7 Best Long-Term ETFs to Buy and Hold

Once again, U.S. News Invested provides us with the latest and greatest investment opportunities, especially for those of us interested in the highest quality long-term holdings.  

Wall Street shares close up as megacap tech stocks rally

With both Microsoft and Alphabet turning in strong Q1 reports after the bell yesterday, it was not unexpected that there would be a rally today after yesterday’s big dive. This extended to other megacap stocks with Amazon, Nvidia, and Meta all making gains. The good news from Microsoft and Google allayed market concerns and Commerce Department inflation data was in line with estimates which also allayed stagflation concerns. The S&P registered its biggest weekly gain since November, the Nasdaq snapped four weeks of losses. Volume remains below average at 9.88 billion. 

Tepid US data hits stocks, lifts Treasury yields to over 5-month high

A huge drop all across the board and right out the gate, the Dow down some 700 points by 10 a.m., all attesting to how skittish this market is when even mildly bad news can cause such a panic. The Nasdaq and S&P suffered similar fates but the good news is that all three began a steady recovery that lasted all day and closed down with far fewer losses than at open. The tech sector took a beating with both Facebook and Meta reporting poor forecasts and GDP slowing down. This was despite the fact that Yellen gave a statement that the economy was likely stronger than suggested by Q1 output.  

Equities mixed as investors eye earnings; yen on intervention watch

All three indexes were on a seesaw again today with all reaching substantial lows by noon, the Dow down about 200, only to recover again by 2 pm, then fall well into the red again, then recover to break-even again just minutes before close, then dive in the final moments to close down 42.  The Nasdaq and S&P went through almost identical patterns but both closed modestly in the black. This week’s PMI data has boosted Treasury yields which in turn has pressured equities. That makes Friday’s PCE data all the more critical. As today’s expert put it, “This week is getting back to fundamentals and earnings. Temporarily, we are sidestepping geopolitics.”  The consensus remains that caution is warranted due to inflation and employment. Volume came in at 10.45 billion, still below the 4-week average. 

Wall Street closes higher as investors digest earnings, megacap outlook

All three indexes took a shot straight up that lasted all day, all on good Q1 reports from top-tier companies including GM. Optimism over the Magnificent Seven stocks continues with their reports coming later in the week. Business activity cooled in April to a 4-month low and inflation also eased, suggesting possible relief for consumer prices. PMI came in weaker as did unemployment suggesting a “bad news is good news” scenario. But this was cautioned by today’s expert, “bad news is good news means people are too hawkish on Fed expectations.” PCE, the Fed’s preferred inflation gauge, is coming Friday. Volume is still below average at 10.57 billion. 

Wall St stocks end higher with major corporate earnings in view

All three indexes were more or less flat until about 11:30 a.m. when they suddenly zoomed way up, the Dow reaching a gain of over 450 by 2:30 p.m. until beginning a steady decline closing at a gain of 253. The morning buying spree may have been triggered by “the standard buy-on-the-dip after a 5% pullback” and by general excitement over anticipation of strong Q1 reports coming later this week from the Magnificent Seven stocks bolstered by today’s solid performance from Alphabet, Apple and Amazon.  But this was also tempered by customary caution regarding the Fed.  In addition to megacap company earnings, investors also await the March PCE data for more hints on inflation and rate cuts. Volume is still a little below average at 10.33 billion. 

7 Best Manufacturing Stocks to Buy

We all know that the primary driver behind the Fed's delay in cutting rates is that the economy, and particularly manufacturing, is just doing too darn well to be confident inflation won't go through the roof again. So it's time to take a closer look at those manufacturing stocks and that's exactly what U.S. News Invested has done this week. Hope everyone had a great weekend.  

AAII Stock Ideas The Power of Patience

Once again we offer pearls of wisdom from the AAII, this time a discussion of making profits from micro-cap volatility. If nothing else, there are recommendations here for a couple of powerhouse books on investing, particularly the 2011 "What Works On Wall Street" and 2006's "Predicting the Markets of Tomorrow," both by today's celebrity guru James O'Shaughnessy.  Enjoy the weekend.  

Nasdaq, S&P tumble as Netflix, chip stocks drag; AmEx boosts Dow

Today there was all kinds of wavering in the indexes, except the Nasdaq which was a straight-shot down.  But the Dow swung back and forth between a high of a +325 and a low of +65, but at least it stayed in the black thanks to a strong showing by American Express.  But the tech indexes went well into the red, partly due to a revenue miss by Netflix but also to yet another arrow from the Fed, today with Chicago Prez opining that inflation has indeed “stalled” this year.  

Wall St closes lower; gold climbs amid economic, geopolitical crosswind

Today’s market movements are in the narrative below characterized as wavering “throughout the session,” but the charts tell a very different story, a story of the indexes being way up in the morning, the Dow reaching a height of a +330 at 11 a.m., then steadily declining thereafter to breakeven around 1 pm, then in the red, then struggling to just barely get out of the red by close. The S&P and Nasdaq suffered similar fates with the difference of staying in the red once they got there. There was no seesaw, no wavering, just a straight up, then a straight down. There was no explanation for the morning’s optimism, but the sell off was attributed entirely to the continuing angst over rate cut delays with yet another Fed statement, today from the NY Fed Prez, citing no needs for cuts now.  

Stocks decline as interest rate uncertainty, earnings weigh

It was yet another volatile seesaw day across the board with the Dow swinging from a high of a +240 to a low of a -190. The S&P and Nasdaq did not fare nearly as well, spending the entire day seesawing in the red and closing at or near their lows. The trigger again was the delay in rate cuts which impacts the tech-heavies much more than the Dow. It was also a not great day for Q1 earnings which was another pull-on equities. As inflation heats up and rate cut expectations cool down, plus the turmoil in the Middle East, the S&P is on course for its third straight weekly loss.  Volume remains below the 4-week average at 10.8 billion.  

US stocks end mixed on rising Treasury yields, Middle East jitters

It was an extreme seesaw day with all three indexes up and down like crazy all day, the Dow swinging back and forth between a +270 and a -23, but closing modestly up with the S&P and Nasdaq closing near break-even. There was yet another reminder from the Fed today that rate cuts would likely be delayed longer plus increased jitters over Israel’s announcement that they would not be heeding the calls for restraint. Q1 was mixed, with United Health and Morgan Stanley positive but BofA and J&J negative. 

US stocks tumble as Treasury yields rise, Middle East tensions simmer

Given the events of the weekend in Israel, I expect a crash first thing this morning. Instead all three indexes opened way up, the Dow up some 400 points, then began an immediate decline reaching break-even at 1 pm and then continuing to go steadily into the red the rest of the day to close down in the hefty 3-digits again.  A hugely positive retail sales report proved a double-edged sword. It proved the resilience of the American consumer, which is good, but also gave more fodder to the Fed for holding off rate cuts even longer.  

5 Best Large-Cap Growth Stocks to Invest In Right Now

In the interest of diversity, tonight I present a precise opposite point of view from yesterday when I gave you an article from the AAII warning you away from the megacaps. The recent U.S. News Invested article below tell you what the best megacaps are to invest in right now.  

Tempering the Risks of Market-Cap Weighting

For years now, market experts have been warning of the dangers of the so-called FANG+ mega-stocks being so dominant that if one falters, all the rest could down like dominoes and take everyone else with them. This has already been demonstrated repeatedly, most recently with Nvidia. So this week's AAII article about tempering market weighting should be of real value.  

Stocks tumble, dollar firms amid geopolitical risk, mixed central bank views

It was a straight shot down on all three indexes right out the gate and all day long resulting in big 3-digit losses across the board. After inflation being a major concern on Wednesday, then not so much yesterday, today it was back on the board along with other disturbing developments such as an impending attack by Iran against Israel shooting down stocks and shooting up the price of oil and gold, and the ECB signaling that rate cuts in Europe could soon be coming. The Boston Fed Prez said there could be two rate cuts this year but there is some skepticism.  

S&P 500, Nasdaq end sharply higher on soft inflation data, eyes on earnings

The day started with a steep decline into the red, the Dow down over 250 points by 11 a.m., then steadily recovering all three with handsome gains by close for both the S&P and Nasdaq, and the Dow ending even. Though there’s no commentary below about the morning dive, the recovery was clearly due to the PPI report coming in with considerably more encouraging inflation data than yesterday’s CPI report which sent the whole market into a dramatic tailspin.  

Stocks sink, yields jump as hot US inflation erodes hopes for rate cuts

Everyone’s been nervous about today’s CPI report and today the fears all proved to be valid as the numbers all came in even hotter than expected, a 0.4% monthly increase vs estimate of 0.3 and 3.5% yearly vs estimate of 3.4%. All the indexes dropped like a rock and stayed there all day, the Dow down some 600 points at 1 pm.  All this translated to a dramatic drop in rate cut expectations for June and even July.  

U.S. stocks inch to higher close as markets brace for CPI data, earnings

There was panic selling across the board from the outset, the indexes well into the red most of the day, the Dow down 300 by 11 a.m.  Then at 3 pm, a very sudden spurt to recovery to close near flat for a second day.  This is all boils down to one simple reality – Wednesday is CPI day and the markets are bracing for bad inflation news and though inflation is expected to continue slowly towards the 2% goal, small business optimism has sunk to an 11-year low.  

Wall St ends flat as investors await CPI, earnings

All the indexes were up early in the morning, the Dow over 100, but the whole rest of the day was quite a lot of seesaw action which ended with everything mostly flat as investors continue to struggle with the adjustment of a likely later timing of rate cuts, all in the wake of Friday’s terrific jobs report which pretty much solidified the case of “no hurry.” Consequently, today the first foreseeable rate cut is now changed from June until July, but there remains considerable caution ahead of Wednesday’s CPI update, which is expected to cool down slightly month by month but heat up slightly year-on-year. Q1 reporting starts Friday with the major banks and the expected S&P growth is 5.0% vs a 7.2% estimate from early January. The eclipse provided a much welcome distraction from market madness, reflected in the very light volume of 9.5 billion. 

Five Key Markers Pointing to Successful Stock Investing

To close out this weekend, here is the latest from the AAII with a succinct list of the advantages that disciplined individual investors have over institutions. Hope everyone enjoyed all the sunny weather we had this weekend.  

7 Best ETFs to Buy Now

This weekend's contribution from U.S. News Invested is 7 more recommendations for great investments.  Enjoy your weekend.  

Wall Street indexes rise after strong jobs data

It was a straight shot up on all the indexes today as the Dow gained 307 and the Nasdaq 199.  It was also another example of the schizophrenic nature the market has exhibited so frequently lately. All week long, good news has been taken as bad news as with each day solid economic data has thrown the markets into a dive and mostly 3-digit dives.  Today, it went the other way when the jobs report showed way more hiring than expected, especially when they expected a 75,000 job decrease from February. 

Stocks retreat, bonds rally after Fed officials cool rate-cut outlook

The indexes were well into the black all morning, the Dow up over 200 points, as investors took a report showing increased claims for unemployment as evidence of rate cuts coming sooner. Then at 2 pm, Minneapolis Fed Prez Barkin said no cuts may be required at all this year, and that brought everything crashing way down for the Dow to lose over 700 points, closing down 530 and the Nasdaq also with a 3-digit loss. 

Shares, yields wobble on unclear rate cut timing

All three indexes were handsomely in the black all day, the Dow up some 125 points in the morning, an obvious recovery after two straight days of 3-digit losses. Then at 2 pm, everything went to hell with all three losing most of their gains.  It was obviously at 2 pm that Powell made his comments basically reaffirming his previous positions that lower rates will be appropriate “at some point this year” but only after there is “greater confidence that inflation is moving sustainably down” toward the 2% target. So everything is going well but still not well enough to suggest a target date, not what the market wanted to hear.  

Stocks fall, yields climb as rate cut outlook takes a hit

All three indexes dropped like a rock right at the outset and then pretty much stayed there all day, the Dow dipping big time at 396 points. It was still another day of robust economic news, this time with a jump in labor demand, creating as today’s expert put it, “We’re back into a good news is bad news situation because recent economic data has been reflective of a fairly robust economy. It pushes back the prospect of interest rate cuts.”  

Dow, S&P close lower as manufacturing data lifts yields

The PCE was all the rage last week but, with it being released on Good Friday when the markets were closed, there was supposed to be a reaction today. It seems though that after four days, it was already old news and so nary a mention.  (I checked though; it came in exactly as expected.)  What was mentioned was the PMI (manufacturing) data which came in strong showing a continuing recovering sector and continuing strong economy. This is bad news since it’s still more evidence for the Fed that the economy is rolling with the punches just fine with the higher interest rates so there’s no rush to have cuts.  

7 Oversold Tech Stocks to Buy

The third and final day of our long holiday weekend and more stock picks to consider ... 

AI Is Not Intelligent!

Day #2 of the big holiday weekend features an episode of WealthTrack which finally takes a point of view on AI that I agree with, that AI is not intelligent, that the naysayers who have been predicting a market crash are just so wrong, and that the bull market could very well continue. (I would go further than that; I would say that there are definite signs out there that is almost certainly will continue.) What better way to celebrate this holiday than to bring this phenomenon that we both stand in awe of and fear down a notch or two.  

9 Best Growth Stocks for the Next 10 Years

For the beginning of this long holiday weekend, some more recommendations for the top hot stocks from U.S. News Invested ... 

Stocks subdued, yen in focus, with inflation data on tap

All the indexes stayed pretty close to break-even today and, as has been the case all week, caution is in play awaiting Friday’s PCE data which is the Fed’s most watched inflation guide for rate cuts. Since the market is closed for Good Friday, we won’t see the reaction until Monday. That means, for practical purposes, today is the last day of Q1 which is expected to post gains for all the indexes. Global stocks didn’t fare as well with the MSCI index flat for Q1 vs a forecast of a 7% gain. The good news was the economy grew faster in Q4 than expected, GDP revised upwards to 3.4% vs the earlier 3.2%. Oil rose due to global production cuts and attacks on Russia’s energy.  Per the CBOE and as expected, volume remains well below average at 11.3 billion. 

Stocks close with gains, led by Dow as investors look for rate insight

The S&P and Nasdaq were enjoying modest gains all day until the final half hour when they both zoomed dramatically. The Dow had been in healthy 3-digit territory all day but then also zoomed to even greater heights in the final half hour. Again no real explanation for the sudden 11^th hour change of heart except for more anticipation over the coming PCE data on Friday, perhaps now taking bets that it’ll be good news just as the bets were for bad news yesterday.  

Dow, S&P fall for third straight session with inflation data eyed

All three indexes were handsomely in the black all day long, the Dow up over a hundred most of the session, then in the final half hour all came crashing down sending all three to close modestly in the red. The only explanation given for the dive is nerves over Friday’s coming PCE data and how that might impact the timing of rate cuts, though a June cut is still widely forecasted at 70.4%. Why the sudden 11^th hour anxiety 3 days ahead of the report, especially since the market already took a dive yesterday for the same reason, remains a mystery.  

Wall Street ends lower ahead of US data; dollar pressured by yen, yuan

It was a day in the red for all three indexes, especially the Dow which lost 162, and being blithely dismissed by the market as (a) profit-taking after the best week of the year last week, (b) taking a breather ahead of CPE inflation data coming Friday, and (c) light volume consolidation with many on spring break and a holiday right around the corner. Year-on-year headline and core PCE is expected at 2.5 and 2.8% respectively. PCE from January to February is expected slightly hotter, but Core PCE slightly cooler. For a holiday week volume came in light as expected at 9.8 billion. 

10 Cheap Dividend Stocks to Buy Under $20

Continuing our theme this weekend of cheaply accessible investments, today with our emphasis on income, here are the latest recommendations from U.S. News Invested for the top 10 cheap dividend stocks.  Hope everyone had a great weekend.  

7 Best Mutual Funds With No Minimum Investment

For those of you interested in easily accessible investments that also perform quite well, here are 7 of them -- 

S&P 500 ends near flat but index posts biggest weekly gain of year

With the market still trying to find its footing after the recent large gains, today tech was all over the place, up and down like crazy though ultimately closing near even. The cyclical Dow did not fare so well, but that’s what usually happens on good interest rate news as we got on Wednesday which always makes tech more attractive and traditional stocks less so.  The Dow took an all-day dive ending down 305. 

Wall Street extends overnight record setting after SNB cut, steady Fed

All three indexes were up, way up, right out the gate. The Dow stayed steadily up all day closing at a +269 but the tech heavy Nasdaq and S&P saw steady declines all day, but still closed modestly up. Though no explanation has been given about why the steady declines, the consistent up readings which extend yesterday’s records are attributed to not only the first rate cut coming from the Swiss central bank but other central banks following Powell’s lead yesterday in holding their rates steady.  

Wall St ends higher as Fed keeps three rate cuts on the horizon

All three indexes were essentially completely flat until 2 pm. Then, at precisely 2 pm, all three took off like jackrabbits so it was at 2 pm that Powell gave his press conference which “while he didn’t necessarily go full dove, it was dovish vs recent market worries.”  The fears of a hawkish policy stance were laid to rest today and not only did the Fed announce the expected “no change in rates this month,” but bolstered the scenario of three cuts this year and Powell’s statements even downplayed the importance of recent hot inflation readings saying the numbers “haven’t really changed the overall story.” So everyone was happy and it was a good day, the Dow up over 400, the Nasdaq over 200.  Volume was a little below average at 11.67 billion. 

Wall Street advances with Nvidia and Fed meeting in focus

The big sell off that began in the final half hour on Monday was still evidence at open this morning with both the S&P and Nasdaq well into the red. But all three indexes began rising immediately after open with the two tech indexes recovering into the black by noon and then well into the black by close, the Dow even gaining a big 320 points. What happened?  Nvidia!  Its hotly awaited new AI chip was announced, with the claim that it could be 30x faster than current chips. This caused the entire market to take off, tech and otherwise.  

Wall Street ends higher, investors juggle Fed nerves with AI enthusiasm

It was a mostly an up day with the indexes high in the morning, the Dow up some 200 before noon, but then like before, taking a dive in the final half hour to close up more modestly at a plus 75.  The Nasdaq and S&P also losing some of their earlier gains to close up 130 and 32 respectively.  The big morning boost came from Apple entering into an AI venture with Google, and the afternoon downturn to the usual jitters on rates ahead of Wednesday’s Fed meeting.

The 7 Best Vanguard Funds for Retirement

And to close out the St. Paddy's Day weekend, here's something for some good old fashioned Irish luck ... 

Picking Top Stocks

This week's edition of WealthTrack is on a topic we can all use -- Picking Top Stocks, especially in an environment where a pitifully small percentage of actively managed funds manage to do better than simple index funds. Consuelo Mack interviews the author of the book "The Little Book of Picking Top Stocks ... How to Spot Hidden Gems."  Enjoy.  And enjoy the weekend.  

Stocks set for weekly fall, dollar climbs as Fed rate cut expected

It was a shot straight down from 11 a.m. to 1 p.m, then a modest rebound in the afternoon but still nothing too energetic so all the indexes closed substantially down, all because the PPI numbers, like the CPI earlier, showed inflation still sticking. Ironically, even though the import price data also showed a modest increase, that along with increased factory production was taken as a sign of improving inflation and thus the modest afternoon rebound. Consumer sentiment on inflation remained little changed and oil prices have dipped, but the overall sentiment remains that the market is overbought and “some of the real winners have just gone a little bit too far, so you’re seeing them trade off.” No volume data was available for this session. 

Wall St ends down after PPI data and as chipmakers fall

It was a shot straight down all day long when the PPI numbers did not come through as desired with the Dow reaching a low of a minus 340 by 3:30 and then bouncing back to recover over half of those losses in the final half hour. The same happened in the other indexes, hitting a low at around 3:30, then bouncing back dramatically in the final half hour.  

Wall Street ends mostly lower as chipmakers ease; inflation data ahead

Tech spent the day awash in red ink while investors fled to the safety of the Dow, boosting it some 200 points. Then at 1:30, all three went into decline, tech closing even lower than it started, the Dow closing 170 points down from its morning high. And yesterday, with the consensus being that nobody cared when rate cuts come as long as they do come, today it was back to seeing the CPI reading as bad inflation news and sitting on pins and needles for Thursday’s PPI and retail sales. The odds of a June rate cut have gone from 70% yesterday to 65% today until the reports come in tomorrow. Volume was again below average at 11.12 billion. 

S&P 500 posts record high finish as Oracle jumps, traders keep rate-cut bets

The day got started with great guns, all three indexes way up until 11 a.m., the Dow up some 300 points, then everything came spilling down until 1 pm, afterwards recovering to the previous morning high before coming down a little after 3 pm.  The Dow up 235 for the day, the Nasdaq 246.  The CPI came in exactly as expected with a 0.4% monthly increase. But here’s the thing – apparently, for today at least, nobody cares anymore.  

S&P 500, Nasdaq end down as investors wait for CPI, PPI data

There was some sort of general panic going on right out the gate with all three indexes taking a deep dive until about 11 a.m. when all three began steady rebounds that ended the day with only modest losses. The Dow had been down almost 250 points but rebounded to a plus 46 by close. Nervous trading like this seems to be a hallmark of days before major data is released when there is uncertainty about the data.  Tuesday we’ll be getting CPI, PPI Thursday. There is a tug-of-war going on with some investors expecting a resurgence in inflation with cuts later than sooner, other expecting deflation with cuts sooner. The expectation for CPI is a 0.4% monthly increase, 3.1% annual. Volume was below average at 10.9 billion. 

Retirement Roundup: A Quick Tour of Retirement Investing Themes

For those of you interested in a free retirement webinar coming up this Wednesday courtesy of AAII, see below ... 

8 Best Income ETFs to Buy in 2024

For those looking to turn their retirement portfolios into self-structures annuities and live off the monthly payments, here's a way to do that.  

Wall Street slips from records with Nasdaq leading declines

With the employment report coming out pretty exactly the way the market wanted, all the indexes opened well into the black, the Dow up some 170 points. Then about 11 a.m. everything started going south as investors decided, contrary to prevailing wisdom, that the solid jobs report which was supposed to keep this rally going, instead had the effect of triggering profit-taking. 

Shares rally to records ahead of US jobs report, yields and dollar down

It was another straight shot up with the Dow gaining 130 and the S&P making another all-time record when the ECB, following in the Fed’s footsteps, announced a pause in their own rate hikes, signaling that inflation across the pond was getting under control faster than expected. Powell’s continued testimony further clarified that, if inflation continued on its current downward trend, there would almost certainly be rate cuts this year. Friday’s eagerly awaited jobs reported which is hoped to show wages leveling off with a “still resilient labor market” to provide further justification for rate cuts. But the ECB being on the same trajectory as the Fed bolstered optimism.  Volume came in at 11.45 billion, a little below the 4-week average. 

Wall Street indexes advance as Fed's Powell fuels hopes for rate cuts this year

All three indexes reached considerable highs right around noon, the Dow up some 275 points, then all came plummeting down all afternoon losing most gains but still closing modestly in the black. This was all very odd considering all the day’s good news, not the least of which were very positive comments from Powell that rate cuts were expected this year, recession was not a concern, inflation had “eased substantially,” in other words, everything the markets wants to hear.  

Tech-heavy Nasdaq leads Wall Street lower as megacaps, chips slide

It was a shot straight down on all the indexes as two bad reports, one from Apple and one from AMD, spooked the whole tech sector bringing the tech index down 2% or, as other experts put it, simply taking profits after these huge rallies and ahead of Powell’s testimony Wednesday and Thursday and the payrolls report on Friday. All three indexes retreated steadily to close down more than 1%, the Dow losing 404 points.  Volume continues considerably above average at 13.2 billion. 

S&P 500 edges lower as investors hold their breath ahead of economic data

All three indexes were in the red all day seesawing like crazy, the Dow down as low a 170 points in the morning, then seeing even a little black around 3 pm before falling through the floor again with all three closing modestly lower as investors pause ahead of the week’s key data. The choppiness is attributed to the tug-of-war fears of stocks being overbought coupled with the “fear of missing out” or as today’s expert put it, “Stocks are expensive but that doesn’t mean they can’t get more expensive before some kind of a pullback.” The pause relates to both retail sector reports due Tuesday, payrolls due Friday, and Powell’s Congressional testimony Wednesday and Thursday. Despite the so-called pause, volume remains above average at 12.7 billion. 

Warren Buffett on Why You Shouldn’t Trust Forecasts

Yesterday we took on the basics, today we will go after something a little more sophisticated which is the bare bones reality that the Wall Street gurus are almost always wrong. But we should be grateful for this since we couldn't possibly make money otherwise for if the forecasts were always right, stock prices couldn't move at all. Let's face it - valuations are based on expectations, not performance. When the actuals exceed these expectations, the price goes up, and down when they are below. This topic is now taken on by none other than the great Warren Buffett.  Or as the great screenwriter William Goldman once wisely said, "Nobody knows anything."  

How to Pick Stocks: 5 Things All Beginner Investors Should Know

As I do from time to time, I offer the following as a refresher course in getting back to basics. There are definitely pearls of wisdom here that bear another good look.  Enjoy this beautiful weekend.  

Stocks climb, yields fall as data supports rate cut bets

It was a shot straight up on all the indexes as a series of lukewarm economic reports combined with encouraging remarks from Fed officials once again bolstered hopes for rate cuts this year. Contractions in manufacturing and the U of M report showing weakening consumer confidence added to the rate cut optimism. The S&P hit another record high for a second day. At 12.6 billion, volume was again considerably above average. 

Equities gain on in-line US inflation, Treasury yields dip

All three indexes took a big dive at the outset, the Dow down 140 points at noon.  Then at noon, the entire market took off. It must have been right at noon that the PCE numbers came out. As is often the case, the smart money was all wrong as just yesterday the prediction was that unless there was a substantial dip in the data today, there would be a big sell off.  Instead, the PCE came in just slightly lower than expected which was taken as gleeful news that inflation continued to edge downward instead of upwards. 

Wall St slips with inflation data on deck

The indexes remained on pause again awaiting Thursday’s PCE data to gauge inflation and, subsequently, Fed policy on rate cuts. The expectation is that PCE will come in slightly higher and the consensus is that anything less than a substantial decrease will cause another sell off especially in light of another three Fed officials today saying again that the Fed should be “taking its time” on cuts. 

Stocks pause as key inflation data eyed

It was another seesaw day for tech, though both the S&P and Nasdaq did manage to stay modestly in the black. Not so for the traditional Dow which took a near 200-point hit until noon but then recovered in the afternoon to close at a more modest 96 point loss.  The consensus is that the market is on hold pending more inflation data but the dour expectation is that the PCE will show inflation on a modest rise and with three Fed officials today saying there’s “no rush to cut rates,” investors are expecting that “they are not going to get what they want and so backing up.” 

Global equities index sluggish with inflation in focus, oil climbs

Though all three indexes started in the black, it was a straight shot downhill all day long, except the Nasdaq that saw seesaw action all day, but still straight down, with all three closing modestly in the red. Some called it a breather after last week’s big rally, or it could be caution ahead of the PCE and a round of new inflation data. Reports continue to reflect remarkable resiliency in the economy despite the higher rates, which also triggered selling as a portent of continued “higher for longer.” On the same caution, Treasury yields rose.  Per the CBOE, volume came in at 11 billion. 

Inflation and Interest Rates

With this week's less than enthusiastic inflation data coupled with Thursday's Nvidia report that more or less knocked interest rates right off the front page, I thought I'd submit yet another perspective, this time from the AAII, on the inflation vs rates issue, and how interesting this opinion is that was published just before the Nvidia news.  Enjoy and enjoy your week.  

Not If, But When

Courtesy of Heritage Capital Research, here is a very interesting perspective on the state of the market including their take on the bull market and the Fed cutting rates.  What's interesting is that this was published just before Nvidia's remarkable performance on Thursday that all the smart money, including Heritage, predicted would cause a big sell off. The reality of course was the opposite.  That's what makes the markets so fascinating. Even the smartest people in the room frequently get it wrong.  Enjoy the weekend.  

S&P, Dow eke out another record closing high as Nvidia momentum endures

The Nvidia craze continues with its stock, the Dow, and the S&P all making modest gains which also translates into new modest gains in their records. In fact, Nvidia briefly traded above $2T making it “one of the key companies, if not the key company, driving the S&P and Nasdaq higher.” The chart tells a slightly different story with both the Dow and S&P being way up in the morning but then declining after 11 a.m. and losing almost all gains by close. Still, the success of Big Tech has been so huge that it has pushed Fed worries onto the backburner. Despite the nearly day-long declines, all the sectors ended the day in the black and all three indexes ended the week with an average 1.5% gain. Volume has returned to a more cautionary mode at 10.64 billion. 

S&P 500, Dow surge to record closing highs as Nvidia sparks AI frenzy

It was widely predicted in the last couple days that today would be a down day with a big sell off in Nvidia given that, save a blockbuster report, investors would certainly be taking their profits even if the company beat expectations. Short-selling Nvidia was the game of the day and it’s always a great source of satisfaction when short-sellers fall on their face. That’s exactly what happened when Nvidia fooled everyone and turned in a super-blockbuster report forecasting 3x Q1 revenues and today’s stock price jumping 16.4% adding $277B to its cap, beating out even Meta and giving the short-sellers a $2.9B spanking.  

S&P 500, Dow close slightly up; Nvidia gains after the bell

It was the same pattern as yesterday, everything humming along modestly in the red until 2 p.m. Yesterday, the big drop happened at 11 a.m., today it was exactly 2 p.m. that the bottom precipitously fell out, then began a late and huge surge around 3:30 p.m. to close modestly in the black. That is, all except the Nasdaq which continued to feel the fallout from Nvidia and thus spent the whole session in the red.  After the bell, Nvidia scored with a Q1 revenue forecast above estimates and, having soared 40% this year, Thursday will tell whether its lofty valuations are justified.  

Stocks close lower as Nvidia weighs ahead of earnings

It was a bad day for tech all around, well into the red all day but taking an especially big dive right at 11 a.m. The Dow fared better, being at break-even early on but also taking a big dive right at 11 a.m.  It must have been right at 11 a.m. that Nvidia started to stumble once investors became wary whether the AI giant’s Q4 earnings could justify its valuations. In fact, the day’s sentiment became defined as wariness over whether the whole glorious AI surge has become a bubble. Nvidia’s Q4 report is coming late Wednesday so Thursday will tell.  But as today’s experts pointed out, whether Nvidia comes in over or under expectations, there’s little doubt it will fall as profits are taken.  

The Individual Investor's Guide to the Top Mutual Funds 2024

On this third and final day of Presidents Day weekend, and continuing our theme of choice investments, this month's Members Only article from the AAII gives us a survey of the top mutual funds for this year.  The markets are back in business tomorrow.  

9 Best Mutual Funds to Buy Now

Continuing with this holiday weekend's theme of best investment opportunities, this week's edition of U.S. News Invested talks about mutual funds.  

10 Stocks Warren Buffett Just Bought and Sold

Given the big news from Nvidia this week having knocked both Amazon and Google out of place, I thought this week's U.S. News Invested was particularly topical given that Warren Buffett also made the news for having made a substantial divestment in Apple, along with several other major holdings. So below is a discussion of the ten major stocks in which Buffett has just made a significant reallocation.  There's an education to be had here. Enjoy still another long weekend, at least for the markets.  

Wall Street slides as hot producer price data crimps rate cut bets

What an interesting chart we have today, it’s like the market was having a nervous breakdown, all the indexes starting the day deeply in the red and then bouncing back and forth like a yoyo. At least by 2:30, all was close to break-even, then at exactly 2:40, all three dropped like a rock. It must have been at exactly 2:40 that the PPI report came out. Just as yesterday’s retail sales showing an unexpected drop that stimulated buying, the PPI today showed an unexpected rise that provoked more panic selling. Yesterday there was renewed hope for a May rate cut. Today that is back to June, and even June is now in question as the Fed narrative remains at “higher for longer.” There was also no encouragement from two Fed presidents with both Atlanta and San Francisco issuing statements that “there is more work to do.” Volume was just a little below average at 11.18 billion. 

Wall Street ends higher as retail sales slump feeds hopes for rate cuts

It was another day of bad news being taken as good news and, in today’s case, very good news as, after several months of steady gains in the retail sector, sales dropped almost 1% in January. This stoked a lot of new optimism that rate cuts could be coming sooner as it was a sign that the economy was weakening. The odds of a May cut shot up to 40% vs 36% Tuesday, though June also shot up to a healthy 79% but left the Dow benefiting from “safe” sectors that had been recently declining and, with a 348-point gain, has now recouped almost all the losses from Tuesday.  

Wall Street ends higher, lifted by Uber, Lyft and Nvidia

It was a repeat of Monday with the tech indexes on a steady rise but with the Dow seesawing like crazy between a minus 80 and a plus 170. All closed the session nicely in the black after yesterday’s big panic. Nvidia made big news Monday when it overtook Amazon to become the fourth most valuable U.S. company. Today it made bigger news when it overtook Alphabet and is now the third most valuable company. Tech overall got a big boost, again mainly because of AI.  

Wall St ends sharply lower as hot inflation sparks sell-off

Yesterday’s fence sitting turned into outright panic today when the CPI and PPI numbers nudged above expectations showing increasing inflation and triggering a big selloff from squelched hopes of sooner rate cuts. Even though Fed governors have been warning for a couple weeks now that cuts would be later and the market was being premature, it wasn’t until today’s inflation gauges that it was finally believed. March of course has been off the table for some time but much of the recent rallies were predicated on hopes that the first cut would come in May.  

Nasdaq slips from near all-time high, Dow up modestly ahead of inflation data

The narrative says that everyone was being cautious today but the charts tell a very different story with all the indexes going great guns in the morning, then suddenly falling precipitously at almost exactly 1:15 p.m.  The Dow was up some 260 points, even the Nasdaq bolted almost a hundred, then total collapse at 1:15 p.m. The only conjecture is that investors decided with the coming CPI and PPI that however the numbers are running, hot or cold, it’s not going to change the Fed’s position on cuts and that, therefore, there was a sudden decision not to make any big bets.  

Artificial Intelligence Stocks: The 10 Best AI Companies

The latest and greatest on AI ... 

The Individual Investor's Guide to the Top ETFs 2024

The latest hot stuff from the AAII.  

Megacaps rally pushes S&P 500 to first close above 5,000 milestone

Tech did very well today with both the S&P and Nasdaq taking a shot straight up with the S&P shooting up a whopping 28 points to finally close over the coveted 5,000 mark.  As tech goes, the Dow often goes the other way and today saw the index in the red all day, hitting a low of 170 points down by noon before recovering to a 54-point loss by close. AI was once again the major market mover bolstering the semiconductor index by 2%. The Nasdaq also briefly touched its own major milestone of 16,000 and though neither achievement changes the risk factors, they both do “raise the profile of what’s happening in the market.” 

S&P 500 ends just shy of 5,000 mark after touching milestone

After a lot of exuberant confidence yesterday, today it was back to a lot of seesaw action as the markets returned to business as usual trying to balance rate cuts vs earnings with both the S&P and Dow spending much of the session in the red as a consequence, the Dow down some 130 points by 11:30.  But then both indexes bounced back and both ended the day modestly in the black. The S&P added to optimism by briefly touching the 5,000 milestone. Once again, solid Q4 earnings reports saved the day, especially with tech as the Nasdaq spent the whole day in the black though with much choppiness but with the semiconductor index jumping 1.6%.  

S&P 500 closes at record high; earnings, rate outlook in focus

Yesterday was a day of uncertainty debating between rate cuts and growth, today was once again a day brimming with optimism with investors reveling in growth and the strength of earnings shooting the Dow and Nasdaq both up 3-digits. Once again, the S&P made another record and the 147 points ahead on the Nasdaq has now put that index just 2% shy of its 2021 record. More mixed messages came from the Fed with the Minneapolis Prez predicting up to 3 cuts this year, while the Fed’s Kugler said more positive data is needed.  More than half of Q4 S&P is in with 81.2% beating estimates. Volume was a little below average at 11.2 billion. 

Stocks edge up, Treasury yields slip, China ETFs gain

Choppiness is the only word that really fits today’s market performance with the tech indexes spending much of the day in the red, though closing modestly in the black. The Dow fared better gaining 141 by close but not before going through dozens of peaks and valleys. For the second day, investors are struggling with the opposing questions of rate cuts vs growth, now wondering whether the “soft landing” scenario is even relevant anymore or whether we’re instead heading to a “no landing” future with even acceleration. 

Wall Street equities fall with interest rates, earnings in focus

For the umpteenth time, Powell issued a statement that there was little or no chance of a rate cut in March. Today the markets finally chose to believe him and that sent all the indexes spiraling downwards, the Dow losing 435 points by 11 a.m. and the S&P and Nasdaq faring not much better. But strong earnings from tech enabled both the S&P and Nasdaq to regain almost all of their lost ground before close. The Dow was not so fortunate, recovering only about 1/3 of its losses. But with the markets doing so very well the last three months, a little pullback is actually a good thing. 

Best Stocks to Buy in All 11 Market Sectors

Once again, U.S. News Invested gives their take on the single best stock in each of the 11 S&P market sectors.  

7 Best Vanguard Funds for Beginner Investors

Sat 2-3-24

Once again, getting back to basics ... 

S&P 500 surges to record closing high on solid earnings, robust data

It was just yesterday that investors were celebrating a cooling job market, which was good news on the inflation front, and today there was more celebration of a roaring job market as the January report came in with almost twice the expected number at 353,000 new jobs. Add to that solid Q4 reports from two of the Magnificent Seven – Meta and Amazon – and there was indeed enough celebrating to put the Dow and Nasdaq into 3-digits for a second day and the S&P to still another record high. 

Stocks rally on earnings outlook, yields slip on banking concerns

As is often the case with the markets, what is taken as bad news one day gets repurposed as good news the next. That’s what happened today as, after yesterday’s calamity with the hopes of a March rate cut virtually dashed, today investors took a second look and decided that – hey! Maybe cuts aren’t coming as soon as we’d like but they are coming. Besides which, Q4 is going pretty well.  

Stocks, yields slide as Fed signals no rate cut soon

There obviously was not a lot of confidence in what was coming from the Fed today as was evidenced by the Dow being near flat and the tech indexes being well into the red all day awaiting the announcement.  When it came around 2:30 and Powell made clear that no cuts would be coming anytime soon, certainly not in March, then the whole market tanked taking both the Dow and Nasdaq down over 300 each. 

Nasdaq ends lower ahead of big tech earnings, focus on Fed

It was a picture of caution today as the tech indexes suffered most of the day deeply in the red when both Google and Microsoft fell after their Q4 reports.  There is concern that these “Magnificent Seven” stocks have been doing too well and may be on the verge of underperforming. There was also the jobs report showing an unexpected increase in new openings with not enough workers to hire, adding further concerns that the job market remains too hot for rate cuts to be coming anytime soon, let alone as early as March. (See the chart for the disconnect between jobs and hiring.)  

S&P 500 hits fresh closing high ahead of Fed meeting, big tech earnings

All three indexes were basically flat until about 2 pm when they suddenly zoomed way up, the Dow up 224 points. It’s unclear what happened at 2 pm but it was a constant all day long that a whole slew of new data will be coming throughout the week including a ton of earnings reports, the Fed meeting, a slew of jobs reports, home prices, consumer confidence, purchasing managers, construction, and factory orders. 

Optimism Among Individual Investors Bounced Back Last Year

From the latest AAII, after a terrible 2022 and not so great first 10 months of 2023, optimism is back.  

10 Best Investments for 2024

The headline's a little misleading. It's not really the 10 best investments but the best investments across 10 different categories, which means it's really about some 50 best investments.  But that makes it even more valuable reading. Hope everyone's having a nice weekend.   

Weak Intel forecast drags S&P 500, ends streak of record highs

The third day with the same pattern saw all three indexes up in the morning, reaching a peak around 11 a.m, the Dow up some 160 points, then declining to a low around 2 pm before recovering some of the losses by close. The Dow at least closed in the black, but the tech indexes were dragged down by a slumping Intel forecast with the S&P breaking its five-day record streak. 

S&P 500 extends streak of record highs; Tesla tumbles

It was pretty much a repeat of yesterday with all the indexes starting high, the Dow up some 200 at 10 a.m., then taking a dive to almost break-even until 1 p.m. when it rebounded for the rest of the day to regain all the day’s losses and then some. Tech’s recovery was not nearly as good with the Nasdaq barely making it into the black but the S&P notching a respectable 25 point gain giving it its 5^th consecutive record high.  

S&P 500 ekes out another record high as Netflix and chipmakers leap

The day started out great with all the indexes up substantially, the Dow over 150 points. Then at 1 pm, the whole market started a decline that ended with all the indexes closing at a mere shadow of their intraday highs. The Dow closed down 99 but the Nasdaq and S&P managed to stay ever so modestly in the black. But even with its very modest gain, the S&P notched its fourth consecutive record close and the Nasdaq now stands just 4% below its record from November 2021.  

S&P 500 notches third straight record high close

All three indexes took an early morning dive reaching a low around noon, the Dow down about 200, then recovered with the tech indexes achieving moderate gains by close but the Dow remaining in the red closing down 96.  Trading was lighter as investors await crucial PCE, PMI and Q4 GDP data later this week. There’s also some pessimism creeping into sentiment today with the S&P trading at 20x earnings vs an average of 16 and thus today’s expert predicting, “Earnings for all equity classes peaked and will move lower as the economy weakens and revenue growth stalls.”  

S&P 500 ends with record high for 2nd session in row

Today the indexes were first way up (the Dow at +253 at 10:30), then down (Dow losing 200 by 1:30), then back up again for all 3 to close up very nicely, the S&P notching its 2^nd consecutive record and the Dow closing above 38,000 for the first time. All of this is indicative of very positive overall sentiment with the chart below showing a stellar forecast for the S&P in 2024. But there remains some fence-sitting as investors await a week that will include readings on PCI, PMI and Q4 GDP.  Volume was above average at 11.86 billion. 

AAII: January Charts of Interest: Quality Boosts Returns

It's time for another look behind the scenes at the AAII, tonight it's a look at the January Charts showing per Ben Inker of the firm GMO that quality boosts the returns of most types of stocks.  

Magnificent 7 Stocks: What They Are and How They Dominate the Market

I'm sure you're all at least vaguely familiar with the so-called "Magnificent 7" designation for stocks, which has replaced the FAANG moniker.  This week's edition of U.S. News Invested goes into more detail about which companies make up this elite index and how they made the list.  

S&P 500 notches first record high close in 2 years; chipmakers soar

It was a big shot straight up on all the indexes as the market enjoyed a huge rally triggered by its second consecutive day of AI exuberance and the big boost it gave to chipmakers after Wednesday’s announcement by the world’s biggest chipmaker that it “saw booming demand for high-end chips used in AI.” These two rallies have also finally pushed the S&P beyond the coveted 4,796 high mark achieved on January 3, 2022 and even beat it by 45 points to signal the end of the index’s long bear market and a much anticipated new bull market. 

S&P 500 ends near record high as AI optimism lifts chipmakers

Gains were down until about 1 pm when suddenly all three indexes soared, the S&P once again just a breath away from its January 2022 record close which, once reached, is expected to trigger another bull market. Today’s impetus was stellar performance from the chip companies which bolstered the chip index 3.4% and the overall tech index 2%.  All this week, healthy econ data kept the market down due to rate fears.  Today’s good news had the opposite effect. 

Wall St ends lower, Treasury yields gain as strong data cools rate-cut hopes

All three indexes took a substantial dive as it was yet another day when good news was taken as bad news. Strong December retail sales showed that the consumer remains plenty healthy while weathering both hot inflation and restrictive monetary policy. However, this also painted a picture unfavorable to the timing of the first Fed rate cut, the odds for a March cut now falling to 53.8%, substantially down from yesterday’s 63.1%.  

Wall Street ends down as Apple weighs

It was a shot straight down on all the indexes from the outset, the Dow reaching a loss of almost 400 points, before rebounding after 2:30 pm to close with modest losses on the tech side, a more serious 231 points on the Dow. Though the headline said that Apple was the main drag (China iPhone sales have been disappointing), the real drag were the mega-banks Morgan Stanley and Goldman Sachs bringing down the Dow and the banking index 1.2%. 

AAII: January Model Shadow Stock Portfolio Update

For MLK Day the markets are closed and there isn't much market news out there so I thought I would share the latest AAII update regarding their Shadow Stock Portfolio, which was published on Saturday. You're all well aware that the AAII has maintained this paper portfolio for years and I even recall that, when we had our study group years ago, a few of you had compared the portfolio to others of its kind and found it somewhat lacking. Anyway, for your edification (or amusement), here is the latest.  

New Market Regime

For your Sunday reading pleasure I submit the latest of episode of the PBS program WealthTrack in its discussion of what is now known at the New Market Regime, what it means and how it influences allocation strategies.  Stay warm everyone!  (I experienced 9 outages at my place on Saturday so it's been an interesting weekend, to say the least.  It turned out to be a defective transformer and DTE fixed it late Saturday afternoon, pleased to announce there have been no further incidents, knock wood as the temps dip below zero.)  

8 Best Defense Stocks to Buy Now

For those of you looking for some insurance after the bit of sliding the stock market has taken in January after the huge December rally, here are the latest recommendation for defense stocks courtesy of this week's edition of U.S. News Invested.  

Stocks end little changed as earnings offset inflation data

The Nasdaq and S&P hugged the break-even line pretty closely all day but the Dow went into a deep dive again, down 240 by 11 a.m., bogged down mostly by a hit from United Healthcare which accounted for about half of the slide, but recovered to a 118 loss by close. All of this was rather counterintuitive as the PPI came in with good news, in one short day once again boosting confidence that the Fed could now amply justify rate cuts and suddenly pushing the odds of a March cut to an impressive 79.5%, up from 67.6% two days ago.  Bank stocks also slid bringing the banking index down 1.26%.  Volume remains below average at 10.57 billion. 

Wall Street little changed after inflation, labor market data

All three indexes took a big dive until around noon, the Dow down almost 300 points, with the CPI data showing prices rising more than expected and unemployment data showing a hotter than expected job market. Then a well-received $21B sale of 30-year Treasury bonds helped boost stocks as the indexes all recovered to break-even by close. The good news: “Nobody believes that this [CPI] is going to be a persistent go-forward problem,” while the bad news was Fed officials saying, “consumer price data for December did little to assure them inflation is now on a steady track.”  Volume remains below average at 11.41 billion. 

Stocks climb as megacaps lead; inflation data, earnings on deck

It’s been one day way up, one day way down as investors try to figure out which way inflation and thus rate cuts are going to go.  Today it was once again way up on all three indexes as investors continue to try gauge the direction of inflation and rate cuts. But recent Fed comments have compelled investors to dial back expectations and today was no exception with the New York Fed Prez reiterating again that it’s too soon for rate cuts and still a fair way to go to the 2% inflation goal. 

Stocks ease, yields inch up ahead of US inflation data, earnings

All three indexes opened way down but at least the S&P and Nasdaq managed to recover to close the session at near break-even. The Dow was not so lucky having lost over 300 right out the gate and recovering only half before close. Just as yesterday Treasury yields fell and stocks rose ahead of inflation optimism over the CPI and PPI coming soon, today those same bets were hedged and yields rose and stocks fell as the Treasury sold $52B in 3-year notes. 

Nasdaq ends higher as yields fall, Boeing curbs gains on Dow

It was a shot straight up on all the indexes except the Dow starting over 200 points in the red but steadily moving up 450 points to close up over 200.  It was a day of falling Treasury yields which in turn gave a big boost to the megastocks as investors use falling yields to gauge inflation and thus falling rates. As today’s expert put it, “We’re probably in a more rational place in terms of yields and so far the view is that yields are falling for the right reason.” 

7 Best Vanguard Funds to Buy and Hold

For those of you who are still into good 'ol reliable conservative "buy and hold," here are the best of the best for 2024.  

LEGENDARY VALUE INVESTOR EXCLUSIVE

For those of you favoring value stocks, this most recent episode of WealthTrack gives us the latest and greatest courtesy of an exclusive interview with Bruce Berkowitz, founder of Fairholme Capital Management and widely considered for many years one of Wall Street's foremost value investors.  It is a great rags to riches to rags story.  He talks candidly about the joys of victory and agonies of defeat.  Enjoy.  

Wall Street posts small Friday win, but first weekly decline in ten

There was bad news and good news. The bad was a jobs report showing more hiring than expected, which ordinarily would be good news but, in this case, just douses the hopes of rate cuts coming sooner than later.  The good news was from the ISM report showing falling services sector activity pointing to a weakening economy. Again, this would ordinarily be bad news but in this case bolstered hopes for rate cuts coming sooner than later.  

S&P, Nasdaq extend year-start skid to three; Dow higher on financials

This morning it looked like we might be seeing a day in the green to break the 2-day losing streak as the Dow was up almost 300 at 11:30 and the S&P up over 20. But then started a steady decline that ended with the Dow barely breaking even and the other two with a third day of losses, the first such streak on the S&P in 9 years.  And even though the jobs report was very positive showing a labor market able to continue sustaining the economy.  

Wall St notches second lower finish as 2024 starts with profit-taking

It was a shot straight down at the outset on all the indexes with at least the S&P and Dow recovering much of their losses by 2:30 p.m. only to take another shot straight down in the final hour to have the second consecutive close in the red.  There are two causes – 1) After the blistering year-end rally, it’s time for profit-taking; and 2) for the second day a sudden skepticism over the likelihood of rate cuts. 

S&P, Nasdaq begin 2024 with lower close as Apple, big tech weighs

The Dow seesawed back and forth four times today, losing almost 200 points twice before recovering to a 25 point gain. The Nasdaq and S&P didn’t fare nearly as well, both in the red all day.  The Nasdaq was hit hard by weakening iPhone sales. The S&P was within 1% of its record on Friday, today slipping to 1.6%. After an end-of-year gangbuster rally, today it was time to temper rate cut expectations. Thus, Treasury yields went up and equities down. Coming later this week is Fed minutes and a whole lot more labor data.  Volume was a little below average at 11.86 billion. 

AAII Model Shadow Stock Portfolio Annual Review

This is a heads-up for the next AAII webinar to be held a week from today, 3 pm EST next Monday. A link for registration can be found below.  Happy New Year!