Afternoon Note
The market derailed on confirmed reports Iran is preparing to launch a missile attack on Israel. These missiles have now been launched around 12:30 EST.
The news is sending major indices sharply lower and even though they are off the low point of the session, the angst is palpable.
The S&P 500 has a fair amount of support on a closing basis at $5,700.
Manufacturing ISM showed a sharp reversal in inventories, just as port workers have gone on strike. I’m still searching for the manufacturing miracle.
The JOLTs report saw jobs online rebound. I’m more concerned about the quits rate which continues to plunge.
I think this matters more to Powell than a headline month-to-month bounce.
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10/4/2024 1:14 PM | Jobs Data Pushing Stocks Higher |
10/4/2024 9:58 AM | JOBS DAY (AGAIN) |
10/3/2024 12:47 PM | Oil Surges |
10/3/2024 9:38 AM | WAITING |
10/2/2024 1:23 PM | Holding the Pattern |
10/2/2024 9:34 AM | REIGN OF TERROR |
10/1/2024 1:08 PM | Geopolitics Takes Center Stage |
10/1/2024 9:39 AM | STRONG, STEADY & DETERMINED |
9/30/2024 1:33 PM | Marginal Monday |
9/30/2024 9:33 AM | LOOKING FOR A POWELL BOOSTER |
9/27/2024 12:53 PM | Technology Lags |
9/27/2024 9:57 AM | Materials Momentum |
9/26/2024 1:11 PM | Strong and Steady |
9/26/2024 9:44 AM | AI IS A-OK |
9/25/2024 12:55 PM | Losing Steam |
9/25/2024 9:25 AM | IS THIS THE DATA POWELL FEARED? |
9/24/2024 1:06 PM | The Right Move |
9/24/2024 9:45 AM | HO-HUM IS OKAY |
9/23/2024 1:38 PM | A Big Week Ahead |
9/23/2024 9:44 AM | IT’S ELECTRIC! |
9/20/2024 1:07 PM | Taking a Breather |
9/20/2024 9:35 AM | RATE CUT EUPHORIA |
9/19/2024 1:25 PM | Rate Cut Rally |
9/19/2024 9:29 AM | …HE’S A DEMON ON WHEELS |
9/18/2024 1:19 PM | Fed Time |
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