Markets march higher, ignoring DC

So with all the pomp and circumstance of the House Impeachment on Wednesday evening, the market and investors (around the world) could care less. The reaction that Nancy Pelosi had hoped for, never happened and in fact, investors met her head on and took the market higher in celebration of what they view as continuing [...]

By |2019-12-20T10:05:54-05:00December 20th, 2019|Morning Thoughts by Kenny Polcari|

The story remains the same: TRADE.

Stocks managed to hold onto the recent gains (barely, but they did), closing higher for the fifth consecutive session. Strength in retailers (Consumer Discretionary (XLY)) continues as the holiday shopping season approaches the end. Banks (XLF), Tech (XLK), Communications (XLC), and even Utilities (XLU) were not far behind. Selling was seen in energy, consumer staples, [...]

By |2019-12-18T10:01:57-05:00December 18th, 2019|Morning Thoughts by Kenny Polcari|

The global economy is just fine

The global economy is just fine. Chinese economic data (Industrial Output and Consumer Spending) is better than expected, causing economists at both UBS and Oxford Economics to raise their 2020 China GDP forecasts from 5.7% to 6%. US Markit Service AND Manufacturing PMI’s (Purchasing Managers Index) are both in expansion mode. Yesterday both of those [...]

By |2019-12-17T10:05:40-05:00December 17th, 2019|Morning Thoughts by Kenny Polcari|

The Fed Stays The Course

Federal Reserve Keeps Interest Rates Steady, Sees Long Pause – WSJ 12/12/19 Jay Powell spoke and the markets embraced it. At the conference – Jay said: “Our economic outlook remains a favorable one”. And then indicated that the 10 members of the rate setting committee voted unanimously to leave rates unchanged for the next year. [...]

By |2019-12-12T10:04:03-05:00December 12th, 2019|Morning Thoughts by Kenny Polcari|

Stocks meandered most of the day

Stocks meandered most of the day, doing nothing really as investors/traders/algos sit and wait and wait and wait…for today’s FOMC (Federal Open Market Committee) rate announcement (no change) and Sunday’s trade deadline. There was plenty of other news: Nancy (Pelosi) and The Dems came to the table and agreed to administration terms that support the [...]

By |2019-12-11T10:14:56-05:00December 11th, 2019|Morning Thoughts by Kenny Polcari|

Friday’s job report was a winner

Friday’s job report was a winner, blowing the roof off the house by every measure and signaling continued strength in the US economy. It put to bed any idea that the supposed global weakening was affecting our economy. The report, which was expected to show 187k new jobs created in November, actually showed 266k new [...]

By |2019-12-09T10:05:56-05:00December 9th, 2019|Morning Thoughts by Kenny Polcari|