The opinions expressed below are my own and do not necessarily represent those of Visdom Investment Group, LLC.
Long weekend
Headlines were relatively tame and the handful of S&P 500 companies that reported, didn’t wow. Premarket futures were bid +20 points and the index opened about the same, but it lost value quickly and was down 20 points in the morning trading. Longs and shorts balanced each other out by lunch and the index spent the rest of the session quietly bumping along, from flat to +10 points, fading small at the close. The Supreme Court didn’t announce their tariff decision and markets churned about on their own. Capital flow was slightly higher, 113%, and interesting print considering how little the market moved. Yields did climb across the curve again, so maybe the bond market continues to act as a governor on the equity upside.
Today feels very much like investors punted. News that broke didn’t move markets and in the absence of the Supreme Court ruling, investors didn’t feel like pushing a trend. Neither the bulls nor the bears could control today’s tape and we essentially maintain the status quo over the long weekend.
Monday is a holiday, Martin Luther King, Jr. Day, and the markets will be closed. This week, and today’s trading, doesn’t establish a momentum for continuation. Interestingly enough, we’re also lacking a narrative. There’s no consensus story out there about earnings season or the health of the market. Perhaps some event happens over the long weekend which seeds a narrative.
If not, Tuesday will likely be a quiet extension of today.
See you then, have a great weekend.
-Mike
Visdom Market Commentary
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.
