Money Losing IPOs - Percentage Hits A Record High

Money Losing IPOs - Stocks Fall On Wednesday The healthcare sector brought down the overall market on Wednesday. Heading into trading on Wednesday, the market had been up 12 out of the previous 14 days. It didn’t have enough momentum to cross the finish line that is the September all-time high. Therefore, S&P 500 fell…

Industrial Production Growth Falls To A 10 Month Low

Industrial Production Growth - MBA Purchase Applications Rise Again Industrial Production Growth - Despite the slight rise in interest rates, purchase applications increased again in the week of April 12th. Purchase index was 1% from last week when it increased 1%. Composite index fell 3.5% on top of a 5.6% decline because refinancing applications plummeted.…

Healthcare Plummets Because Of Politics As S&P 500 Nears Record High

Healthcare Plummets - As Stocks Creep Higher Even though the stock market is extremely overbought, it managed to inch closer to its record closing high on Tuesday. S&P 500 was up 5 basis points to 2,907.06. It has increased 12 times in 14 days. I still expect it to break its record closing high of 2,930.75…

Fund Managers Buy Equities & Lower Their Cash Positions

Fund Managers Are Buying Stocks Again There is huge career risk in taking a position that is against the grain and being wrong for a few months if you are a fund manager. For example, going underweight tech stocks in the late 1990s would cause fund managers to underperform and be treated like pariahs by…

JP Morgan Beats Estimates, But Citi Misses On Revenues

JP Morgan - Slight Decline In Overall Stocks In the week where the S&P 500 is likely to reach a new record high, the market started with a dud on Monday. S&P 500 fell 6 basis points, Nasdaq fell 0.10% and Russell 2000 fell 0.36%. VIX increased 2.58% to 12.32 which is still extremely low.…

Gas Prices Rise 63 Straight Days

Gas Prices - Very Mixed Empire Fed Survey Before getting into gas prices, we'll review the Empire Fed Survey. Manufacturing sector is the weakest part of the global economy and the American economy. Biggest upcoming positive catalyst for this sector is probably the trade deal with China. That could help growth resume in the 2nd half…

Big Friday Rally Puts The S&P 500’s Total Return At A Record High

Big Friday Rally - Market Inches Towards Record High The stock market rallied hard on Friday as S&P 500 had its 3rd straight weekly gain. S&P 500 increased 0.66% to 2,907.41. On a total return basis, the market hit a record high. The highest close in September was 2,930.75, meaning a record high excluding dividends is…

Leading Index Yearly Growth Rate Turns Positive

Leading Index - Strong Chinese Exports, But Imports Fall Leading Index - China is starting to turn around as the government stimulus is working. Dollar denominated exports increased 14.2% in March on a year over year basis. That almost doubled estimates for a 7.3% increase. The weak part of this trade report was that imports…

2% Core CPI Matches Fed’s Target

2% Core CPI - Stocks Rebound On Wednesday So much for the potential correction because stocks were overbought. On Wednesday, S&P 500 rallied 0.35%, Nasdaq increased 0.69%, and Russell 2000 increased 1.4%. The market is once again within striking distance of its all-time high. It might even reach that level next week. S&P 500 needs…

Housing Purchase Applications - 13% Yearly Growth

Housing Purchase Applications - Fed Minutes Consistent With Previous Statements Before getting into Housing Purchase Applications, let's discuss the recent Fed minutes. Fed did its job early this year by becoming move dovish in the face of weak economic reports. Current policy is in the sweet spot where inflation won’t spike and the economy probably will…

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