Afternoon Note
The market is near its best level of the session as the latest Consumer Inflation report strengthened bets for a rate cut by the Fed.
While the stock market is cheering the news, bond investors are breathing a greater sigh of relief.
The eleven S&P 500 sectors are trading in green with Consumer Discretionary sitting at the bottom of the leaderboard today.
This morning, the National Association of Home Builders (NAHB) Survey hit its lowest level in four months, down to 45 and below economists’ expectations of 51. Traffic of potential buyers declined four points to 30. The NAHB Chief Economist Robert Dietz noted, “A lack of progress on reducing inflation pushed long-term interest rates higher in the first quarter and this is acting as a drag on builder sentiment.”
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9/6/2024 1:27 PM | Topsy-Turvy Market |
9/6/2024 9:49 AM | ALL HELL TO BREAK LOOSE |
9/5/2024 1:34 PM | Lacking Conviction |
9/5/2024 10:07 AM | LOOKING FOR MOXIE |
9/4/2024 1:34 PM | Cooling Down |
9/4/2024 9:38 AM | CLOBBERED! |
9/3/2024 12:55 PM | Hissy Fit |
9/3/2024 9:37 AM | WILL THE RALLY KEEP ROLLING? |
8/30/2024 1:25 PM | End of Summer |
8/30/2024 9:44 AM | FEELING THE WARMTH |
8/29/2024 1:27 PM | Rallying even as NVDA fades |
8/29/2024 9:45 AM | NOT MEDIOCRE BUT EXPECTATIONS WERE SKY HIGH |
8/28/2024 1:54 PM | Nvidia Day |
8/28/2024 9:50 AM | DEFYING GRAVITY |
8/27/2024 1:34 PM | Nerves Ahead of NVDAs Results |
8/27/2024 9:47 AM | TENSION MOUNTS AHEAD OF NVIDIA EARNINGS |
8/26/2024 1:25 PM | Rotation to Software |
8/26/2024 9:45 AM | POWELL SEES THE LIGHT |
8/23/2024 1:10 PM | Official Start |
8/23/2024 9:36 AM | NERVES AHEAD OF POWELL’S SPEECH |
8/22/2024 1:33 PM | Bad News is Bad News |
8/22/2024 9:56 AM | TAKE THIS JOB AND SHOVE IT! |
8/21/2024 1:04 PM | Bottom Fishing |
8/21/2024 9:48 AM | PAUSE ON THE ROAD TO NEW HIGHS |
8/20/2024 1:01 PM | Juxtaposition |
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