Afternoon Note
Stocks are heading lower and putting the Santa Rally in jeopardy as we got the latest economic data.
According to the latest JOLT’s report, job vacancies declined to 8.79 million in November, being the lowest level in more than two years.
Quits rate has been trending down, hitting its lowest level since September 2020.
ISM Manufacturing improved to 47.4 but it is still below the neutral 50. Prices paid at 45.2 missed consensus of 49.5 and declined in December, while Employment improved and giving a good sign for the Fed’s inflation fight.
Energy is the big winner in today’s session, rising alongside crude prices.
The Street will be watching for the 2pm release of the Fed’s minutes from last month’s meeting.
Comments |
The sudden jump in Oil Prices due to unrest in the shipping industry is a known driver of Inflation. That coupled with passing the $34 Trillion debt milestone is likely a key driver of the Market Reaction. The fact that a large percent of GDP is Government spending is also a concern. Paul on 1/3/2024 2:26:14 PM |
Tweet |
5/17/2024 1:45 PM | Near Record Highs |
5/17/2024 9:31 AM | DIFFERENT VALUATION METRICS |
5/16/2024 1:23 PM | Dow 40,000 |
5/16/2024 9:40 AM | AUTOPILOT FEELS SO GOOD |
5/15/2024 1:53 PM | New Hope |
5/15/2024 9:41 AM | CHAMPING AT THE BIT (INVESTORS BEGINNING TO CHASE) |
5/14/2024 1:24 PM | Small Moves |
5/14/2024 9:22 AM | Marking Time |
5/13/2024 1:37 PM | Snuffed Out |
5/13/2024 9:37 AM | BRACING FOR MORE INFLATION DATA |
5/10/2024 1:23 PM | Cold Water |
5/10/2024 9:58 AM | IN TUNE |
5/9/2024 1:09 PM | Disconnect |
5/9/2024 9:39 AM | THE SEVENTH (TRADING) DAY OF MAY |
5/8/2024 1:49 PM | Mixed Note |
5/8/2024 9:37 AM | CHANGING NARRATIVES |
5/7/2024 1:50 PM | Building Gains |
5/7/2024 9:36 AM | HOPING MICKEY SAVES THE DAY |
5/6/2024 1:59 PM | Rate Cut Hopes |
5/6/2024 9:17 AM | LOOKING FOR MOMO TO KICK BACK IN |
5/3/2024 1:41 PM | Cheering the News |
5/3/2024 7:33 AM | TIM COOKS THE (RECORD) BOOKS |
5/2/2024 1:54 PM | Holding Up |
5/2/2024 9:41 AM | COOL HAND POWELL |
5/1/2024 1:22 PM | Which Powell? |
More commentary archives |
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|