Timothy Graham

All-time highs once again on Wednesday, with the S&P 500 and Nasdaq gaining 1.0% and 1.6%, respectively. President Donald Trump’s extension of a ceasefire with Iran revived risk appetites after a two-day retreat. All sectors except real estate, industrials, and financials rose with technology, energy, and communication services leading the gainers. Risk-on remains the sentiment as we approach the end of April, with semiconductors leading the charge and the SOX (+2.7%) now up almost 40% this yea…

US stocks recovered all their earlier losses as volatility returned to Wall Street following President Trump’s prime-time Wednesday address. The speech on Iran left investors with little hope for a quick resolution to the conflict but Trump said he was still seeking a diplomatic agreement. The S&P 500 rose just 0.1% after slumping as much as 1.5% in early trading Thursday and the Nasdaq 100 was only up 0.1%. Stocks pared earlier losses following a report that Iran is drafting a protocol with Om…

It was a day of headlines some true and some untrue. None more interesting than a tweet by Energy Secretary Wright claiming, “The U.S. Navy successfully escorted an oil tanker through the Strait of Hormuz to ensure oil remains flowing to global markets” which was later deleted and White House Press Secretary saying ″The US Navy has not escorted a tanker or a vessel at this time”. Oil prices whipsawed following the updates, falling as much as 17% before it was retracted. Adding to the volatility…

US equity markets posted modest gains today, with the S&P 500 rising 0.5% and the Nasdaq Composite advancing 0.8%. Technology stocks led the rally, with the Nasdaq 100 rallying 1.3% earlier in the session. Tech rebounded from AI concerns with Nvidia leading the Mag 7 stocks higher after Meta (+0.6%) agreed to deploy millions of Nvidia (+2.2%) processors over the next few years. In contrast, defensive sectors lagged with Utilities and Telecoms performing the weakest. Stocks trimmed some gains af…

Where to even begin today…Both the S&P 500 and Nasdaq struggled to find their footing throughout the session, what started out as relatively quiet morning turn negative quickly with weakness in software and tech once again. There seems to be a healthy dose of AI skepticism growing in the market with the semis on track for its worst day in 3m. The SOX fell more than 4% with its next support level at the 200d (7392) which is only 2% below current level, a breakdown of this support would flash war…

What started out as a relatively quiet day in terms of headlines turned quickly in the last 90 mins of the trading session. Trump announced that there was a framework in place with NATO for a future deal to take possession of Greenland. After the announcement he said he would refrain from imposing tariffs on goods from European nations that were due to take effect February 1s. Main US indexes immediately looked to the sky and took off with the S&P 500 and Nasdaq rising 1.1% and 1.2%, respective…

Markets remained choppy across all major us indexes today with the Russel 2000 outperforming the broader indexes. The S&P 500 was stuck in a sideways direction while the Nasdaq underperformed right from morning bell and never recovered. US treasury rates ticked higher following weekly jobless data that was below expectations. The US 10YR has slowly ticked its way back near 4.2% which looks to be a firm level. Given the lack of economic data over the past few months, it seems we a primed for som…

Futures fell quickly before the open following a report that Microsoft lowered its AI software sales quotas but that didn’t stop markets from pushing higher. The S&P was up for the 7th day in the last 8 with the all-time high in its crosshairs, while the Russel 2000 outperformed drastically today and the Dow gained more than 400 points. The outperformance in the Russell 2000 and Dow Jones followed some welcomed ISM services data. The ISM services Index rose slightly to 52.6 (est. 52) while pric…

Most economic data continues to be on pause due to the extended government shutdown (37th day) but this morning traders focused on a less loved data point in Challenger Job cuts. Tracking job cut announcements YoY the index rose 175% in October adding to worries about a weaker labor market. While the number was elevated it was the not the highest number of the year coming in behind March which saw at uptick to 205% YoY. Cuts in technology were the highest as AI use grows. Yields and US indexes…