tsptalk's Market Talk

[tsptalk]

Stocks are mixed and choppy this morning before this afternoon's Fed meeting and interest rate decision. Small caps are leading despite yields moving up, and the dollar is rising again potentially leading the I-fund to its 5th straight loss.

The dollar has been gapping up daily since the EU trade deal was announced, but here it is again at the 200-day average, and average that has proven to be stubborn.



The I-fund has fallen below 2 or 3 support areas and the 50-day EMA is looming near 60. It may all depend on whether the dollar stalls at that average or not.

Gold is down, oil and bitcoin are flat.

Microsoft and META report earnings after the closing bell today, and Apple and Amazon report after the close tomorrow.

We will get the July jobs report on Friday morning.

 

[tsptalk]

Microsoft and META are flying higher after hours.

 

[tsptalk]

The early action is dominated by the huge gains in Meta and Microsoft. The broader and smaller indices are not acting as well, but are holding up after a negative open. For example the Russell 2000 was up 0.01% last checked, and the NYSE is up just 0.5%.

But the S&P 500 (+0.80%) and Nasdaq (+1.27%) are up nicely and making new highs.

Yields are down despite a warm PCE Prices report, but that is helping the F-fund's BND to an early gain.

The dollar gapped up yet again and that has the I-fund's ACWX down about 0.40% in this very early trading.




Gold is up slightly, oil down slightly, and bitcoin is currently back over 118K.

 

[tsptalk]

It's uncanny. Every time I travel the market goes crazy.

How long did we go without a 1% day?

Sorry folks. This sell off is my fault.

Oh, wait. It's August 1st. This was suppose to happen.

 

[tsptalk]

The weaker than expected jobs report and the new tariffs are giving the market some fits, but it's right on cue (see prior post.)

Stocks are pulling back. Yields and the dollar are falling.






Gold is up sharply, oil is down sharply, and the cryptos are down.

Have a great weekend everybody!