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Tech Stocks Power Narrow Market Rally with Earnings from Regional Banks in Focus

Jul 17, 2023
Barry Adams
Tech stocks led market averages higher and investors shifted focus on upcoming earnings. Earnings from regional banks will be in focus after leading banks reported earnings ahead of market expectations and showed rising deposit costs.

U.S. Market Averages Rest and Treasury Yields Edge Lower Ahead of Earnings

Jul 17, 2023
Barry Adams
Stocks rested in early trading after market averages were nearly unchanged after solid advances of two weeks in a row. Treasury yields retained downward bias. Crude oil declined 1% and copper eased.

Third Inflation Report Indicates Cooling Trend, S&P 500 and Nasdaq Extend Weekly and Yearly Gains

Jul 14, 2023
Barry Adams
Major averages advanced and extended weekly and this year's gains after banks reported better-than-expected earnings. Import price inflation index dropped sharply, third inflation report this week indicating waning inflation pressures.

4-Day Rally Lifts S&P 500 and Nasdaq to 2023 Highs

Jul 13, 2023
Barry Adams
Lighter-than-expected wholesale inflation raised hopes on Wall Street and major averages closed at their highs in the year. Investors are awaiting earnings results from leading banks on Friday.

S&P 500 and Nasdaq Extend 4-day Rally After Wholesale Inflation Eased

Jul 13, 2023
Barry Adams
Major averages on Wall Street advanced following the decline in wholesale inflation confirming the weakening goods inflationary pressures.

Stocks Meandered After Nonfarm Payrolls Report

Jul 7, 2023
Barry Adams
Stocks turned volatile after the release of the non-farm payrolls report for the month of June. Treasury yields advanced and mortgage rates traded at a two-decade high.

ADP Report Unnerved Markets, Stocks Fall, Yields and Mortgage Rates Rise

Jul 6, 2023
Barry Adams
The yield on 10-year Treasury bonds crossed 4% for the first time since March and mortgage rates rose above 7%, the level last seen in November. Interest rate sensitive sectors including steelmakers, homebuilders and regional banks dropped.



Market Indexes Declined 1.4% After Strong Jobs Report Stoked Rate Hike Fears

Jul 6, 2023
Barry Adams
Market averages turned lower after a hotter-than-expected payrolls report stoked fears of rate hikes at the next policy meeting. Private sector payrolls surged after the travel and hospitality industry continued adding staff at brisk pace.

U.S. Stocks Slide and Treasury Yields Jump After Fed Sees More Rate Hikes

Jul 5, 2023
Barry Adams
Major averages remained under pressure after almost all policy members supported higher rates and more restrictive policy may be needed in bringing down inflation to the central bank's goal of 2%.

Major Averages Face Headwinds On Lingering Rate Path Worries

Jul 5, 2023
Barry Adams
Manor averages on Wall Street struggled after services growth decelerated in China, UK and the Euro Area. Tech stocks rested with a downward bias after six weeks of advance.

Major Averages Inch Higher On Wall Street, EV Makers Surge Ahead

Jul 3, 2023
Barry Adams
Stocks advanced on the start of the second half. Crude oil prices declined on demand worries. Electric vehicle makers were in focus after Tesla, Rivian and BYD reported production data.

Stable U.S. Market Averages After Stellar First Half

Jul 3, 2023
Barry Adams
Major averages were nearly unchanged on the first trading of the second half after indexes reported a surprise rally in the first half. Tesla jumped following record quarterly sales and deliveries.

Benign Inflation Measure Powered Another Day Of Market Rally

Jun 30, 2023
Barry Adams
Stocks advanced on the final day of the week after the preferred measure of inflation slowed in May. Tech-heavy Nasdaq Composite index is set to deliver its best performance in the first half in four decades.

Bullish Undertone Drives Market Averages Higher in U.S. and Europe

Jun 29, 2023
Barry Adams
The latest GDP revision added to a string of positive economic data this week after durable goods orders expanded and new homes sales advanced. Tech-heavy Nasdaq Composite index is set to report its best first half return since its inception in 1971.



Major Averages In Holding Pattern After Q1 GDP Revised Higher and Annual Bank Stress Test Results

Jun 29, 2023
Barry Adams
U.S. economic growth in the first quarter was sharply revised higher in the third estimate after consumer and public spending rose more than previously estimated. Stocks traded near the flatline and tech stocks and banks were in focus. Top 23 banks passed the annual stress test conducted by the Federal Reserve.