The Bespoke Report — Market Doesn’t Fold

The big headline around financial circles this week was the fact that after facing resistance from a minority of politicians and public figures, Amazon decided to pull the plug on its planned expansion into New York City.  Whatever your individual views towards the deal, the fact is that most people … [Read More...]

Jobless Claims: Mic Drop

We’ve said it countless times over the last several years, and today we’re forced to say it again regarding jobless claims.  Wow!  This week’s report on first time claims not only came in lower than expected, but it also dropped below 200K to 1999K.  Not since November 1969 … [Read More...]

Two Rally Laggards: Tobacco and Tech Hardware

While just about every market group has seen a significant rebound off the Christmas Eve lows, two notable laggards have been Tobacco and Tech Hardware.  These are two groups that you don’t normally associate with each other, but both have been profoundly weak over the course of the last … [Read More...]

Bulls Bailed Out Into the Close

After a great three-week run, US equities kicked off the week on a disappointing note Tuesday.  After just barely closing above the 50-day moving average (DMA) last week, bulls were hoping the next milestone for the rally off the Christmas Eve lows would be the downtrend line from the … [Read More...]

Morning Lineup – Rally Drivers

After a nice rally in reaction to earnings reports from the major banks, the Financials sector is taking a breather today after Morgan Stanley earnings disappointed the street.  In economic news, both Jobless Claims (213K vs 220K) and Philly Fed (17.0 vs 10.0) came in better than expected.  Read… [Read More...]

Philly Fed Rebounds

After two straight months of weaker than expected readings and three straight months of declines, the Philadelphia Fed Manufacturing Survey for January came in stronger than expected and increased on a month/month basis. While economists were collectively expecting the headline report to come in at 9.5, the actual reading was 17.0.  … [Read More...]

Morning Lineup – Rally Keeps Rolling

Despite denials from the Administration, US (and global) equities continue to rally this morning on optimism regarding a lifting of tariffs on Chinese imports.  Read today’s Bespoke Morning Lineup below for major macro and stock-specific news events, updated market internals, and commentary. Bespoke Morning Lineup – 1/18/19 While the… [Read More...]

Morning Lineup – Manic Breadth

Futures are indicated a bit lower this morning after five straight days of gains.  The only economic indicator on the calendar today was CPI for December which came in right inline with expectations at both the headline (-0.1%) and core levels (0.2%).  Read today’s Bespoke Morning Lineup… [Read More...]