Never underestimate the fickleness of Wall Street. The irrational exuberance that gripped Wall Street through the month of August courtesy of a developing bubble in everything AI (artificial intelligence) coupled with the hope of interest cuts in the 4th quarter, has given up the ghost. Not withstanding the historical, generally negative, performance of markets in September .....
We had a cornucopia of factors affecting markets this week. In no particular order, we believe investors reacted with mixed emotions over the auto strike, spiking inflation, rising oil prices, and slightly improving economic activity in China. In Canada we note the rally in bank stocks this week that got no love from earnings last month and pray it is not a dead cat bounce. Speaking of no love .....
Investors continue to fret over rising economic stats fearful it will lead to more rate hikes. Having said that, the BOC stood pat with promises of more rate hikes should inflation rise up again. We cannot help but think there is at least one more before year end and forget about cuts in the first quarter of 2024. Canadians were caught off-guard by the surprise 39900 new jobs in August with most of those positions in full time jobs. It certainly offset .....
August proved to be a bumpy ride for investors as they seesawed their way through rising bond yields, and somewhat volatile stock markets. Ten-year US bond yields breached 4.3% before .....
It was quite the week on Wall Street as investors waited for comments and insights from Federal Reserve members with the piece de resistance from Jay Powell on Friday. In between we had a horror show of earnings .....
Sometimes we have to wonder what goes on the minds of Wall Street traders. The Federal Reserve has been telegraphing as much as legally possible to .....
It was a tough week for technology companies as rising bond yields clipped the technology stocks. Well, that and the Moody’s downgrade .....
Well, it finally happened. An independent rating agency served notice to US Government officials and politicians that their reckless deficit spending programs are not immune to debt downgrades. We expect Moody’s and S&P to jump on the band wagon, but they will wait an appropriate amount of time to avoid hints of copying. Stock and bond markets sold off .....
The current Bull market is mature after 14 years of an upward trend. Economic signals that occur in the late business cycle are evident. We discuss where the market/economy is expected to head with Technical Analyst Donald Dony, alongside a discussion about the current inflationary environment, interest rates, and whether the S&P 500 and TSX are likely to re-test 2022 highs. Watch the episode here and don't forget to like and subscribe!
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