Wall Street stocks fall as markets weigh strong wage data, Fed meeting

It was big shot straight down on all the indexes, the Dow taking a whopping 570 point loss, the Nasdaq also in a 3-digit dump, on news that wages had increased more than expected – 1.2% in Q1. This combined with consumer confidence sinking to its lowest level in 1-1/2 years left the market defeated with worsening inflation and little hope of rate cuts. Today the forecast for cuts this year was lowered to 31 bps down from 150 in January. 

Wall Street stocks finish higher as investors focus on Fed moves

There was a lot of seesaw action today with all the indexes reaching highs around 2 pm, then sliding down to zero by 3 pm only to recover again in the final hour. The Dow alone gained over 160 points before diving to near break-even and then back up again.  This was largely due to anticipation over several major events coming this week, least of all not the Fed hoping that there aren’t any more hawkish comments. Certainly, no rate cuts are coming this month but there is concern that the statements may be even worse than before, which are already plenty hawkish enough.  

7 of the Best High-Dividend ETFs to Buy Now

Continuing on this weekend's theme of the latest and greatest investment opportunities, here are the best ETFs right now for high dividends, for those of you wishing to invest for income.  

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.