Category Archives for Todd’s Market Update

Bulls Bounce Back

netflix

The stock market rebounded on Wednesday despite opening weakness and a major revenue miss from Netflix (NFLX). Specifically, the company reported a profit of $3.16 versus forecasts for a print of $2.68 but revenues of $7.3 billion fell shy of forecasts for nearly $7.4 billion. Additionally, Netflix reported first-quarter subscriber growth that sharply missed expectations. […]

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Bears Get Second-Straight Win

recession

The stock market showed weakness for the second-straight session amid a resurgence in worries over the coronavirus that have caused nervousness about the global recovery outlook. Profit taking could continue over the near-term despite better-than-expected earnings as sentiment gauges remain extremely bullish, which could be a contrarian warning. The Russell 2000 tested a first half […]

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Bears Get Rare April Win

trading volume

The stock market retreated from last week’s record highs after trading in negative territory throughout Monday’s session. Some of the nervousness was attributed to a rise in the 10-year Treasury yield which topped 1.6% and the weekend plunge in Bitcoin.   Specifically, Bitcoin sank as much as 15% on Sunday, and other major coins like […]

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Market Stays Hot for the Fourth-Straight Week

The stock market closed higher on Friday following another record-setting rally, fueled by stronger-than-expected economic data and earnings. Specifically, housing starts rose 19.4% to a 1.74 million rate in March, while March building permits rose 2.7% to a 1.77 million rate. Additionally, the University of Michigan consumer sentiment survey reading increased 1.6 points to 86.5 […]

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Bulls Continue to Push Record Highs

The stock market showed continued strength on Thursday as encouraging economic news and better-than-expected earnings pushed the major indexes towards new all-time highs and prior resistance levels. Specifically, a much stronger than expected report on consumer spending and a sharp improvement in the number of new jobless claims fueled bullish sentiment. The Nasdaq tested a […]

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Blue-Chips Test Fresh All-Time High

The stock market closed mixed on Wednesday despite exceptional earnings from the Financial sector. Technology stocks weighed down the broader market while the small-caps showed the most strength. Fed speak was also back in focus although Chairman Powell provided little in the way of news for bond-market traders. The 10-year Treasury yield held its slight […]

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Vaccine News Weighs on Market Momentum

The stock market was mixed on Tuesday after U.S. federal health officials issued a pause in the rollout of Johnson & Johnson’s (JNJ) coronavirus vaccine following concerns over rare blood clots in some individuals who received the shot. Consumer price inflation was also a little hotter than expectations although the rise was less pronounced when […]

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Market Dips As Wall Street Awaits Earnings

The stock market slipped on Monday as Wall Street awaits the start of the first-quarter earnings season that begins midweek. The losses were kept in check following comments from Fed Chairman Powell who reiterated that the central bank will continue to support the recovery until the job is done. Powell also stressed that a rate […]

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Bulls Get Weekly Win Although Small-Caps Slack

The stock market closed mostly higher on Friday despite a choppy open with the major indexes closing out a solid week of gains. Tech recovered earlier losses to trade in positive territory while the small-caps danced in the red for most of the session before edging slightly higher into the closing bell.   The strong […]

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Record Highs Back in Focus

The stock market regained momentum on Thursday with all of the major indexes closing higher and the broader market flirting with recent records. Much of the rally was attributed to Fed Chairman Powell after he said once again that the central bank has the tools to handle any temporary inflation pressures.   The Nasdaq traded […]

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