SPDR S&P 500 Trust ETF (SPY) - NYSEARCA
  • Wed, Jun. 15, 2:22 PM
    • The Fed held policy steady, but dialed back its expectations for rate hikes for the rest of this year and next.
    • The Dow (DIA +0.3%), S&P 500 (SPY +0.3%), and Nasdaq (QQQ +0.1%) continue with modest gains.
    • Gold (GLD +0.7%) adds about $5 per ounce to $1,294, and the dollar (UUP -0.6%) is lower since the news hit at 2 ET. Janet Yellen's press conference begins at 2:30.
    | Wed, Jun. 15, 2:22 PM | 6 Comments
  • Wed, Jun. 15, 7:11 AM
    • The FOMC concludes its two-day meeting today, and no rate hike is expected. Investors, however, will have the policy statement to decipher, as well as updated economic projections and "dots," and a Janet Yellen press conference.
    • Asia was higher across the board overnight, and Europe's ahead 1.2% at midday. U.S. stock index futures are up 0.25%.
    • Rates are bouncing as well, with the German 10-year Bund yield up a whopping eight-tenths of a basis point, and back in positive territory. The U.S. 10-year yield is higher by 1.6 basis points to 1.63%.
    • Gold's down a couple of dollars, and crude oil is lower by 1% to $48 per barrel.
    • ETFs: SPY, QQQ, DIA, SH, SSO, VOO, SDS, IVV, SPXU, TQQQ, UPRO, PSQ, SPXL, RSP, SPXS, SQQQ, QID, DOG, QLD, DXD, UDOW, RWL, SDOW, VFINX, EPS, DDM, QQEW, BXUB, QQQE, SPLX, SFLA, BXUC, QQXT, SPUU, SPXE, LLSP, UDPIX, OTPIX, RYARX, SPXN, SPXT, SPXV
    | Wed, Jun. 15, 7:11 AM | 6 Comments
  • Fri, Jun. 3, 8:42 AM
    • Alongside just 38K jobs added to payrolls in May (vs. 164K expected), April's 160K gain was revised lower by 37K jobs, and 22K jobs were cut from March's originally-reported 208K gain. That adds up to 59K in downward revisions for those two months.
    • The unemployment rate is looking great though - falling to 4.7% from 5% - thanks to the labor force participation rate dropping to 62.6% from 62.8%. The participation rate is now down by 40 basis points in the last three months.
    • The broader U-6 unemployment fell was unchanged at 9.7%.
    • The average workweek was unchanged at 34.4 hours. Average hourly earnings increased by a nickel to $25.59. On a Y/Y basis, earnings are up 2.5%.
    • Looking at the job totals in more detail, employment in information fell 34K in May, with the Verizon strike pulling 35K workers off company payrolls.
    • U.S. stock index futures (SPY, QQQ, DIA) have turned modestly lower following the headline miss, but the real action is in the bond market, where the 10-year Treasury yield has tumbled seven basis points to 1.73%. TLT +0.75%, TBT -1.5%
    | Fri, Jun. 3, 8:42 AM | 24 Comments
  • Wed, May 25, 3:00 PM
    • Oil's knocking on the door of $50 per barrel behind some bullish inventory numbers released last night and this morning, and it's got the energy sector (XLE +1.4%) leading the major averages nicely higher for a 2nd straight session.
    • The Dow (DIA +0.8%), S&P 500 (SPY +0.6%), and Nasdaq 100 (QQQ +0.6%)
    • Meanwhile in rates, the 10-year Treasury yield is flat at 1.87% and short-term rate markets are pricing in about a 60% chance of a Fed move in either June or July.
    | Wed, May 25, 3:00 PM | 3 Comments
  • Thu, May 19, 10:12 AM
    • The Fed nearly went all-in yesterday, with FOMC minutes stopping just short of promising a June rate hike. The minutes are not an actual transcription of the policy meeting, but instead a negotiated and agreed upon summary of what took place. The line about "most participants" thinking it likely a June rate hike would be appropriate was not in there by accident.
    • If history is any guide, markets have a way bigger stack than the Fed, and a swoon in equity prices a la January could have the central bank backtracking. It should make for an interesting couple of weeks.
    • The Dow (NYSEARCA:DIA), S&P 500 (NYSEARCA:SPY), and Nasdaq (NASDAQ:QQQ) are all lower by 0.9% in early action (though Dow component Wal-Mart is up 8.6%), and the 10-year Treasury yield is pulling back from its big jump yesterday - currently lower by 2 basis points to 1.83%. TLT +0.55%, TBT -1.1%
    • Fed Funds futures are pricing in a one-in-three chance of a June hike.
    | Thu, May 19, 10:12 AM | 52 Comments
  • Thu, May 19, 7:29 AM
    | Thu, May 19, 7:29 AM | 4 Comments
  • Wed, May 18, 2:11 PM
    • Turns out those hawkish Fed speakers yesterday were prepping markets for today's FOMC minutes, which show "most" on the committee as expecting the next rate hike to be in June.
    • To review: At the start of the week, short-term rate markets had been expecting less than a 5% chance of tighter policy in June.
    • Up 100 points earlier, the Dow (NYSEARCA:DIA) has turned negative, as has the S&P 500 (NYSEARCA:SPY). The Nasdaq (NASDAQ:QQQ) is holding onto a slim gain. Yield-starved financials (XLF, KRE, KBE) are holding onto very big gains.
    • The 10-year Treasury yield is up six basis points to 1.84%. TLT -1.1%
    | Wed, May 18, 2:11 PM | 40 Comments
  • Wed, May 18, 9:56 AM
    • Target is suffering its worst drop in nearly a decade after disappointing results and guidance. The stock's off 9.6%, and dragging down other retailers, including Dow (DIA -0.2%) component Wal-Mart, which is lower by 2.7%.
    • The worst-performing S&P 500 (SPY -0.1%) sector is the Consumer Staples (XLY -0.6%).
    • The Nasdaq (QQQ +0.2%) is unscathed.
    | Wed, May 18, 9:56 AM | 27 Comments
  • Mon, May 16, 2:54 PM
    • Oil skied another 3.3% today to $47.71 per barrel - it's highest close since early November. The move is leading a 1.7% advance in the XLE, which in turn is leading a 1.15% gain in the S&P 500 (NYSEARCA:SPY). The Nasdaq (NASDAQ:QQQ) is higher by 1.5%, led by Apple's 4% gain as Berkshire Hathaway discloses a near-$1B stake.
    | Mon, May 16, 2:54 PM | 6 Comments
  • Tue, May 10, 2:34 PM
    • No sooner than it's noticed that the S&P 500 hasn't moved more than 1% in either direction for the last month, the S&P 500 (NYSEARCA:SPY) is up 1.1%.
    • It's a broad gain, with financials (XLF +1.2%), energy (XLE +1.6%), and materials (XLB +1.6%) leading the way.
    • Gold's little-changed, oil's higher by 2.45% to $44.51, and the 10-year Treasury yield is up one basis point to 1.755%.
    | Tue, May 10, 2:34 PM | 29 Comments
  • Fri, May 6, 8:47 AM
    • U.S. stock index futures have about doubled losses since April's jobs report, with the S&P 500 (NYSEARCA:SPY) and Nasdaq 100 (NASDAQ:QQQdown 0.55%, and DJIA (NYSEARCA:DIAdown 0.5%.
    • 160K jobs were added in April vs. expectations for 202K. The unemployment rate held steady at 5% as the labor force participation rate fell to 62.8% from 63%.
    • The 10-year Treasury yield is lower by 2.5 basis points to 1.72%. TLT +0.3%, TBT -0.6%.
    • The dollar (UUP, UDN) is all over the place - knee-jerking sharply lower as the numbers hit at 8:30, but now back to where it was prior to the report, down marginally on the session.
    • Previously: Jobs disappoint; UE rate steady thanks to dip in labor force participation (May 6)
    • Previously: April jobs numbers fall short (May 6)
    | Fri, May 6, 8:47 AM | 19 Comments
  • Thu, May 5, 7:12 AM
    | Thu, May 5, 7:12 AM | 11 Comments
  • Tue, May 3, 10:11 AM
    • The Dow (NYSEARCA:DIA), S&P 500 (NYSEARCA:SPY), and Nasdaq (NASDAQ:QQQ) are all down 1% or more in the early going, with renewed global growth fears as good of an excuse as any. China overnight reported weaker-than-hoped manufacturing data, Australia surprised with a rate cut, and the EU was out with dour growth/inflation forecasts.
    • What's working today? Apple is higher by 0.4% after what sniffs of a panicky move by its CEO Tim Cook to appear on CNBC's Mad Money. via Jeff Matthews ... Scariest Sentence You'll Ever Hear Dept: "I think the long-term thesis is intact" on China. Home gamers will know Cook last appeared on the show a bit more than a year ago. Apple was a $130 stock then.
    • Money is flocking into government paper, with the U.S. 10-year Treasury yield lower by 8.5 basis points to 1.79%. TLT +1.5%, TBT -3%
    | Tue, May 3, 10:11 AM | 16 Comments
  • Tue, May 3, 7:24 AM
    | Tue, May 3, 7:24 AM | 10 Comments
  • Fri, Apr. 29, 2:48 PM
    • A getting nastier two-day slide has the S&P 500 (SPY -1%) back to where it started the month, though still up more than 2% for the year.
    • Meanwhile, the Nasdaq (QQQ -0.9%) is now lower by 4% on the month amid Apple's more than 15% decline. The Nasdaq has now turned modestly negative for 2016.
    | Fri, Apr. 29, 2:48 PM | 12 Comments
  • Thu, Apr. 28, 7:09 AM
    • Markets had been expecting the Bank of Japan to ease policy further - be it a deeper dive into negative rate territory and boosted asset purchases. When the bank did neither overnight, the Nikkei tumbled more than 3% and the yen soared by a similar amount.
    • The rest of Asia was little-changed, but Europe's down more than 1%, and Dow and S&P 500 futures are lower by 0.8%. Buoyed by a 10% gain in Facebook after its earnings last night, Nasdaq 100 futures are down 0.5%.
    • The 10-year Treasury yield is lower by 1.5 basis points to 1.84%, gold is up a couple of dollars per ounce, and oil is flat.
    • Alongside a rush of earnings reports, the government at 8:30 ET takes its first stab at Q1 GDP growth - it's expected to come in at 0.7% vs. 1.4% in Q4.
    • ETFs: SPY, QQQ, DIA, SH, SSO, VOO, SDS, IVV, SPXU, TQQQ, UPRO, PSQ, SPXL, RSP, SPXS, SQQQ, QID, DOG, QLD, DXD, UDOW, RWL, SDOW, VFINX, EPS, DDM, QQEW, BXUB, QQQE, SPLX, SFLA, BXUC, QQXT, SPUU, LLSP, UDPIX, OTPIX, RYARX
    | Thu, Apr. 28, 7:09 AM | 12 Comments
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