Fed Minutes Land Today. Stocks Say Relax. The Bond Market Isn’t Listening. The Fed minutes arrive at 2 p.m. Eastern Wednesday, and Wall Street walks in with an odd split screen. Stocks sit at records. Bonds look nervous. Tuesday made the contrast plain. The S&P 500 touched a fresh all-time intraday high. The Nasdaq Composite […] More
The Government Shutdown Stock Market Standoff Enters Week Two — And Wall Street Still Isn’t Blinking The government shutdown stock market relationship has a strange pattern this year: Washington shuts down. Wall Street shrugs. Six days in, and counting. The federal government closed its doors October 1st after lawmakers failed to pass a funding bill, […] More
Weak Jobs Report Gives Wall Street a Reprieve as Bond Yields Retreat The 10-year Treasury yield fell about six basis points to 5.18% on Friday after an unexpectedly weak September jobs report cooled expectations for another Federal Reserve rate hike. The miss was wide. Employers added just 29,000 jobs, against a forecast of 84,000. CNBCCNBC […] More
The Bond Market Selloff Just Drowned Out the Good News. Again. The bond market selloff reached a new milestone Thursday morning. Treasury yields surged to their highest levels in more than two decades. Stocks barely noticed at the open, then started to wobble. That’s the strange part. Wednesday’s inflation data was supposed to help. Core […] More
The U.S. stock market rallied Wednesday after softer-than-expected August PCE inflation gave investors a fresh reason to believe the Federal Reserve may not raise interest rates at its October meeting. The move was immediate. Tech led. By midday, the Nasdaq Composite was up about 1.1%, while the S&P 500 gained roughly 0.6%. The Dow was […] More
AI Safety Concerns Are Back, and They’re Landing on a Market With No Room Left to Absorb Them AI safety concerns resurfaced Tuesday morning after a leaked Anthropic IPO prospectus and a scrapped next-generation OpenAI model both hit the wires within hours of each other. The Dow slipped 0.1%. The S&P 500 sat almost dead […] More
Trump Rejected Iran’s Ceasefire Offer. Oil Is Back Near $110, and Stocks Just Gave Back Friday’s Gains. The Iran ceasefire rejected late Friday is now the dominant story on Wall Street, and Monday’s open made the cost plain. President Trump turned down Tehran’s seven-day ceasefire proposal. The Wall Street Journal reported he has told aides […] More
Oil Prices Ease. Tech Rallies. The Bond Market Isn’t Ready to Call It a Week Yet. Oil prices ease Friday morning, down over 2%, and tech stocks took the relief as an invitation. Nasdaq futures climbed. The QQQ Trust led major benchmarks, up roughly half a percent premarket. Micron and other AI-adjacent names built on […] More
The Treasury Yield Just Hit a 2007 High. The Economy’s Too Strong for Its Own Good. The Treasury yield hits its highest level since 2007 Wednesday, the 10-year surging past 5.12%, up more than 15 basis points on the day. The catalyst wasn’t bad news. It was the opposite. September business activity data showed the […] More
Reports the Strait of Hormuz Reopens Send Oil Sliding. Banks Didn’t Get the Relief. The Strait of Hormuz reopens within seven days, according to reports Tuesday citing an Iranian offer, unverified but market-moving all the same. Oil fell for a fifth straight session, Brent briefly dipping below $98 before recovering toward $100. Saudi Arabia is […] More
The Nasdaq Just Hit a Record High. The Dow Didn’t Get the Memo. The Nasdaq record high arrived Tuesday, a fresh all-time intraday peak near 27,219, powered by falling oil prices and another leg up in AI and semiconductor names. The S&P 500 sat within a whisper of its own record. The Russell 2000 gained […] More
The Fed Hikes Rates for the First Time Since 2023. Warsh Isn’t Done Yet. The Fed hikes rates by 25 basis points Wednesday, lifting the benchmark range to 3.75% to 4%. First increase in more than three years. Unanimous vote, 12-0, from a committee that had three members already favoring a hike back in July. […] More