The opinions expressed below are my own and do not necessarily represent those of Visdom Investment Group, LLC.
Incredibly uninteresting.
Futures did very little overnight and regular hours traders did the same. The S&P 500 opened +2 and stayed between +12 and -8 over the full session. That’s a yawner. Capital flow was almost normal at 98%. Yields fell 2-5 bips across the curve. Headlines were boring and markets were in no mood to shake, rattle, or roll. We go into the 3-day weekend gently and without concern.
Since there is almost nothing to discuss today. Let’s just check in on the state of some things.
Earnings season:
Here’s the plot of the percentage of reporting stocks that beat the analyst expectations.
The takeaway? The current season is OK. Not great, not bad.
Interest rates:
Here’s the 1-year plot of yields for the 2 yr, 5 yr, and 10 yr US Treasury instruments.
The takeaway? Yields are up from September and sorta flat from a year ago…. There’s no obvious trend, so who knows where they go next.
The S&P 500 chart:
The takeaway? Most everyone thinks we’ll keep going up.
Markets are closed for President’s Day Monday. See you Tuesday, enjoy the long weekend.
-Mike
IMPORTANT INFORMATION
This is general educational information and market commentary and is intended for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction.
All market and economic data herein is as of the date hereof and sourced from Bloomberg unless otherwise stated. The information is subject to change without notice and we have no obligation to update you.
This general market commentary is intended for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The views and opinions expressed constitute the author(s) judgment based on current market conditions, are subject to change without notice, and may differ from those expressed by other employees of Visdom Investment Group LLC ("Visdom") and Visdom. Past performance and any forward-looking statements are not guarantees of future results. It is not possible to invest directly in an index.
We believe the information contained in this material to be reliable and have sought to take reasonable care in its preparation; however, we do not represent or warrant its accuracy, reliability or completeness, or accept any liability for any loss or damage (whether direct or indirect) arising out of the use of all or any part of this material. Any securities referenced are shown for illustrative purposes only, and are not intended as a recommendation or endorsement by Visdom or by the author(s) in this context. The information presented is not intended to be making value judgments on the preferred outcome of any government decision. This information does not constitute Visdom research, nor should it be considered a recommendation of a particular investment strategy or an offer or solicitation for the purchase or sale of any financial instrument. Investing involves market risk, including the possible loss of principal. You should speak to your financial advisor before making any investment decisions. Visdom and its affiliates do not provide legal, tax or account advice so you should seek professional guidance if you have questions.
