March 31, 2024 | Daily JAM, Short Term |
The results are in. And, surprise the technology sector didn’t lead the market in the first quarter. In fact the 8.8% gain for the Technology Select Sector SPDR ETF (XLK), which tracks the S&P 500’s information technology sector, trailed the 10% gain for the Standard & Poor’s 500 index. And several other sectors outperformed the XLK ETF.
October 14, 2022 | Daily JAM, Dividend Income, TFC |
I don’t like the economic and financial environment looming ahead for banks. I see bad loans rising with a need to reserve more against bad loans. Slowing economies aren’t good for loan demand or credit card delinquencies either. So I’m taking advantage of this moment to sell Truist Financial out of this portfolio in spite of the stock’s hefty dividend. I’ve got a loss on this position of 4.07% since I added it to this portfolio on June 13, 2022. The stock is down 22.19% for 2022 to date as of the close on October 12.
March 30, 2021 | Daily JAM, Morning Briefing |
You can judge the stock market’s mood pretty accurately today, Tuesday, March 30, from just a few price movements. Take a look at the performance of bank stocks, the small cap Russell 2000, the CBOE VIX “fear index,” and technology stocks to see where we’re likely to be headed for the rest of this week.
March 18, 2021 | Daily JAM, Morning Briefing |
After not moving very much yesterday on the actual news from the Federal Reserve-the Standard & Poor’s 500 finished up 0.29% and the NASDSQ Composite closed higher by 0.40%, today, March 18, markets decided they really didn’t like the Fed’s stance on inflation, interest rates, and bond yields.
A day after Fed chair Jerome Powell said the Fed wasn’t much concerned about either the projects for higher inflation or the rise in Treasury yields, the yield on the 10-year Treasury spiked to 1.71% at the close. (It was at 1.74% as 1 p.m. in New York.) The closing yield amounted to a jump of 7 basis points in the yield on the benchmark Treasury issue. The yield on the 10-year Treasury is now up an astonishing 42 basis points in a month. And as has been the case in 2021 and as you might expect, stocks sold off with high multiple, high momentum technology shares taking the worst beating.
September 11, 2020 | Daily JAM, Morning Briefing |
Three stocks in the Standard & Poor's 500 were up for every two that were down as the index turned in a day with very little movement--a gain of 0.05% at the close on September 11. The Dow Jones Industrial Average was ahead a bit more at 0.48% That lack of...
August 24, 2020 | Daily JAM, Morning Briefing |
Yesterdays "good news" press event from President Donald Trump started U.S. stocks on an upward trend this morning. As of noon New York time, the Standard & Poor's 500 was up 0.73% and the Dow Jones Industrial Average was ahead 0.99%. The NASDAQ Composite has...
July 21, 2020 | Daily JAM, Mid Term, Morning Briefing |
Of course, there isn't actually a Republican bill in the Senate yet, but in a floor speech today Senate Majority Leader Mitch McConnell said “The American economy needs another shot of adrenaline.” McConnell also noted that infections are “climbing in hot spots around...
May 21, 2019 | Daily JAM, Short Term |
Here's one set of ETFs I'm watching right now for signs that the market is headed for a breakdown--and reassurance that it's just trapped in one of those rotation things. On Monday, May 20, the Technology Select Sector SPDR ETF (XLK) fell like a stone, dropping 1.74%...
April 3, 2019 | Daily JAM, Short Term, You Might Have Missed |
Today, Wednesday April 3, action in the three legs that support stocks near the highs for 2019 pointed toward significant risk for Thursday and Friday. The Standard & Poor's 500 index closed the day up 0.21% at 2873. Leg 1 for the market: The financials, the...
September 28, 2018 | Daily JAM, Short Term, Volatility, You Might Have Missed |
Here's the historical wisdom: Bank stocks go up when the Federal Reserve raises interest rates. The logic is simple and rather compelling--when the Fed raises interest rates banks see the rate at which they can lend out money--the long term interest rate rise faster...
June 29, 2018 | BAC, Daily JAM, Morning Briefing |
With most of the country's banks passing the Federal Reserve's latest stress test yesterday--which leaves them free to increase dividends and buy back more shares--the financial sector is leading the markets higher this morning. As of 11 a.m. New York time the...
May 22, 2018 | Daily JAM, Morning Briefing |
The financial sector is up again today with the Financial Select Sector SPDR ETF (XFL) up 0.96% as of 3 p.m. New York time. This continues a strong May run for the sector that has seen the ETF climb 5.6% from May 3–after the sector spent there period from March 23 to May 3 building a base.