Today’s stock market rout was led by the Magnificent-7. The Roundhill Magnificent Seven ETF (MAGS) was down 6.1% today, and down 8.3% since the S&P 500 peaked at a record high during July 16 (chart). The S&P 500 is

The DJIA is down 2.1% from its record high of 41,198 reached last Wednesday (chart). The DJTA was down 1.6% today, remaining below its record high in early 2022. According to Dow Theory, the DJTA needs to break out

Yesterday, we suggested that the stock market selloff since the July 16 record high in the S&P 500 might not last very long. So we were pleased by today’s broad rally in the S&P 500 (1.1%), the Nasdaq (1.6%), the Russell 2000 (1.7%),

The S&P 500 is down 2.9% from its record high of 5667.20 on Tuesday, July 16. The following day semiconductor stocks got whacked on news that the Biden administration is considering draconian measures to clamp down on foreign companies

  The week ahead is jampacked with key economic indicators, including the first read on Q2’s real GDP and June’s PCED inflation rate. We’re expecting robust economic growth and further progress toward the Fed’s 2.0% inflation target. The latest

The bull market in stocks has been quite volatile in recent days as it rotates and broadens. The triggering event was a better-than-expected June CPI report on Thursday, July 11. Since then, the financial markets priced in a 100%

We’ve been predicting a broadening stock market meltup in the event that the Fed starts cutting the federal funds rate (FFR) as inflation moderates while economic growth remains solid. Last week’s CPI and today’s retail sales report confirm that’s

China just loaned two young pandas to the San Diego Zoo. In the past, such Panda Diplomacy suggested that relations between the US and China might be improving. It’s hard to come to that conclusion currently since both US

We’ve previously written that our number-one concern for the stock market is unsettling domestic and global political turmoil. The attempt to assassinate former President Donald Trump on Saturday heightened anxiety about political violence at home as the November elections

  The economic week ahead will include updates on industrial production and business sales of goods as well as retail sales. The upshot is likely to be another all-time high for June’s Index of Coincident Indicators (Thu), as confirmed by

This morning, we weren’t surprised by June’s lower-than-expected CPI report. It does increase the odds of a cut in the federal funds rate (FFR) in September. That supports our expectations for the stock market rally to continue and to broaden out from the MegaCap-7

We are raising our year-end target for the S&P 500 to 5800 from 5400. We are still targeting 8000 by the end of the decade. The stock market seems to be discounting our Roaring 2020s scenario faster than we

Bank stocks popped today after Reuters reported that the Fed is considering relaxing a regulation, i.e., the GSIB Surcharge. It requires big banks to hold additional capital due to the systemic risk they pose to the global financial system. Tweaking the

The strength of the US consumer has underpinned much of the current bull market in stocks. In recent months, rising real disposable personal income (DPI) has fueled consumer spending even as the excess saving accumulated during the pandemic was

The stock market’s bull run since October 12, 2022 has started to raise some concerns. According to the naysayers, earnings growth expectations are too high because there are mounting signs of an economic slowdown. The breadth of the stock market rally continues to narrow, which may mean that