stocks, but one report did move the bond market.  

The bigger report of the day was the Consumer Prices Index. CPI rose by .5% vs. the expected .6%. The core…

Click here to read more

Mudslinging

Topics: BlogDwight’s “Daily Dose” eNewsletter

Reactions to some name-calling

Dow futures are close to unchanged in pre-opening trading, and bond prices are higher. The bond market is getting a boost to end the nine-day old losing streak from a familiar source.

Bond prices are higher on the news last night from North Korea. Kim Jong-un personally responded to Trump’s “Rocket…

Click here to read more

Lucky

Topics: BlogDwight’s “Daily Dose” eNewsletter

Weekend outcomes

After a dismal news week last week, we got a little lucky over the weekend. Irma, while it is still making its way through Florida, is not proving to be quite the devastating storm that was feared. Early damage estimates were as high as $200 billion and are now down to $29 billion….

Click here to read more

December showdown

Topics: BlogDwight’s “Daily Dose” eNewsletter

Dow futures are close to unchanged to start the day. Global equity markets followed the U.S. rebound and are higher. There was no news of importance overnight.

Awaiting Draghi

After yesterday’s selloff on the apparent debt ceiling agreement, bond prices are slightly higher as bond traders await Mario Draghi’s press conference. Draghi will begin speaking…

Click here to read more

What’s the point?

Topics: BlogDwight’s “Daily Dose” eNewsletter

No sustainable moves

After yesterday’s big stock rally and bond selloff, Dow futures are up about 60 points in re-opening trading and bond prices are slightly lower. There were no positive developments on North Korea last night, but there was no further negative news.

Every 200 point move in the Dow this year, whether higher…

Click here to read more

Unnerved

Topics: BlogDwight’s “Daily Dose” eNewsletter

The North Korea cloud

This week might be over before it starts. The week did not look promising for activity before it begins. Congress returns to inaction this week, and there are only a few economic statistics. But even if there were some big events this week, they would likely be ignored. The dark cloud…

Click here to read more

Silence is golden

Topics: BlogDwight’s “Daily Dose” eNewsletter

A careful, measured response

Dow futures are up about 40 points in pre-opening trading and bond prices are lower after yesterday’s big turnaround. Trading was quiet last night. The 200 point swing in the Dow yesterday was on the measured response by the White House to North Korea. Traders left yesterday a little worried that…

Click here to read more

Dud alert

Topics: BlogDwight’s “Daily Dose” eNewsletter

Cohn’s comments

Dow futures are up about 80 points in pre-opening trading, and bond prices are slightly lower. The justification given for the modest early bump in stocks is a statement from Gary Cohn.

Cohn has not been heard from directly since the rumors he would depart after Trump’s Charlottesville comments, although the White House…

Click here to read more

Unpredictable

Topics: BlogDwight’s “Daily Dose” eNewsletter

Dow futures are up about 50 points in pre-opening trading after yesterday’s modest selloff. Stocks cannot sustain momentum in either direction and probably won’t be able to until we start seeing what Congress can or cannot get done in the toxic D.C. atmosphere.

Bond market snapshot

Bond prices are lower after bonds rallied for no…

Click here to read more

Trump unchained

Topics: BlogDwight’s “Daily Dose” eNewsletter

One-day norms

After yesterday’s surprising and big surge in stocks, Dow futures are down about 50 points in pre-opening trading. There was a very strong economic report from Europe, but it failed to lift those stocks and carry us along with them. These one-day rallies and one-day selloffs have become the norm. Bond prices are…

Click here to read more

Asset to liability

Topics: BlogDwight’s “Daily Dose” eNewsletter

Traders are unflappable 

Dow futures are up about 50 points in pre-opening trading, and bond prices are close to unchanged. Stocks are higher on rallies in European markets after some strong economic data.

Given the level of outrage directed at Trump from a broad spectrum of people, including those in his own party, you would…

Click here to read more

Taking turns

Topics: BlogDwight’s “Daily Dose” eNewsletter

Nothing to worry about…

Dow futures are down about 40 points in pre-opening trading as North Korea took its turn last night in ramping up the rhetoric. There was nothing too new in what North Korea said, other than sometime this month it would send missiles over Japan and land near Guam to exhibit the…

Click here to read more

The daily grind

Topics: BlogDwight’s “Daily Dose” eNewsletter

Quiet markets

The markets are looking as dry as they did yesterday. Dow futures are down about 20 points, and bond prices are close to unchanged. Global markets are quiet as well with a slightly negative tone.

Economic reports calendar

The National Federation of Small Business released its July confidence poll of small business owners…

Click here to read more

The auto sales myth

Topics: BlogDwight’s “Daily Dose” eNewsletter

Excellent guidance

Equity futures are higher again today in pre-opening trading. If the 40 points gain in Dow futures holds through the opening, the Dow will open above 22,000. The motivation for equities today is coming from Apple’s earnings announcement. The company slightly beat expectations but exceeded expectations when it came to “guidance” for the…

Click here to read more

LIBOR no more

Topics: BlogDwight’s “Daily Dose” eNewsletter

Stock futures are modestly higher in pre-opening trading. After two days in which the Dow was the only index that moved, which was caused by some singular earnings reports, the NASDAQ is showing the most movement today. Facebook had blow-out earnings. Dow futures are up only 15 points, but NASDAQ futures are up .7%.

Jumping…

Click here to read more

Summer shutdown

Topics: BlogDwight’s “Daily Dose” eNewsletter

Dow futures are down about 25 points in pre-opening trading on more weakness in European stock markets. Bond prices are down slightly to start the new week.

Economic reports calendar

This is a fairly heavy week for economic releases and events, though none of appear likely to move the needle very far. Later today we’ll…

Click here to read more

A Friday history lesson

Topics: BlogDwight’s “Daily Dose” eNewsletter

Dow futures are almost unchanged in pre-opening trading despite a selloff in European stocks, but this could weigh on the markets once fully opened. While U.S. stock traders don’t seem interested in following European stocks, U.S. bond traders are eager to follow German bonds. German bonds are rallying today, and U.S. bond prices are following…

Click here to read more

Next stop, Europe

Topics: BlogDwight’s “Daily Dose” eNewsletter

Dow futures are up about 10 points in pre-opening trading, and bond prices are slightly lower. There was no news overnight to move the markets.

Better than expected

Today’s lone economic report is out. Housing Starts were expected to rebound from a weak May report, and starts exceeded expectations. The prior month was also revised…

Click here to read more
×

SIGN UP FOR DWIGHT'S DAILY DOSE!

×

OPEN AN ACCOUNT

Already have an account? Log In here.

Prefer to download the Account Application and submit via email?
Click here to download the Form.