Social Media Stocks - Momentum Tech Names Sell Off Again Social Media Stocks - My point that Amazon was overbought on Tuesday has been proven correct as the stock is down 3.98% in the past 2 days. It fell 1.83% on Thursday. It was one of many momentum internet names which declined. Apple stock fell
Private Sector Job Creation Misses Estimates Private Sector - The ADP report is used to forecast the BLS monthly jobs report. In May and June the ADP report was below the BLS report. Therefore, when it came in strong in July, economists were expecting a blowout BLS report. Instead, it missed estimat
Tech Stocks Crater - Sending Overall Market Slightly Lower Tech Stocks Crater - The overall market sold off modestly as it was brought down by tech. The S P 500 was down 0.28% and the Russell 2000 was down 0.33%. The tech heavy Nasdaq was down 1.19%. The worst sectors were consumer discretionary and
Global Manufacturing PMI Falls Global Manufacturing PMI - Weakness in trade growth is expected. The JP Morgan global manufacturing PMI has been declining as you can see in the chart below. The input prices index has been elevated since mid-2017. New orders, headline PMI, and output have been declini
Amazon Hits A $1 Trillion Market Cap Amazon - Even though stocks fell, Amazon became the 2nd firm to reach a $1 trillion market cap as its stock was up 1.33%. This stock has been on a one way trip up as it is up 10.38% in the past month. If Apple sells off after its
ISM Manufacturing PMI - Markit PMI Shows Moderation ISM Manufacturing PMI - The August Markit manufacturing report showed slight weakness. It was overshadowed by the remarkably strong ISM PMI report which I will review later in this article. As you can see from the chart below, the Markit PMI was 54
Nasdaq - Mixed Friday Market Nasdaq - The stock market was mixed on Friday as the Dow was down 9 basis points, the S P 500 was up one basis point. The Nasdaq was up 0.26%, and the Russell 2000 was up 0.48%. VIX was down 4.95%. As you would expect with that type of action, the
Argentinian Peso - Argentina May Default Argentinian Peso - Emerging market stocks and currencies plummeted further even with the decline in the dollar. The MSCI emerging market equity ETF fell 2.66% on Thursday. One of the catalysts for the decline was the chaos in Argentina as its central bank hik
Core PCE Inflation - Personal Income Meets Estimates Core PCE Inflation - The July Personal Income and Outlays report was released on Thursday. This is the most important report I follow because it tells us about income growth, inflation, and consumer spending. The Fed follows core PCE inflation the
