Category Archives for Todd’s Market Update

S&P 500/ Nasdaq Tag Record Highs

The stock market hit record levels on Thursday’s open but was somewhat choppy afterwards as Wall Street weighed a batch of better-than-expected Tech earnings and proposals from President Biden in his State of the Union address. A rise in treasury yields slowed momentum before a recovery afterwards with more key earnings updates, including Amazon.com (AMZN) […]

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Fed Update Lifts Stocks Off Lows

Federal Reserve

The stock market was choppy heading into the latest update from the Federal Reserve on Wednesday but gained momentum after the announcement of holding interest rates near-zero. The minutes were a little more upbeat than last month, noting progress on vaccinations and strong policy support are helping strengthen economic indicators, including employment. The Fed reiterated […]

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Market Mixed Ahead a Key Earnings/ Fed Minutes

The stock market was mixed on Tuesday as Wall Street awaited more corporate earnings results from major companies and the upcoming Federal Reserve monetary policy decision. Big Tech companies will be closely watched, with these stocks having largely underperformed against the broader market rally following the rotation into cyclical and value stocks. The Russell 2000 […]

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Bulls Regain Momentum

The stock market showed continued strength on Monday ahead of the busiest week for first-quarter earnings and the start of the Fed’s two-day policy meeting. For the S&P 500 companies that have reported results thus far, 84% have topped estimates and would represent the highest number recorded if this trend holds. Wall Street is expecting […]

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Bears Get First Weekly Win in Four Weeks

The stock market rebounded on Friday with the gains nearly giving the bulls the weekly win. However, the bears did just enough damage throughout the week to get their first overall victory in five weeks.   The rally was enough to lift the small-caps to a weekly gain with the S&P 500 setting a fresh […]

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Volatility Spikes Towards 20

The stock market erased opening gains to trade lower on Thursday following news President Biden is set to propose a plan that could nearly double the capital gains taxes on the wealthy. The proposal would boost the rate to 39.6% for individuals earning $1 million or more, an increase from the current rate of 20%. […]

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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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