Afternoon Note
Major indices took a dip earlier this morning but recovered into the green. The notable exception is the Dow Jones Industrial Average, which is being pulled lower by poor earnings out of UnitedHealth Group (UNH). Oil is also continuing to recover higher.
The Ten Year Treasury Yield (TNX) is up 3.8 basis points as it hits a critical level around the 50-day moving average of 4.32%.
The only sector slightly in the red is Health Care (XLV), led lower by UNH. Energy (XLE) is the leader and getting a boost from oil.
Magnificent Seven stocks are mostly trading lower, with Nvidia (NVDA) lagging as it is still reacting poorly to the H20 export restrictions.
Economic Data
The Philadelphia Manufacturing Index fell to -26.4 in April from 12.5 in March and below the estimates of 2. This comes as 39% of responding firms indicated lower activity.
Notable Points:
A reminder that markets will be closed tomorrow for Good Friday. Wishing everyone a great Easter or Passover.
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4/17/2025 1:12 PM | Morning Recovery |
4/17/2025 9:38 AM | POWELL PUNT |
4/16/2025 1:16 PM | Semiconductor Shift |
4/16/2025 9:34 AM | AIRLINES TAKING OFF IN A RECESSION? |
4/15/2025 1:17 PM | Narrow Range |
4/15/2025 9:48 AM | TURN THOSE MACHINES BACK ON, MAYBE? |
4/14/2025 12:41 PM | Race to Reshore |
4/14/2025 9:50 AM | LESS FEAR BUT MORE CONFUSION |
4/11/2025 1:19 PM | Yields Surge |
4/11/2025 9:51 AM | FINDING SEA LEGS |
4/10/2025 1:28 PM | Markets Seesaw |
4/10/2025 9:52 AM | THIS IS A GREAT TIME TO BUY!!! DJT |
4/9/2025 12:52 PM | Bumpy Wednesday |
4/9/2025 9:53 AM | YOU’D BEST START BELIEVING IN TRADE WARS |
4/8/2025 1:20 PM | Losing Steam |
4/8/2025 9:32 AM | FINDING BALANCE |
4/7/2025 12:57 PM | Watching The Tape! |
4/7/2025 9:43 AM | BRACING FOR MORE |
4/4/2025 1:28 PM | Powell Sets The Tone |
4/4/2025 9:33 AM | (ALMOST) CLASSIC CAPITULATION |
4/3/2025 1:36 PM | Hang In There |
4/3/2025 9:50 AM | FIGHTING BACK WITH NEW RULES |
4/2/2025 1:10 PM | A Win-Win Position |
4/2/2025 9:46 AM | LIBERATION |
4/1/2025 1:14 PM | Buyers Emerge |
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