 The Stock Index Report - Bulls come out on top...
Carley Garner I Alaron Research - 30 July 2010
The stock rally is in jeopardy but the bulls aren't giving up easily. Despite bearish seasonals and a string of questionable economic data, the equity meltdown that some were looking for hasn't materialized.
Friday was a finicky session. Stock index futures dropped sharply on news of a slightly worse than expected GDP rate of 2.4%. It seems to have been the "sticker shock" of the drop from 3.7% to the current rate that sent some into panic mode. ... read more the bond report - Bonds Up, Eyes on Non-Farm on Friday
Carley Garner I Alaron Research - 02 October 2007
Bond futures made progress on the heels of weak news out of the housing market; August pending home sales dropped another 6.5%. The July number was revised to a negative 10.7%, painting an ugly picture in real estate. Although the news was somewhat expected, it is a bit ... read more the bond report - Bonds Tumble as Longs Lock in Profits
Carley Garner I Alaron Research - 13 September 2007
Treasuries dropped somewhat unexpectedly ahead of the FOMC’s interest rate decision. While I have been calling for a correction, I was convinced that the market would pause until after Tuesday’s events. Obviously I was a bit off the mark in terms of timing, but the direction was ... read more nasdaq I dow report - Stocks Run on Thin Volume
Carley Garner I Alaron Research - 13 September 2007
New record highs in the oil pit still haven’t translated into weaker equity trade. The market continues to be “excited” by the thought of a Fed rate ease. I just hope that the market hasn’t set itself up for disappointment. With expectations so high, it will be hard for the Fed to ... read more the bond report - Bond Bulls Refuse to Give Up
Carley Garner I Alaron Research - 21 August 2007
The long bond continues to relentlessly climb, but continues to struggle in the high 110’s. 111 is acting as a ceiling for prices and without new information coming to the marketplace, the 30 year may not be able to post gains beyond resistance this time around.
Yesterday I recommended buying ... read more the bond report - Bogged Bonds Come Back
Carley Garner I Alaron Research - 13 August 2007
Bond prices spent much of the morning being bogged down by selling pressure triggered from what seemed to be stability in equities. Not only did Wall Street managed a rally, but the major indices held most of the day’s gains and seemed to have considerably less intra-day volatility than what we ... read more the bond report - Stocks Swing, but Bond Traders are on Hold
Carley Garner I Alaron Research - 10 August 2007
A volatile stock market has allowed bonds to maintain a healthy bid, but the buying hasn’t been overbearing as of late. It is almost as if bond traders are sick and tire of the stock market head fakes. Instead, Treasury traders are avoiding gut reactions and awaiting something a ... read more nasdaq I dow report - Raining Volatility
Carley Garner I Alaron Research - 10 August 2007
Action taken by the Fed to ease credit concerns and liquidity in the market place may have caused more harm than good in terms of the equity markets are concerned, at least in the near term. As time goes on, the Fed’s shot of liquidity into the domestic financial system will likely prove to be the ... read more the bond report - Trashed Treasuries
Carley Garner I Alaron Research - 08 August 2007
The bond correction that we have all been looking for has finally become a reality, but before you jump on the bear bandwagon you must weigh all of the evidence. Today’s move lower has simply deducted most of the flight to quality bid stemming from the beginning stages of the stock market plunge, it ... read more the bond report - Bonds Struggle to Stay Afloat
Carley Garner I Alaron Research - 17 July 2007
A gain in core PPI data overshadowed an unexpected drop in the headline number. Bond traders sold on the news allowing light volume to eventually lead prices as low as 107’02, nearly a full handle from the day’s highs. Despite a mid-session attempt to go positive, the long bond settled ... read more nasdaq I dow report - Dow Futures on Track for 13,800
Carley Garner I Alaron Research - 09 July 2007
The Dow seems destined for 13,800; a lack of volume and a lack of news may help the index reach its goal within the next few trading days. According to sources on the CME floor next to the S&P, there were only 30 locals standing in the pit. Much of the order flow was local to local with very little retail ... read more the bond report - Lingering Yields are Enticing a Bid
Carley Garner I Alaron Research - 09 July 2007
Treasuries have essentially been trading sideways over the last few weeks despite a few large ranging trading days. I remain bullish in the long bond, but worry that a digestive move to 105’12 is possible. If you sold puts in the beginning of June as I recommended I hope that you have bought ... read more the bond report - Quarter End Trade Benefits Bonds
Carley Garner I Alaron Research - 29 June 2007
Bond traders enjoyed a healthy bid higher on the day. Some of the strength may be at the hand of end of the quarter position squaring. Those fund managers that were short were likely sitting on padded accounts and eager to lock in their numbers for the quarter. ... read more nasdaq I dow report - Unchanged, but not Un-exciting
Carley Garner I Alaron Research - 29 June 2007
Encouraging economic news early sent stocks soaring, but end of the quarter position squaring was too much for the market to take. Mutual funds, hedge funds, etc. were all anxious to lock in there progress and they did. Our sources on the floor nailed this one, they were calling for higher markets ... read more the bond report - Bonds Offered, but Selling Contained
Carley Garner I Alaron Research - 28 June 2007
Yesterday’s trade went from impressively bid, to nearly unchanged on the day. Today’s market saw much of the same directionless trade. Unsure of the reaction of the mid-day FOMC announcement, position squaring took precedence. Of course, coming into the day the Fed was expected to tip-toe ... read more the bond report - Bonds Struggle on Strong Data
Carley Garner I Alaron Research - 21 June 2007
The market was finally given some economic data to chew on, but it wasn’t enough to fend off the Treasury bears. Bond prices lagged early in the day, and didn’t see daylight throughout the remainder of the session.
Initial jobless claims rose 10,000 last week to 324,000. While
... read more nasdaq I dow report - Roller Coaster Day, but the Bulls Keep the Edge
Carley Garner I Alaron Research - 21 June 2007
To say that it was an eventful trading day would be misleading. Today’s session contained some of the largest and fastest intraday moves that we have seen all year. The span between the high and low of the Dow was 171 points; the swings in-between these two prints were even wilder. Trade was very fast ... read more the bond report - Quietly Higher
Carley Garner I Alaron Research - 15 June 2007
The bond market was modestly lower in the overnight market, but following this morning’s inflation data Treasury prices perked up. The Core CPI was expected to have ticked higher by .2%, but the headline number came in a little stronger than expected. The May Consumer Price Index printed at . ... read more nasdaq I dow report - Rolling, rolling, rolling...
Carley Garner I Alaron Research - 15 June 2007
U.S. stock indices approached annual, and in many cases, record highs on the session. A tamer core inflation number than many had expected sparked traders to become offensive rather than defensive for the third day in a row.
The Consumer Price Index showed that ... read more the bond report - Bloody Bonds!
Carley Garner I Alaron Research - 12 June 2007
It was another blood bath in the bond pit. As predicted in yesterday’s report, the market seems determined to retest the lows forged last week. The long bond will finally reach significant support near 105, and the 10 year note should slow down near 104. In both instances, we would be hovering ... read more the bond report - Bond meltdown
Carley Garner I Alaron Research - 07 June 2007
In mid-May we were calling for an increase in volatility and recommended to buy option straddles accordingly. However, even we didn’t expect this. This type of volatility only comes around once in a great while. It can be fun if you are on the right side of the move, but for those caught in the ... read more the bond report - To Bid or not to Bid...
Carley Garner I Alaron Research - 06 June 2007
Near the end of the day the Treasury market found itself slightly bid, but the lackluster bounce was little to celebrate if you are a bond bull. Bonds have successfully crept lower to attain the highest yields seen in 2007 and have yet to find buyers. Apparently the stock market has ... read more nasdaq I dow report - The beginning, or the end?
Carley Garner I Alaron Research - 06 June 2007
What began yesterday as a breather, turned into something a little more on Wednesday. U.S. equities tumbled throughout the day, and the typical late afternoon buying spree failed to materialize. Analysts are blaming higher interest rates and inflation concerns, but let’s face it this market ... read more the bond report - Moderate Recovery
Carley Garner I Alaron Research - 04 June 2007
Bonds forged a moderate recovery on the Monday following a miserable trading day on Friday. Today was eventless, which seems to be friendly news to the bond market. Given the string of pro economy numbers, no news is good news. The one and only report out during today’s trade was the April factory ... read more the bond report - The day's data weighed on bonds
Carley Garner I Alaron Research - 01 June 2007
Event risk was high coming into the day, leaving traders highly sensitive in early morning trade. An initial move lower on the payrolls data, was followed by a temporary bid on the heels of the personal income data, but it was the bears that were holding the reigns at the end of the day. ... read more Job growth and manufacturing expansion keeps the bulls in charge
Carley Garner I Alaron Research - 01 June 2007
Strong job growth and positive news from the manufacturing sector led stocks higher once again. Yesterday was the first day since 1999 that the Dow and the S&P set price records in the same day. Today’s positive momentum wasn’t much of a surprise given that it was the first day of the ... read more the bond report - Weak GDP and Weak Bonds
Carley Garner I Alaron Research - 31 May 2007
A weak GDP reading wasn’t enough to cure the bonds of weak trading. In fact, this was the weakest GDP revision since the fourth quarter of 2002 but traders didn’t seem to notice. There were significant declines in net exports and inventories which overshadowed improvements in personal ... read more Bulls are confident, bears are looking to tomorrow's numbers
Carley Garner I Alaron Research - 31 May 2007
Stock traders apparently feel confident in their reaction to yesterday’s news. We didn’t see the “buyer’s remorse” trade that we have become familiar with as of late. It is highly likely that investors are refraining from making a move until tomorrow’s data is released. ... read more the bond report - Slightly bid, but a lot of news ahead
Carley Garner I Alaron Research - 30 May 2007
Treasuries traded heavily in green territory following an overnight slide in global equities. However, the U.S. stock trading session managed to forge a comeback which in turn leaked some of the gains out of bonds. By the close of the day session, bonds across the curve were clawing to stay above unchanged. ... read more the bond report - Boring day, but trade should pick up later in the week
Carley Garner I Alaron Research - 29 May 2007
A better than expected Consumer Confidence reading left the bond market without traction for the remainder of the day. By the close of the open outcry session, bonds had slipped as low as 109’ 01 (109’00 in the electronic session). Although still managing to hold support, the upside ... read more the bond report - Treasury Spiral
Carley Garner I Alaron Research - 23 May 2007
The bond market continued its downward spiral on Wednesday. With the recent plunge, it is highly likely that the market will be searching for stops beneath 109 in the long bond. As you know, 109 has acted as significant support in the past several trading months, penetration of this level will ... read more nasdaq I dow report - M&A keeping stocks elevated
Carley Garner I Alaron Research - 23 May 2007
Equity indices forged new intraday records…but that headline is getting a bit old. Day in and day out, it is the same thing. I wake up in the morning and quickly turn on the TV to Bloomberg news to see what the market is doing. Fresh merger and acquisition news has typically been released at some point ... read more the bond report - Treasuries losing composure
Carley Garner I Alaron Research - 22 May 2007
Treasuries added to the losses on Tuesday on light volume and light news. Other than chatter from Richmond Fed President Lacker, traders had very little to guide their positions. One floor trader used the word “stuck” to describe early morning trade. Lacker, who was the sole dissent in 4 FOMC ... read more the bond report - Treasuries benefit from short covering
Carley Garner I Alaron Research - 21 May 2007
Treasuries made their way into positive territory following a dreary open, but there didn’t seem to be a dominant direction. Some were looking for an oversold bounce, but the lack of momentum suggests that there may be some rooms for this market to move on the downside before higher yields lure the bargain hunters. ... read more the bond report - Bond selling is trendy
Carley Garner I Alaron Research - 18 May 2007
The long bond treaded water throughout the session, but afternoon sellers managed to force yields to some of the highest levels seen this year. Support at 110 for the June 30 year was broken, leaving 109 the next likely pit stop. Many traders were expecting today to be relatively quiet, but reality didn’t ... read more nasadq I dow report - Bouncing Bulls
Carley Garner I Alaron Research - 18 May 2007
The May expiration tends to be positive for the market, and today was no exception. If you are a bull at current levels, you will be excited to know that the Monday succeeding May expiration is also statistically bullish. If you are a bear (with a position on) you are likely pulling ... read more the bond report - Bond remain under the radar...and under pressure
Carley Garner I Alaron Research - 16 May 2007
Bonds have been quietly staying under the radar, while equities have demanded the spotlight. The morning’s run of data was relatively short lived, leaving the market to churn in place for the remainder of the session.
Bonds traded better ahead of the data on anticipation of weak
... read more nasdaq I dwo report - Smart money moves the market...
Carley Garner I Alaron Research - 16 May 2007
“Smart Money” disclosures gave investors a boost on Wednesday. Warren Buffet, George Soros and Eddie Lampert are known to have significant holdings in several large-cap issues such as Microsoft and Johnson and Johnson. The news managed to calm the nerves of many investors, and added to the positive momentum despite massively overbought markets. ... read more the bond report - Bonds extend the losing streak
Carley Garner I Alaron Research - 14 May 2007
The long bond extended its losing streak on Monday, but the downside (along with the upside) momentum seems to be lacking. Global bonds were generally weaker on the session, and seemed to weigh down the domestic market. The volatility is incredibly low and the volume has been on the ... read more nasdaq I dow report - What a difference a day makes
Carley Garner I Alaron Research - 12 May 2007
Wall Street flipped positions this morning post PPI data. The market seems to be under the impression that the mild inflation news will prompt the Fed to begin cutting rates at the end of the year. October and December rate cuts have been priced into the short end of the Treasury market and seem to ... read more the bond report - Bonds lower, but holding support
Carley Garner I Alaron Research - 12 May 2007
The Treasury market continues to struggle, but has managed to keep prices within the current trading range. 111’11 has been the magic number, and seems to be the “sweet spot” in the long bond. Slightly weak retail sales, and tame inflation data helped to get bonds off to a good start ... read more the nasdaq I dow report - Equities moderately lower
Carley Garner I Alaron Research - 08 May 2007
It was a down day for stocks, but the bears were likely a little disappointed in the day’s action. An early morning slide, quickly turned into an equity recovery. Reliable sources on the floor, mentioned that much of the selling came from day trading sell signals, and stop running. Apparently, ... read more the bond report - Early bid fizzles ahead of FOMC
Carley Garner I Alaron Research - 08 May 2007
Surprisingly, the bond market began the day with a healthy bid. Ahead of an FOMC meeting, it is more typical to see less directional trade. However, as the day progressed the bond market regressed to finish near unchanged. Technical resistance and supply concerns combined with light volume ... read more Boring Bonds may bring excitement later in the week
Carley Garner I Alaron Research - 07 May 2007
It was another uneventful day in the bond pit, and tomorrow is expected to much of the same. The London financial markets were closed for the day, by default, and along with the fact that there is a mid-week FOMC meeting, liquidity in the U.S. was questionable. Being exposed to the markets this week ... read more the bond report - Bond Found Ceiling Ahead of Non-Farm Payrolls
Carley Garner I Alaron Research - 03 May 2007
The fixed income market seems to have found a temporary ceiling. The June long bond futures contract has barely poked above 112, let alone managing a close within its vicinity. Traders are impatiently waiting for tomorrow’s employment report. The market was easily excited by this morning’s weekly ... read more the bond report - Good Footing Early Leads to Impressive Gains
Carley Garner I Alaron Research - 30 April 2007
The Treasury complex got off to a good start this morning, and seemed to gain momentum throughout the morning session. A holiday in Japan, Golden week, has resulted in lightened trade; while “May Day” will be celebrated in many foreign markets tomorrow. Thus, it is up to the U.S. markets to set the trend for trade. ... read more nasdaq I dow report - Sluggish Stocks on Light Volume
Carley Garner I Alaron Research - 30 April 2007
Despite a basket full of economic data, the equity markets were unwilling to change valuations. The Dow demonstrated some strength, but the market as a whole was mixed at best for most of the session, while the tech sector underperformed on the day. The market seems to be understandably ... read more nasdaq I dow report - GDP had to Offer Stock Traders
Carley Garner I Alaron Research - 27 April 2007
This morning’s GDP report had little positive news for the stock market. The headline number was weaker than expected and the inflation reading was a little too hot for comfort. Surprisingly, the market didn’t completely fall out of bed. The news could have easily triggered a 100 point ... read more the bond report - Weaker growth and an Up Tick in Inflation
Carley Garner I Alaron Research - 27 April 2007
The day’s action focused on an early morning GDP report. Overall, the numbers reflected weakness in the economy with signs of inflation. Bond traders were unsure of which direction the news should guide prices. Initially, Treasuries rallied on the news but once clearer minds prevailed ... read more the bond report -Treasuries Decline as Stocks Scratch Their Way to Higher Ground
Carley Garner I Alaron Research - 26 April 2007
Treasuries made their way lower as the stock market crept higher. Overseas selling pressure leaked into domestic markets, and yesterday’s failure to extend gains didn’t help. The weekly jobless claims report was a non-event, which is typically the case. The help-wanted advertising index isn’t ... read more nasdaq I dow report - Stocks Settle Impressively Mixed
Carley Garner I Alaron Research - 24 April 2007
Stocks continued their march upward in the face of questionable economic data. Disappointing numbers out of the housing market garnered a quick sell off. That is exactly what it ended up being, ”quick”. Once the kneed jerk reaction was out of the way, equities edged higher for much of the day. ... read more the bond report - Bond Friendly News Supports Treasuries
Carley Garner I Alaron Research - 24 April 2007
Bond prices were supported by less than impressive news on the economic front, namely a plunge in housing prices. The move however, lacked enthusiasm suggesting that it may just be short covering as a continuation of the correction from oversold market conditions. ... read more the bond report - Don't be fooled, the upside may not be over
Carley Garner I Alaron Research - 19 April 2007
Bonds were well bid in early trade, but lost ground as the day continued. A worse than expected jobless claims number helped prop the market up, but enthusiasm was lacking. The rally seemed to be under pressure from technical sellers, while fundamental buyers didn’t find the news to be “bad” enough. ... read more nasdaq I dow report - Rocky but positive earnings season
Carley Garner I Alaron Research - 19 April 2007
An overnight equity sell-off spent the entire session regaining ground, to close the day with the major indices mixed. Corporate America laid the earnings reports on heavy today, creating a tug of war between the bulls and bears. According to the Conference Board, its index of leading economic ... read more the bond report - Change of heart?
Carley Garner I Alaron Research - 18 April 2007
The Treasury market seems to have had a temporary change of heart. We have been waiting for the up swing to give us an opportunity to get short the long bond. However, I don’t think the corrective move is over. I am looking for a price in the mid 112’s before looking to “get short” this market. ... read more the bond report - An uptick in the PPI index weighed on Treasuries
Carley Garner I Alaron Research - 13 April 2007
The Treasury market suffered somewhat moderate losses on the day following a PPI report that was slightly above expectations. The PPI rose 1% in March, but the core component was flat. Energy costs were up 3.6% while food prices were up 1.4%. There doesn’t seem to be much of a carry over into ... read more nasdaq I dow report - Runaway stocks?
Carley Garner I Alaron Research - 13 April 2007
Friday the 13th turned out to be a positive day…for those long the equity markets anyway. After one day correction on Wednesday, the Dow has swiftly recovered lost ground. This just goes to show how fickle this market is. Am I the only one that remembers the doom and gloom in March? ... read more the bond report - Uninspired
Carley Garner I Alaron Research - 12 April 2007
Treasuries remain uninspired. The daily ranges have been tight and the volume has been light. The day’s action has been similar to that seen in the previous sessions. An early morning bid slowly fizzles throughout the day. Trade is looking forward to tomorrow’s PPI report. Speculators are ... read more nasdaq I dow report - Stocks settled higher, despite fundamental weights
Carley Garner I Alaron Research - 12 April 2007
Stocks ended the day on a positive note, despite yesterday’s slide and this morning’s continuation of the bloodbath. Higher oil prices and uncertainty regarding the stability of retail sales weren’t an issue for investors. Many retailers are warning of light ... read more the bond report - Slumping in light volume
Carley Garner I Alaron Research - 05 April 2007
Despite being technically oversold, the bond market is having difficulty positing gains. It seems that the long bond is destined for 110’25. Perhaps on tomorrow’s number (and abbreviated trading session).Bond futures will be open throughout the night, but the official day session will be a very ... read more nasdaq I dow report - Stocks higher, but volume was thin
Carley Garner I Alaron Research - 05 April 2007
Traders edged the major stock indices higher in pre-holiday trade. According to sources in the S&P pit, there were far below average number of locals in the trading pits and stop hunting seemed to dominate trade. Others were buying equities in optimistic anticipation of tomorrow’s employment ... read more the bond report - Treasuries positive, but marginal
Carley Garner I Alaron Research - 04 April 2007
Treasuries managed a positive close, but it was the gains were marginal at best. According to sources on the floor, the market was finding some buyers near levels not seen since the beginning of March. However, it was also noted that volume is spotty at times but non-existent for the most ... read more nasdaq I dow report - Quiet trade ahead of Good Friday
Carley Garner I Alaron Research - 04 April 2007
It was a relatively peaceful trading day. There were a few economic releases, but the market had little to no reaction. Even news of the British soldiers being released didn’t excite investors. The Institute for Supply Management reported that the U.S. service economy expanded at a slower ... read more the bond report - Wide ranging, but directionless
Carley Garner I Alaron Research - 28 March 2007
Bond trade was unable to hold an early morning bid, but also failed to make any progress on the downside. After a choppy day, the Treasury complex ended the day quietly lower. Analysts were expecting a strong durable goods number for February and the number nearly delivered. Last month durable goods ... read more nasdaq I dow report - Struggling equities, but liquidity and multiples side with
Carley Garner I Alaron Research - 28 March 2007
Stocks struggled following a less than stellar durable goods number and a somewhat confusing banter by Ben Bernanke. The Fed chair was eager to re-emphasize inflationary concerns, seemingly in an attempt to “undo” some of the commotion caused last week on comments made by the central bank. ... read more the bond report - Bonds struggle to find footing
Carley Garner I Alaron Research - 27 March 2007
Treasuries struggle to find footing amidst a stable stock market, and a lack of economic news. The only news to speak of was the March consumer confidence. Analysts were expecting a drop in the index following four monthly gains leaving the figure above its 5 year high. The March consumer ... read more nasdaq I dwo report - Market takes a break
Carley Garner I Alaron Research - 27 March 2007
Yesterday’s impressive comeback turned out to be a “one-day wonder”. The market spent most of today’s session reestablishing deterred losses from Monday’s trade, and held near the daily lows for a majority of the time. This doesn’t necessarily mean that the move higher is over, it just signals a tire ... read more nasdaq I dow report - Negative market but positive sentiment
Carley Garner I Alaron Research - 26 March 2007
It is amazing how much market sentiment has changed from the late February drop to now. The gloom and doom psychology that started the month, is nowhere to be found. The market dropped sharply following this morning’s housing data, but recovered much of the losses and failed to get the sweeping ... read more the bond report - Moderate gains with room to move on the upside
Carley Garner I Alaron Research - 26 March 2007
Bonds were trading softer on the open, but new information in the housing market reverted sentiment quickly. After reaching a low of 111’18, the long bond worked its way well above 112. As mentioned in Friday’s Bond Report, the market seems to be trading in a flag pattern, and ... read more the bond report - Bonds offered in quiet trade
Carley Garner I Alaron Research - 23 March 2007
Bonds continue to slide despite early morning support. Trade remains very heavy in light of the stock market recovery and a string of positive economic news and corporate earnings. As usual, it looks like the Treasury market priced in the worst and ended up with an economy that “isn’t so bad after all”. ... read more nasdaq I dow report - Uneventful, but a nice change
Carley Garner I Alaron Research - 23 March 2007
It was an uneventful day for stock traders, but that seems to be a blessing following some of the most volatile trade seen in years. Floor brokers, locals, and investors are tired. Not surprisingly, the conglomerate of these three components, the market is also tired. ... read more the bond report - Bonds break down under pressure
Carley Garner I Alaron Research - 22 March 2007
A stronger than expected weekly jobless report, put early pressure on Treasuries and the bearish sentiment persisted throughout the session. It is almost as if bond traders finally realized what had happened yesterday in terms of the FOMC decision. ... read more the bond report - FOMC lifts bonds from the trenches
Carley Garner I Alaron Research - 22 March 2007
There are as many interpretations of today’s FOMC announcement as there are stocks listed on the NYSE, but that is what keeps us so intrigued with the markets. After spending a large majority of the day well into negative territory, bonds rallied on the FOMC announcement to end the day near 113. ... read more nasdaq I dow report - Stocks run...'exuberantly'?
Carley Garner I Alaron Research - 22 March 2007
Stocks rallied sharply on the heels of the FOMC’s decision to hold tight on interest rate policy, but it wasn’t the lack of action that had the market cheering. Wall Street excitedly bid stocks higher on the Fed’s insinuation that they will hold a bias toward rate cuts going forward. Apparently, ... read more nasdaq I dow report - Stocks run ahead of FOMC
Carley Garner I Alaron Research - 20 March 2007
Stocks moved impressively higher in light of tomorrow’s FOMC interest rate decision. Most were expecting the market to pause in anticipation. Shaky housing data throughout the past few months, has put a lot of attention on the Fed’s expectations of real estate and what the implications may be for ... read more the bond report - Still waiting for the Fed...
Carley Garner I Alaron Research - 20 March 2007
The markets had little to trade on today, but there was a lot of speculation on what tomorrow’s interest rate decision might bring to trade.
Housing starts rebounded 9% last month to 1.525 million. If you remember, the number plunged 14% last month to shake the financial markets. Volatility in ... read more the bond report - Bond traders await Fed
Carley Garner I Alaron Research - 19 March 2007
The Treasury market began the week offered as global equities enjoyed significant gains on the day. A continuation of stock market strength should result in a bond market squeeze, causing long traders to liquidate.
The selling pressure was somewhat muted by the uncertainty of tomorrow’s FOMC ... read more nasdaq I dow report - Stocks scream higher ahead of FOMC
Carley Garner I Alaron Research - 19 March 2007
Higher global equities boosted domestic stock indices following Friday’s quadruple witching. Statistically, (according to the Stock Trader’s Almanac) Thursday and Friday should have been positive days for the Dow and S&P, and Monday should have belonged to the bears. As we have all come to ... read more nasdaq I dow report - Lower, but contained selling(1)
Carley Garner I Alaron Research - 16 March 2007
Despite trading lower for much of the day, the equity markets kept their composure in the face of higher inflation readings. The lack of follow through selling was a relief, but seemed almost too good to be true. With the day’s quadruple witch, it is hard to say what type of effect ... read more the bond report - Lifeless Treasuries
Carley Garner I Alaron Research - 16 March 2007
The Treasury market seems content at current levels. There was very little downward momentum despite this morning’s semi-hot CPI number. In other words, bonds continue to defy gravity in the face of inflation. This month’s CPI index showed an increase in .4%, with the core component ... read more the bond report - Bond traders are waiting for tomorrow's CPI
Carley Garner I Alaron Research - 15 March 2007
Bond traders had a hard time saying awake for today’s session. Despite a hot PPI number released in early trade, there was little action to speak of. Perhaps the numbers seemed a little too out of line to be relied upon. The market seems to be waiting for the CPI report due Friday morning for ... read more nasdaq I dow report - Equities remain jittery, but manage to hold composure
Carley Garner I Alaron Research - 15 March 2007
The equity markets remain jittery but were able to remain relatively stable throughout the day. An early morning scare following a hot PPI number lead to a steady inflow of bargain hunting. Helping stock prices today, and throughout the past year or so, there were fresh signs of merger and ... read more nasdaq I dow report - Volatility reigns
Carley Garner I Alaron Research - 15 March 2007
Market volatility remains painfully high, in what analysts are referring to as a technically driven meltdown. More news in the sub prime lending sector, this time from H&R Block, led stocks violently lower in early trade. The March Dow dropped significantly below ... read more the bond report - Bond buyers becoming scarce
Carley Garner I Alaron Research - 14 March 2007
Bonds were surprisingly weak in the midst of an early morning equity plunge. While the June Dow was down approximately 150 points, June bond futures were up a mere handful of tics. In fact, a swift reversal in the equity market led to a hasty sell-off in bonds. As stated in yesterday’s ... read more the bond report - Spiraling stocks spark bond rally
Carley Garner I Alaron Research - 13 March 2007
Lower global equities, a weak retail sales figure and ongoing concern over sub-prime lending resulted in jittery trade on Wall Street. Ok, ok, jittery is an understatement. The Dow closed down over 200 points, and the bond market benefited. The June bond crept higher, to the mid 113’s. ... read more the bond report - Bonds recover nicely from Friday's lows
Carley Garner I Alaron Research - 12 March 2007
Bond trade recovered nicely from Friday’s low, leaving the bears disappointed by the lack of follow through selling. Much of the early morning strength is said to be the result of continued concern over sub-prime lending. Many economists were expecting a “fall out” in the lending ... read more nasdaq I dow report - Quietly higher...
Carley Garner I Alaron Research - 12 March 2007
Stock investors remain unsure of whether or not they are comfortable with the risk exposed to stock holders, but the market has been surprisingly stable. Merger and acquisition news continues to act as a broad market crutch, while positive news from tech giant Texas Instruments Inc. worked to ... read more nasdaq I dow report - Quiet equities mean a restful weekend for stock investors
Carley Garner I Alaron Research - 10 March 2007
An unchanged market seems exciting in today’s equity environment. Despite the volatility and spurts of ‘panic selling’ on Monday and Tuesday, the week closed relatively stable.
The market got a boost from a tame employment report, but gave up gains on news on concerns over compiling ... read more the bond report - Bond prices considerably weaker following Non-Farms
Carley Garner I Alaron Research - 09 March 2007
As we had predicted, bonds fell victim to the Non-Farm Payrolls number. Prior to the release, Treasuries had built a surprisingly weak reading into current prices, with consensus estimates so low there really wasn’t much room for a bullish report. The long bond closed the session down nearly a full handle, ... read more the bond report - Slightly bid following Fed Beige Book
Carley Garner I Alaron Research - 07 March 2007
Surprisingly, Treasuries haven’t slide on what can be considered a valid attempt at stability in the equity markets. In theory…bonds should have given back some of the safe haven bid that the market has enjoyed as of late due to the impressive stock recovery. The resiliency of the fixed income ... read more nasdaq I dow report - A relatively sideways day on Wall Street was welcomed
Carley Garner I Alaron Research - 07 March 2007
Wall Street welcomed a sideways trading day following the madness that we have been seeing over the past several trading sessions. In terms of today’s market conditions, the daily range was narrow. The March Dow traded in an 80 point range; a few weeks ago this would have been considered an eventful day. ... read more the bond report - Bond bid fades into close
Carley Garner I Alaron Research - 05 March 2007
Bonds made a less than impressive attempt to retest the spike high set last Tuesday on the stock market plunge. Not only did the market fail to reach the high, 114’02 for the long bond, but it failed to hold any of the day’s gains. In fact, many argue that the session’s action suggests that we ... read more nasdaq I dow report - Stock market slide
Carley Garner I Alaron Research - 02 March 2007
The stock market slid going into the close as investors were reluctant to hold positions going into the weekend. A week of excessive volatility seems to be more than many can take. The major indices spend most of the morning poking in and out of positive territory, but it just wasn’t meant to ... read more the bond report - Safe haven bid
Carley Garner I Alaron Research - 02 March 2007
The bond market benefited directly from additional weakness in the stock market. Staying true to the theme of the week, the equity market experienced an excessive amount of intra-day volatility…this left bond traders unsure of which side to take. One thing is for sure, there is a lot of money ... read more the bond report - Quiet trade despite equity market swings
Carley Garner I Alaron Research - 01 March 2007
The bond rally seems to be running out of steam. Traders understand that in order for bonds to continue their climb in the near-term, the market will need stocks to push lower and the news to be surprisingly weak. The bid in the overnight market failed to hold footing in the day session following a string ... read more the bond report - Treasury buyers take a break
Carley Garner I Alaron Research - 28 February 2007
Treasury traders spent the overnight session eyeing global equities, a lack of continuation of the meltdown allowed bond prices to relax a bit. The economic data released didn’t seem as important as it once did. The fourth quarter GDP was revised lower to 2.2%, although weaker I think that most would ... read more nasdaq I dow report - Dead cat bounce? Or rally?
Carley Garner I Alaron Research - 28 February 2007
Investors were relieved to see a stock market bounce following yesterday’s plunge. Myself, as I am sure many others, got little sleep last night as there was no telling what things would look like in the morning. Positive comments from Ben Bernanke eased the minds of investors, but there seems to ... read more nasdaq I dow report - Dangerous Dow
Carley Garner I Alaron Research - 27 February 2007
Words won’t do justice when it comes to describing today’s move. As a relatively ‘young’ participant in the industry, today was a first for me. In 2001, the last time that we have seen a drop of this magnitude, I was sitting safely in a classroom ‘discussing’ the implications of a market move such as ... read more the bond report - Up, up and away...
Carley Garner I Alaron Research - 27 February 2007
Treasuries took flight in the overnight market on a dramatic move into quality. Excessive weakness in the Asian equity markets created a bond bid that “just wouldn’t quit”. Even with the long bond settling considerably off of the highs, the day’s up-move was impressive. ... read more the bond report - Bidding Bonds
Carley Garner I Alaron Research - 23 February 2007
The bond bid began before the day session opened trade, and continued throughout the day despite a lack of news. There were absolutely no economic reports released, and with the shortened trading week there weren’t a lot of market participants. As a result, I am left with little to talk ... read more nasdaq I dow report - Stocks tumbled to the bottom of the range
Carley Garner I Alaron Research - 23 February 2007
For the second day in a row, stocks tumbled toward the bottom of the trading range. So far, this is seen as healthy action in a bull market. The trend is up, the trading channel is narrow and the market is taking breaths between moves higher. ... read more the bond report - Bonds weaker, but support looming near 110'17
Carley Garner I Alaron Research - 22 February 2007
Bonds continue to trade slightly weaker, but the bears remain contained. There wasn’t much news to speak of; the minor releases of the day failed to get the markets attention. The help wanted index, as calculated by newspapers, fell 2 points to 32 in the month of January. Even so, the index ... read more nasdaq I dow report - A rocky day on Wall Street
Carley Garner I Alaron Research - 22 February 2007
A rocky session on Wall Street led the Dow considerably lower, while the NASDAQ traded near unchanged for much of the day. A positive outlook from chip maker Analog Devices Inc. shed positive light on the tech sector, but investor concern over Iran’s refusal to suspend uranium enrichment weighed on ... read more the bond report - CPI put a cap on the rally
Carley Garner I Alaron Research - 21 February 2007
All eyes were on this morning’s CPI release. The number came in up .2%, slightly above the expectations of a .1% increase. As mentioned in yesterday’s report, we were expecting weakness post release due to the fact that the odds favored market disappointment in the reading. The selling pressure seemed ... read more nasdaq I dow report - Stocks Higher Despite Overbought Conditions
Carley Garner I Alaron Research - 20 February 2007
Stock traders scoffed at the technically overbought market conditions, and pushed the major indices higher on the day. An early morning drop in energy prices lifted the spirit on Wall Street and prompted investors to shrug off declining sales for retail giant Home Depot. ... read more the bond report - Post Holiday Trade Uneventful
Carley Garner I Alaron Research - 20 February 2007
Post President’s Day trade was quiet but bullish. Despite being technically overbought, sellers were snoozing ahead of tomorrow’s CPI report. Many traders note that the number has the potential to move the market substantially. Inflation has been steadily decelerating throughout the later part ... read more the bond report - Treasuries Bid Despite Resistance
Carley Garner I Alaron Research - 16 February 2007
The Treasury complex remained relatively well bid throughout the day, but backed off of the highs as the close of trade approached. Today was a shortened trading session due to the upcoming President’s Day holiday. As a result, the volume was light and trade was highly influenced by position squaring.
... read more nasdaq I dow report - Stocks hold gains on option expiration Friday
Carley Garner I Alaron Research - 16 February 2007
Wall Street managed to keep spirits relatively high despite lagging economic data and profit warnings from tech giant Microsoft. Although the broad market was weaker on the day, the selling was moderate. The day’s pause ended a three-day advance in which the Dow has rallied over 200 points. ... read more nasdaq I dow report - Bernanke Lifts the Market's Spirit
Carley Garner I Alaron Research - 15 February 2007
Federal Reserve Board Chairman, Ben Bernanke testified on Capitol Hill on Thursday, prompting the stock market moderately higher. Modest gains following two days of a full fledged rally is quite an accomplishment. ... read more the bond report - Treasuries Forge New Highs
Carley Garner I Alaron Research - 15 February 2007
Treasuries continue to surprise the bears as yesterday’s strength spilled over into today’s session. The market was leaning higher even before Bernanke took the stand. This shows that the market was content with yesterday’s reaction to the news. Those still short may soon begin nervously liquidating ... read more the bond report - Treasuries Rally on Bernanke Commentary
Carley Garner I Alaron Research - 14 February 2007
Treasuries moved impressively higher on Bernanke commentary. According to the Fed Chair, inflation risk has subsided. Coming into the trading day, most speculators and analysts were looking for the Fed to continue to emphasize its vigilant stance. Judging by the sharp move higher, Bernanke’s ... read more nasdaq I dow report - Bernanke's testimony leaves the Dow at a record high
Carley Garner I Alaron Research - 14 February 2007
Bernanke’s testimony excited stock traders and leaves the Dow at a new closing record high. Along with the Fed Chair banter, the market enjoyed positive earnings from Applied Materials Inc.
As noted by Art Hogan, the chief market strategist at Jefferies in ... read more the bond report - Treasury COT suggests heavily short specs
Carley Garner I Alaron Research - 12 February 2007
Bonds traded sideways for much of the day, but some late session selling pressure came into play. Today’s event calendar was, well…uneventful. Tomorrow is expected to be similar, but we are in store for some potential excitement going into the end of the week which is packed full of data. ... read more nasdaq I dow report - Struggling stocks, selling was moderate
Carley Garner I Alaron Research - 09 February 2007
Equities struggled on the Friday before option expiration, but it wasn’t a complete debacle. Be aware though, according to the Stock Trader’s Almanac the Dow has been down 2 of the most recent Monday’s prior to option expiration after 11 consecutive winners. According to their ... read more the bond report - Treasury slide
Carley Garner I Alaron Research - 09 February 2007
Fresh selling pressure and a lack of follow through buying compounded to send the bond market tumbling. Many analysts were actually looking for some end of the of week position squaring to support the market, but that didn’t seem to be the case. Some of the day’s action could simply be reaction to the ... read more the bond report - Bouncing Bonds
Carley Garner I Alaron Research - 07 February 2007
The Treasury market continues to show impressive stamina in light of the heavy short speculation. Today’s high of 111’03 was consistent with yesterday’s predicted resistance at this level. As you recall, we stated that a break of 111’03 should leach to a push towards 111’17, although the upward momentum seems to be lacking. ... read more nasdaq I dow report - Stocks end in a wash
Carley Garner I Alaron Research - 07 February 2007
An early morning push and a late session tumble, ended in a wash. Most of the major indices were relatively mixed, with the NASDAQ posting moderate gains in light of a robust sales forecast from Cisco Systems Inc.On the economic front, the Labor Department’s productivity figures for the fourth ... read more the bond report - Running bonds
Carley Garner I Alaron Research - 06 February 2007
It was a good day for the bond bulls. Treasuries spent most of the morning creeping higher gaining momentum as they day went on. The market has been pricing in a heavy supply, so traders were focusing on the day’s auction and some Federal Reserve member speeches. Foreign demand remains the key to ... read more nasdaq I dow report - Stocks in a rut
Carley Garner I Alaron Research - 06 February 2007
It was a sideways day on Wall Street, despite the day’s Fed speak, a profit warning from National Semiconductor Corp. and a weak open.
Tech traders were waiting for the release of Cisco Systems Inc. due after the bell. Cisco is considered to be a barometer of the overall sector. Keep ... read more the bond report - The bond rally crumbles mid-day
Carley Garner I Alaron Research - 01 February 2007
Treasuries made and impressive run this morning post data, but spent the rest of the day giving up early gains. Many are attributing the rally to short covering, once those that wanted to be got on the sidelines there was nobody left to buy. The rally also lured fresh shorts looking to speculate on ... read more nasdaq I dwo report - Stocks posted gains for the second day in a row
Carley Garner I Alaron Research - 01 February 2007
Stocks posted gains for the second consecutive day as Wall Street cheered a healthy consumer spending report. Wednesday was the best day of 2007 for the U.S. equity market, and today’s session wasn’t a disappointment. ... read more the bond report - Bonds bid higher on FOMC announcement
Carley Garner I Alaron Research - 31 January 2007
The market has been begging for some relief from the selling pressure, and today it finally got it. Despite a better than expected GDP, short covering ahead of the Fed announcement gave Treasuries an early bid. However, the real move took place post FOMC announcement. ... read more the bond report - Overnight bid, but unable to hold
Carley Garner I Alaron Research - 29 January 2007
Treasuries caught an overnight bid, but were unable to keep prices in the green. The moderate tick higher was likely on position squaring ahead of this week’s full economic calendar and the FOMC meeting. The market’s reluctance to find footing suggests that the bears will take the market down another notch. A bond reversal tends to be swift not gradual. ... read more nasdaq I dow report - Stocks traded sideways ahead of FOMC meeting
Carley Garner I Alaron Research - 29 January 2007
Stocks traded sideways ahead of the FOMC meeting. Holding the equity market afloat was news of merger and acquisition activity. Merrill Lynch & Co. is set to acquire First Republic Bank for $1.8 billion. Additionally, Citigroup Inc. agreed to buy Prudential PLC’s Egg Banking PLC for about $1.13 billion. ... read more nasdaq I dow report - Weak, but not giving up
Carley Garner I Alaron Research - 26 January 2007
After trading weaker for most of the day, stocks forged an impressive comeback. Near unchanged for the day seems impressive in light of recent weakness. Yesterday’s plunge was the Dow’s worst performing day of 2007.
The market is coming to the realization that assumptions of a Federal Reserve interest rate cut were premature. ... read more the bond report - Tumbling bonds
Carley Garner I Alaron Research - 26 January 2007
Bonds were unable to hold their ground despite a weaker than expected durable goods number. The headline number came in at 3.1%, not bad…but not the 4% analysts were looking for. On the other hand, the market was expecting a jump in new home sales, and the data delivered. New home sales increased ... read more the bond report - Shameless slide
Carley Garner I Alaron Research - 25 January 2007
Treasuries continue a shameless slide to levels not seen since last fall. The previous low of 109’25 was reached and surpassed. There were undoubtedly several sell stops beneath this price to exaggerate the damage. The nail in the bond coffin was a much better than predicted home sales number. The MBA ... read more nasdaq I dow report - Yesterday's excitement quickly fizzled
Carley Garner I Alaron Research - 25 January 2007
The stock market suffered considerably despite yesterday’s exuberance. 12,700 in the March Dow doesn’t seem likely…at least for now. The day’s fundamental news was hardly worth mentioning and certainly didn’t deserve such a violent reaction. The selling pressure was based on technical resistance and the ... read more Good news in tech stocks boosted equities
Carley Garner I Alaron Research - 24 January 2007
Restored confidence in the tech sector sparked a broad market rally. Profit reports issued from Yahoo Inc. and Sun Microsystems Inc. excited investors’ prospects over upcoming earnings. “Some earnings are coming in a little better, some a little worse but it’s showing us that the fourth quarter wasn’t in ... read more the bond report - Lifeless bonds...
Carley Garner I Alaron Research - 24 January 2007
A lifeless bond market is counting on the data scheduled for release on both Thursday and Friday to turn things around. After trading moderately higher in the overnight sessions much of this week, the market has failed to put a rally together. Recent selling pressure has been exaggerated by light ... read more the bond report - Gravity weighs on bonds
Carley Garner I Alaron Research - 23 January 2007
The long bond is finding a significant amount of resistance near 111. After a short lived, early morning push bonds couldn’t defy gravity making their way toward 110 despite the overseas bid. For the most part, the day’s data didn’t provide traders with any surprises, or even guidance. ... read more the bond report - Bouncing bonds, but will it last?
Carley Garner I Alaron Research - 22 January 2007
Yields have risen just enough to attract the attention of bargain hunters, however bond market sentiment remains weak. The bears ended last week with an upper hand following a string of positive economic news. Similar to the Fed’s stance on monetary policy, this week’s trade will likely ... read more nasdaq I dow report - Stocks slump ahead of earnings
Carley Garner I Alaron Research - 22 January 2007
Stock prices suffered at the hands of investors taking profits and growing concerns over the technology sector. With the first big wave of earnings reports scheduled this week, traders are beginning to realize that “one bird in the hand is worth two in the bush”. Tech leaders Qualcomm Inc. and Microsoft Corp. are both due to release ... read more the bond report - Busted bonds
Carley Garner I Alaron Research - 19 January 2007
The bond market continues to sink as strong economic news is causing a slow leak in the risk premium built into prices.
The index of consumer sentiment impresses on the upside with an increase of 6.9% to 98. This is the highest sentiment reading since
... read more nasdaq I dow report - Stocks were mixed on option expiration Friday
Carley Garner I Alaron Research - 19 January 2007
So-so earnings left investors undecided as to what side of the market they would like to be on. Stocks were narrowly mixed on Friday as option expiration turned out to be a non-event. Going into this year’s January option expiration, the Dow had settled lower in 7 of the last 8. Those seven ... read more the bond report - An impressive recovery shifts momentum to the upside
Carley Garner I Alaron Research - 18 January 2007
Bonds suffered early at the hands of a semi-hot CPI number, however buyers looked at the dip as an opportunity to get into the market. The December CPI rose .5% with the core CPI rising .2%. Adding to the bearish sentiment in morning trade, December housing starts impressed analysts by a 4.5% gain, ... read more the bond report - Treasuries Slumped
Carley Garner I Alaron Research - 17 January 2007
Treasuries slumped amid less than bond friendly economic news. The December PPI rose a little more than economists had expected. The headline came in about .9% higher, with energy prices up 2.5% (mostly do to a seasonal adjustment). The big surprise came from a 1.7% jump in food prices. ... read more nasdaq I dow report - Profit warnings weigh on the market
Carley Garner I Alaron Research - 16 January 2007
Lower oil prices weren’t enough to draw attention away from corporate profit warnings. Stocks traded relatively sideways, but the bias was negative. Even a new all time intraday high in the Dow was met with little excitement. Today marks the beginning of the bulk of “earnings season”. So far, the reports have shown ... read more the bond report - Slightly bid going into the week's data
Carley Garner I Alaron Research - 16 January 2007
A disappointing NY Empire State manufacturing index started the day off on positive footing. The headline number came in at 9.1, vs. previous readings of over 20. The bond friendly data failed to make waves, but managed to give the market a healthy bid. ... read more the bond report - The bond market continues to leak.
Carley Garner I Alaron Research - 12 January 2007
Bond trade wasn’t nearly as exciting as the grains, but there was some price movement. The March 30 year has been trading consistently lower over the pas several sessions, and today was no exception. The long bond slid another half a point on less than impressive volume. Losses on the note were a ... read more nasdaq I dow report - Equities rallies for the third day in a row.
Carley Garner I Alaron Research - 12 January 2007
The U.S. equity markets posted moderate gains for the third trading session in a row. Despite an ECBOT failure mid-day, there weren’t many surprises.
Positive retail sales data managed to draw attention away from the day’s profit warnings. As a result, an early morning loss was quickly converted into ... read more the bond report - Bonds broke...
Carley Garner I Alaron Research - 11 January 2007
Bonds broke down as market expectations for the Federal Reserve easing interest rates continues to fade. While the bond market seemed to be contrary to the other financial markets in regards to the Fed’s next move, it seems as though Treasury traders are beginning ... read more Bond bulls shaken, but market on hold for next week's data
Carley Garner I Alaron Research - 10 January 2007
A better than expected November Trade deficit shook the bond bulls a bit. This report was the third in a row suggesting that the gap is thinning. However, the reaction was somewhat muted as traders are holding out for the bigger releases due next week. This week’s schedule offers some ... read more the bond report - Bonds were barely breathing in today's session
Carley Garner I Alaron Research - 09 January 2007
For the second day this week, bonds were barely breathing. The long bond traded in an extremely tight trading range and not surprisingly settled near unchanged. It was the same story across the curve, the Ten-Year and Five-Year notes failed to pick a direction. ... read more The bond market barely had a pulse in the first trading day of the week
Carley Garner I Alaron Research - 08 January 2007
The bond market barely had a pulse in the first trading day of the week. With a plethora of news set to hit later in the week, and with next week being another shortened trading week, traders are taking their time to re-enter the Treasury market. ... read more Bond traders squared positioned themselves ahead of the employment report
Carley Garner I Alaron Research - 04 January 2007
The bond market enjoyed a weaker than expected initial jobless claims number and a disappointing ISM, the result was a healthy bid as market participants positioned themselves ahead of Friday’s employment report. The CME derivatives auction is predicting about 82,000 jobs added last month. ... read more the bond report - Despite a quiet close, bonds were full of surprises
Carley Garner I Alaron Research - 03 January 2007
Despite the quiet close, the overall trading day was full of surprises. The U.S. bond market began the day with a healthy bid, but a blast of positive economic news took the wind out of the sails of the bulls. The morning strength can partly be attributed to ADP estimates as traders are now back ... read more nasdaq I dow report - Housing market concern takes its toll on stocks
Carley Garner I Alaron Research - 03 January 2007
Concern over a housing market slump sent stocks tumbling. The market gave back early gains, plus a little more following the release of the FOMC minutes of the December meeting. At its best level of the day, the Dow was enjoying a triple digit rally. ... read more the bond report - Treasuries Limped into the Year-End
Carley Garner I Alaron Research - 29 December 2006
Treasuries limped into the year-end. Battered down bonds, forged a late session comeback but still closed slightly lower on the day. Light volume, a lack of news and a lack of interest remain a burden to bond traders. The NYSE and the NASDAQ have announced that they will be closed in ... read more nasdaq I dow report - Wall Street Ended the Year with a Positive Tilt
Carley Garner I Alaron Research - 29 December 2006
Wall Street ended the year with a relatively quiet trading session. However, 2006 proved to be an exciting one for stock market bulls. Despite a 2-year interest rate hike campaign by the Fed, the major indexes settled near multi year highs. ... read more the bond report - Bonds Tumble for the Second Day in a Row
Carley Garner I Alaron Research - 28 December 2006
Despite a moderate bid in overnight trade, the bond market struggled for the second day in a row. Much of the days news was released at 10 AM Eastern. The December Chicago PMI manufacturing index rebounded higher to 52.4, this comes following a dip to contraction at 49.9. New orders were ... read more the bond report - Bonds Stumbled Lower in Light Volume
Carley Garner I Alaron Research - 27 December 2006
U.S. Treasuries stumbled in today's trade on light volume and little economic guidance. Sell stops were being religiously "hunted" as the market penetrated uptrend-line support. The only economic report released this morning was the November new home ... read more nasdaq I dow report - The Santa Claus Rally is in Full Effect
Carley Garner I Alaron Research - 27 December 2006
The Santa Claus rally is in full effect. Stocks gained impressive ground on Wednesday as traders applauded a possible alliance between auto giants Ford and Toyota. Executives at Toyota Motor Corp and Ford Motor Corp. met today and sparked speculation on what ... read more the bond report - Bonds Drift Higher
Carley Garner I Alaron Research - 26 December 2006
Light volume continues to dominate holiday trade. With absolutely no economic releases scheduled today, traders were offered very little to go on. According to analysts, the recent weakness in the dollar has worked against the Treasury market significantly. A study conducted by ... read more nasdaq I dow report - Stocks Rebounded from Friday's Plunge
Carley Garner I Alaron Research - 26 December 2006
Buyers were enticed to enter the market as many were looking to enter the market on a dip. Thinly traded market conditions were likely the culprit of Friday's selling pressure as well as today's impressive recovery. Lower oil prices are said to be the day's catalyst as traders seem to have ... read more the bond report - Bonds are a Bore...
Carley Garner I Alaron Research - 20 December 2006
U.S. Treasury futures seem to have fallen victim to the holiday doldrums. Trading volume is extremely light. The few floor brokers that are still showing up for work are finding that it wasn't worth the ride on the El train. News headlines were few and far between. The most exciting event ... read more the bond report
Carley Garner I Alaron Research - 18 December 2006
Coming off of a rocky week in the bond pit, Treasury traders were inactive at best. Many don't bother to show up for work during this time of year due to a lack of liquidity and action, so far this year has held true to the stereotype.
The current account reached a record 225.6 billion in the third quarter. ... read more the bond report
Carley Garner I Alaron Research - 15 December 2006
Bond traders had a hard time picking a direction in today's trade. This morning's benign inflation data sparked an impressive rally, but the excitement quickly faded...leaving most of the Treasury complex near unchanged by the close. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 15 December 2006
The stock market extended gains following a positive CPI reading and a positive industrial production number for the first time in two months. The news suggests that the economy is moving along at a slightly slower, but healthy pace while inflation seems to be in check. ... read more the bond report
Carley Garner I Alaron Research - 14 December 2006
Bonds struggled to get back on their feet following yesterday's bloodbath. An early morning retracement higher quickly failed in light of some positive economic news. Weekly jobless claims have been trending lower as of late, and this week was no ... read more nasdaq I dow report
Carley Garner I Alaron Research - 14 December 2006
Equities rallied on the Thursday before the triple witch. Although tomorrow is said to be option expiration, for futures traders it is the Thursday before that marks the last trading day for both options and futures in the case of quarterly months. ... read more the bond report
Carley Garner I Alaron Research - 13 December 2006
After being bid in the overnight session, Treasuries dropped sharply following a big jump in retail sales. The November retail sales came in 1% higher than the previous reading, this was well beyond what analysts were expecting. The buying frenzy is said to have been the direct result of lower ... read more  nasdaq I dow report
Carley Garner I Alaron Research - 13 December 2006
Stock index futures failed to hold a strong bid in early morning trade to settle near unchanged for the day. The November retail sales were an upside surprise giving equity bulls a reason to buy. However, given the lofty levels of the market, investors are starting to become reserved. ... read more the bond report
Carley Garner I Alaron Research - 11 December 2006
There was little news to guide the market, but traders didn't seem to notice. Bonds pushed relentlessly higher as technical traders were looking to execute longs near the uptrend line support and light volume exaggerated the move. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 11 December 2006
The markets are timidly awaiting the FOMC announcement slated for tomorrow afternoon. The market remains bid on a string of merger and acquisitions. Last week alone, there were a total of about $45.4 billion worth of acquisitions among companies in the Standard & Poor's 500 index. ... read more the bond report
Carley Garner I Alaron Research - 08 December 2006
As predicted, the Treasury market suffered at the hands of the Non-Farm Payrolls report. The headline number was reported to be 132,000 jobs added to the domestic economy, this was a little higher than consensus estimates. Meanwhile, the unemployment ... read more nasdaq I dow report
Carley Garner I Alaron Research - 08 December 2006
Wall Street was unsure of how to react to a better than expected jobs number combined with a downward revision of last months reading; however, the bias was to the upside.
According to the Labor Department, there were 132,000 new jobs created last month along with an impressive rate of unemployment at 4.5%. According ... read more the bond report
Carley Garner I Alaron Research - 07 December 2006
Treasuries struggled to stay above water in the face of tomorrow's employment report. Leaving the bulls uneasy about what may unfold between now and 8:30 am Eastern, weekly jobless claims fell 34,000 to 321.000. The report suggests that there may be some minor weakness in the labor market, but ... read more nasdaq I dow report
Carley Garner I Alaron Research - 07 December 2006
Equities traded moderately lower despite a positive jobless claims reading. The Labor Department reported the biggest drop in jobless claims seen in six months. The news suggests that the job market, although weaker, is still healthy. As we all have become familiar, the weekly jobless claims ... read more the bond report
Carley Garner I Alaron Research - 06 December 2006
Bonds took a much needed breather today in light of Friday's Non-Farm Payroll release. In case you are still paying attention to the ADP estimates of the payroll data, they are calling for a gain of 158,000 jobs. This is well above consensus estimates of 105,000. If you remember, last ... read more the bond report
Carley Garner I Alaron Research - 05 December 2006
The Treasury market is stalling ahead of Friday's Non-Farm Payroll report. The market needs an extension of the weak string of economic data in order to retain the current lofty levels. Today's numbers, although considered to be second tier reports, were economy friendly. Revisions to productivity ... read more nasdaq I dow report
Carley Garner I Alaron Research - 05 December 2006
An ease in wage pressure supported stocks as speculation of a Fed trade cut is looming. According to the Labor Department, wages and benefits rose at a tamer pace throughout the third quarter than analysts had anticipated. This is key given the Fed's persistent stance on inflation. ... read more the bond report
Carley Garner I Alaron Research - 04 December 2006
The bond market got off to a weak start, but once again gained momentum throughout the trading day to close near unchanged. On the economic front, there is little in the way before we get to the Non-Farm Payrolls data due out on Friday. Chicago Fed President Moskow, spoke to CNBC at 9:00 am. As expected, Moskow seemed to be ... read more the bond report
Carley Garner I Alaron Research - 01 December 2006
A weak ISM reading left bond bulls in control. The November ISM index dropped below the 50 point mark, suggesting that the manufacturing component of the economy is contracting. The headline came in at 49.5, while new orders fell to 48.7 and production fell to 48.5. Analysts ... read more nasdaq I dow report
Carley Garner I Alaron Research - 01 December 2006
Stocks were beaten down for the second time this week following a string of weak economic reports. The October ISM report showed contraction in the manufacturing sector for the first time in more than three years. The headline number was called to be 51.5, just above the neutral point, but came in at 49.5. ... read more the bond report
Carley Garner I Alaron Research - 30 November 2006
It was a stellar day for Treasuries on a combination of a weak jobless claims number and Chicago PMI manufacturing index. The March long bond held impressively strong above 114 while the March note traded above 109 for the first time this year.
The release of the initial unemployment ... read more nasdaq I dow report
Carley Garner I Alaron Research - 30 November 2006
Weak economic news weighed on the market throughout most of the trading day, but stocks were able to overcome selling pressure to settle near unchanged. The Chicago Purchasing Manager's Index cam in at 49.9 for November. This was slightly below the October reading of 53.5. This month's ... read more the bond report
Carley Garner I Alaron Research - 29 November 2006
Bonds enjoyed a healthy early morning bid, but eventually fell victim to the technical selling pressure.
The third quarter GDP was revised higher to 2.2%. This was an increase of .6%, which was better than analysts were anticipating. The news helped to keep a cap on bond prices. October ... read more the bond report
Carley Garner I Alaron Research - 28 November 2006
Bond prices benefited from a weak durable goods report. October durable goods dropped 8.3%, this comes after a September increase of 8.7%. Traders pointed out that the details suggested more weakness than many had expected. The corresponding bounce ... read more nasdaq I dow report
Carley Garner I Alaron Research - 28 November 2006
Stock traders were unsure of how to react to yesterday's price plunge and today's speech by Fed Chair Ben Bernanke. According to Bernanke, "The deceleration in economic activity currently under way appears to be taking place roughly along the lines envisioned ... read more the bond report
Carley Garner I Alaron Research - 27 November 2006
Treasuries experienced a wide-ranging day on the Monday following a long Thanksgiving weekend. After an extremely weak opening, the market forged a miraculous recovery to settle slightly higher on the day. The long bond seems poised to retest Friday's highs of 113 '27 leaving many to wonder ... read more nasdaq I dow report
Carley Garner I Alaron Research - 27 November 2006
An overdue correction was sparked on news of a decline in same store sales for Wal-Mart. Apparently investors had lot of time to mull over the current economic picture in light of the Holiday weekend. Recent weakness in the U.S. greenback probably added to the concerns. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 22 November 2006
Trade spent a majority of the day waffling on both sides of unchanged. A lack of news and a lack of volume leaves us with very little to talk about.
The equity market did kick the day off with an impressive start, but was unable to keep the momentum going ... read more the bond report
Carley Garner I Alaron Research - 20 November 2006
The bond market leaned higher going into the close of trade, but the session can best be described as directionless. From a technical standpoint, the bond market has a significant obstacle ahead of it. However, light volume could actually help bonds to the upside. It was a ... read more nasdaq I dow report
Carley Garner I Alaron Research - 20 November 2006
It was a quiet news day on Wall Street, and the market traded accordingly. In fact, this week's economic data is extremely skimpy in light of the upcoming Thanksgiving Day holiday.
Investors remained cautious about the prospects of the economy despite ... read more nasdaq I dow report
Carley Garner I Alaron Research - 16 November 2006
Sinking oil prices, tame inflation data and impressive HP earnings worked together to push stocks higher on the day. Sales for HP's fiscal fourth quarter increased $24.6 billion compared to last year's $22.9 billion. The Palo Alto based firm reported earnings of 60 cents per share. The ... read more the bond report
Carley Garner I Alaron Research - 16 November 2006
This morning's CPI data was bond friendly, but the market was unable to overcome technical barriers. Treasuries began the day well into positive territory, but failure to break technical resistance resulted in significantly weaker prices. It was a big news day. The Philadelphia Fed came ... read more nasdaq I dow report
Carley Garner I Alaron Research - 15 November 2006
Stock rallied on the release of the minutes recorded in the last Federal Open Market Committee meeting. The report gave investors confidence in the premise that the Fed has it's thumb on inflation.
The minutes suggest that the central ... read more the bond report
Carley Garner I Alaron Research - 15 November 2006
Bond bears took control of a technically weak market and a string of bearish news. Early in the trading day, the market put pressure on bonds following news of a strong NY Empire State manufacturing report.. The index rose 3.8 points to 26.7, the highest level seen since June of this year. A ... read more the bond report
Carley Garner I Alaron Research - 14 November 2006
A benign October Producer Price index gave bonds a boost on Tuesday. The PPI index fell 1.6%, exciting both bond and stock traders despite the fact that the CPI is of greater importance and has yet to be released. Also providing support to the market, this month's retail sales data came in weaker that ... read more nasdaq I dow report
Carley Garner I Alaron Research - 14 November 2006
Investors finally overcame early confusion to close the day at record levels. The market rallied on this morning's PPI report, only to dive into negative territory on the heels of a weak retail sales report. Word on the floor is that the dramatic late day rally was primarily the result of short ... read more the bond report
Carley Garner I Alaron Research - 13 November 2006
It was another quiet day in terms of economic news, but technical traders were playing the short side of bonds. With the long bond and the 10 year note pushing against resistance toward the end of last week, traders were quick to take advantage of light volume and the absence of a fundamental catalyst. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 13 November 2006
Wall Street remains optimistic on this week's heavy economic calendar. Federal Reserve Bank of Dallas President Richard Fisher calmed the nerves of many with comments of a strong economy. Fisher failed to indicate his stance on inflation; traders took this as a positive outlook on inflation. ... read more the bond report
Carley Garner I Alaron Research - 10 November 2006
Weak economic reports from the Euro Zone propped Treasuries coming into the day session. France reported a flat third quarter GDP and a contracting manufacturing sector. Analysts were surprised that the U.S. session carried out the bid in the absence of economic data. Rumors on the floor are blaming ... read more nasdaq I dow futures report
Carley Garner I Alaron Research - 10 November 2006
Stocks took a breather on a light volume-trading day as many had taken the day off to observe Veterans Day. Investors are patiently waiting next week's loaded economic calendar in search of guidance. With the earnings season over for the most part, the market needs a catalyst in order to ... read more the bond report
Carley Garner I Alaron Research - 09 November 2006
Thursday was a non-event in the treasury market, such a non event, in fact that the market settled near unchanged. The market traded slightly higher in front of the day's data, but failed to find guidance from the news.
The September trade deficit fell $4.7 billion to $64.3 billion, down from the ... read more nasdaq I dow report
Carley Garner I Alaron Research - 09 November 2006
After posting three days of gains, stocks succumbed to profit taking following weak consumer sentiment data, a rally in the energy pits and a realization that there may be policy shifts taking place in Washington D.C.
Analysts are beginning to worry about the ability for corporate America to ... read more the bond report
Carley Garner I Alaron Research - 08 November 2006
Treasuries enjoyed a post election bid, but failed to even retest the highs forged in the overnight session. Along with price support from the election, the Euro Zone bonds traded higher and resulted in overflow buying in the U.S.
Action in the day session was based ... read more nasdaq I dow report
Carley Garner I Alaron Research - 08 November 2006
After trading significantly higher in the overnight session and throughout much of the trading day, U.S. equities rallied in afternoon trade. According to sources, Wall Street became more comfortable with the idea of the Democratic control in Congress. In case you were unaware, this was the first ... read more the bond report
Carley Garner I Alaron Research - 07 November 2006
The bond market recovered some of the losses sustained on Friday. Buying pressure started early as a carry over bid from the London market. A lack of fundamental news has resulted in technically driven trade. After holding support near the 50% retracement level, bond buyers were willing to step into the market again. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 07 November 2006
The Dow Jones Industrial Average rallied into record territory in anticipation of a business friendly mid-term election. Investors were willing to buy stocks across all sectors in hopes of a Washington gridlock.
"Gridlock is good, Wall Street doesn't like change," said Charles Gabrial, a ... read more the bond report
Carley Garner I Alaron Research - 03 November 2006
Treasuries were hit hard on this morning's employment report. The October non-farm payrolls rose just 92,000, approximately 30,000 off the mark. However, the unemployment rate impressed at 4.4% and previous months data was revised significantly higher. Coming into the day, the bond market ... read more nasdaq I dow report
Carley Garner I Alaron Research - 03 November 2006
Wall Street closed out the week on a negative note. With exception to the Russell, the major indices settled moderately lower on the day despite an early morning rally off of the Employment report. The Labor Department reported that during the month of October, the U.S. economy ... read more the bond report
Carley Garner I Alaron Research - 02 November 2006
Bond prices took a breather on Thursday as many were looking to offset positions going into tomorrow's Employment Report. Talk by the ECB of vigilant rate hikes also weighed on prices. Even bond friendly Fed speak was unable to give the market a bid. Dallas Fed President Fisher noted that ... read more nasdaq I dow report
Carley Garner I Alaron Research - 02 November 2006
The rally on Wall Street was put on hold for another trading session following a less than impressive productivity report. October retail sales also disappointed. Wal-Mart Stores Inc. warned that November sales would also be below expectations. ... read more the bond report
Carley Garner I Alaron Research - 01 November 2006
Bond prices slid moderately on the open, but a string of friendly data pushed prices on the long end of the curve to the September highs. Some of the early weakness came directly after the release of ADP's payroll estimates. Many are curious as to why the markets are giving ADP enough ... read more nasdaq I dow report
Carley Garner I Alaron Research - 01 November 2006
Lackluster economic data triggered minor profit taking ahead of Friday's employment report. According to the Institute for Supply Management, there was significant softness in the U.S. manufacturing sector. While analysts were calling for a negative number, the report surprised on the ... read more the bond report
Carley Garner I Alaron Research - 31 October 2006
It was an impressive showing by the bulls as weaker than expected economic data spurred buying interest. The day's up move looked to be considerably healthy and suggests that the longer end of the curve is poised to retest monthly highs. The October consumer confidence fell unexpectedly, putting ... read more nasdaq I dow report
Carley Garner I Alaron Research - 31 October 2006
The stock market struggled in the face of disappointing economic news. Better than expected earnings weren't able to overcome the negative sentiment on Wall Street following a notable dip in the October consumer confidence.
According to the Conference Board, its index of consumer confidence fell to 105.4 from the previous month's reading ... read more the bond report
Carley Garner I Alaron Research - 28 October 2006
A disappointing GDP report confirming the bulls suspicions that the economy is on shaky ground. The U.S economy grew at a slower than expected rate of 1.6% in the third quarter. While the headline number left much to be desired, it was obvious that the drag on the report was a 17% drop in ... read more nasdaq I dow report
Carley Garner I Alaron Research - 27 October 2006
A weaker than expected GDP report thwarted the rally; but let's face it...52 points in the December Dow futures is extremely tame considering the up move that has occurred over the past two months.
Equities are relentless to the upside leaving the S&P within reach of its six ... read more the bond report
Carley Garner I Alaron Research - 26 October 2006
The Treasury complex forged gains in a post FOMC environment. The long bond steadily climbed higher throughout the day, with little in the way of selling pressure. The day's gains come on healthy volume suggesting that there may be some upside to come. Yesterday's existing home sales ... read more nasdaq I dow report
Carley Garner I Alaron Research - 26 October 2006
Equities are relentless to the upside leaving the S&P within reach of its six-year high. Despite a rocky open to the session, stocks were on the run later in the trading day... not unlike what we have been seeing throughout the past several months.
Insiders such as floor brokers and analysts are speculating on a down ... read more the bond report
Carley Garner I Alaron Research - 25 October 2006
Treasury traders were unwilling to pick the short side ahead of the FOMC announcement. This comes as no surprise as the market has been relatively flat all week in anticipation. The market spent much of the pre-announcement day with a slight bid as technical traders were looking ... read more nasdaq I dow report
Carley Garner I Alaron Research - 25 October 2006
Stock index futures traded mixed with a bearish bias on Wednesday, as traders were unsure of how to prepare for the FOMC's release of its interest rate decision and were unsure of how to react to the news once it was announced.
The Fed opted against any action, leaving the overnight target rate at ... read more the bond report
Carley Garner I Alaron Research - 21 October 2006
Once again, it was a sideways day in the bond pit as light volume and a a lack of economic news dominated trade. Trade came into the day mostly higher as the long-end of the curve benefited from overnight buying. Traders spent much of the day positioning ahead of next week's Fed policy meeting. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 20 October 2006
An overnight session bid in stock index futures was quickly reversed following the announcement of Caterpillar's disappointing third quarter earnings reports. The news stumped investor enthusiasm, but wasn't enough to break the uptrend.
Caterpillar is, of course, a big component of the Dow. According to ... read more the bond report
Carley Garner I Alaron Research - 19 October 2006
Bonds traded mostly unchanged with a bearish bias on Thursday despite a day full of data. Treasuries came into the day weaker as the global bond market suffered losses and traders speculate on a possibly strengthening domestic economy. Talk of more ECB rate hikes, an S&P downgrade of Italy's credit ... read more nasdaq I dow report
Carley Garner I Alaron Research - 19 October 2006
The Dow Jones has made a habit of setting records; today's close about 12,000 was a first and leaves equities in positive posture. The cash market Dow (not futures) settled at 12,11.73 according to the preliminary calculations that were available to me at the time of this report. Despite slightly negative economic news, ... read more the bond report
Carley Garner I Alaron Research - 18 October 2006
What originally seemed to be a bond bullish CPI report, turned out to be a non-event. Consumer inflation fell a larger than expected .05% on weak energy prices. An impressive showing in the housing market muted a minor short-lived bid following the CPI announcement. September housing starts ... read more nasdaq I dow report
Carley Garner I Alaron Research - 18 October 2006
As you may or may not already know, the Dow is comprised of 30 stocks. Some of the headline grabbers are: Wal-Mart, Microsoft and IBM. The index is price weighted, meaning that stocks with higher share prices have more influence on the price of the index. Believe it or not, many Dow stocks are negative on ... read more the bond report
Carley Garner I Alaron Research - 17 October 2006
The bond market remained well bid throughout the morning session, but forfeited most of those gains going into the close as traders are cautiously awaiting consumer inflation data due to be released at 8:30 AM Eastern. The September Producer Price Index plunged 1.3% as a result of a sharp decline in energy ... read more the bond report
Carley Garner I Alaron Research - 16 October 2006
Treasury bonds closed the session with a slight bid as traders are in anticipation of the week's economic news. With much debate over the current inflationary climate, the week's CPI and PPI reports may have a hand in determining the path of bonds ... read more nasdaq I dow report
Carley Garner I Alaron Research - 16 October 2006
Equities edged higher ahead of a bulk of much anticipated earnings reports. Speculation on positive corporate profits and a soft landing for the economy lifted the Dow closer to the benchmark 12,000.
Investors have already priced in a positive round of earnings. The near ... read more the bond report
Carley Garner I Alaron Research - 14 October 2006
The bond market was unable to hold the overnight bid as traders were looking to the sidelines going into the weekend. September retail sales numbers impressed economists, but took some of the wind out of the sails of bond bulls. The headline number fell .4% for the month ... read more nasdaq I dow report
Carley Garner I Alaron Research - 11 October 2006
Despite a relatively exciting news day, the stock market failed to close decisively in one direction. The major indices settled slightly lower after an impressive rebound from the lows.
Early weakness can be attributed to disappointing earnings numbers from aluminum ... read more the bond report
Carley Garner I Alaron Research - 11 October 2006
Treasuries traded significantly lower for the third straight trading session. It looks as though the long bond is headed for support near the 110 area. After a stronger open, the market was beaten down on inflationary concerns voiced in the Fed minutes released this afternoon. A late session ... read more the bond report
Carley Garner I Alaron Research - 10 October 2006
The Treasury market struggled to regain its composure following last Friday's plunge. Those that were long bonds in anticipation of weak economic data are beginning to shave some profits. Even with the market closed on Monday, traders entered the day's session with the bearish attitude carried over from ... read more nasdaq I dow report
Carley Garner I Alaron Research - 10 October 2006
For the fourth time in 2 weeks the Dow (cash market) sets a record close. It was a relatively eventless day on Wall Street as the major indices closed the day slightly higher. Today's action leaves the S&P near 5 1/2 year highs. Although the market attempted to "break down", weakness in the oil trading pits ... read more the bond report
Carley Garner I Alaron Research - 05 October 2006
Treasuries tumbled on Thursday to give back all of the gains posted yesterday, and then some. The weakness seems to be position squaring going into tomorrow's economic report. A better than expected weekly jobless claims triggered the profit taking as traders are speculating on the non-farm ... read more nasdaq I dow report
Carley Garner I Alaron Research - 05 October 2006
Equities pushed moderately higher in spite of pessimistic analysts and being technically overbought. We are left to wonder, "What is it going to take to stop this madness?" The bears are getting extremely tired of the hype around the rally as well as the losses in their accounts. As we too often see, ... read more the bond report
Carley Garner I Alaron Research - 04 October 2006
The bond market got a boost from this morning's weaker than expected ISM report. Although a stagnant market was expected ahead of Friday's non-farm payrolls report, the long bond enjoyed a healthy rally. The August factory orders did little to influence the market as the numbers came in unchanged ... read more the bond report
Carley Garner I Alaron Research - 03 October 2006
The long bond continues to consolidate within a relatively tight range following the steep rally of two weeks ago. However, bears seem to be reluctant to participate. Many long-term short traders were likely forced out on the move from 109 to 113. Both mental and actual stops were ... read more the bond report
Carley Garner I Alaron Research - 22 September 2006
Treasuries remain under intense buying pressure. It seems as though the move is coming primarily from short covering, but nonetheless it is impressive. With yields at their lowest levels since March, and not too far off from the 20 year lows, the long bond appears to have survived the Fed's ... read more nasdaq I dow report
Carley Garner I Alaron Research - 22 September 2006
Economic pessimism triggers profit taking for the second day in a row. After being caught by surprise by a weak Philly Fed number yesterday, traders have become relatively sensitive to signs of vulnerability. As a result, declining issues outnumbered gainers by about 2 to 1 on ... read more the bond report
Carley Garner I Alaron Research - 21 September 2006
A shockinly weak Philadelphia Fed manufacturing index ignited a full fledged rally in the bond market. The Philly Fed reported the first negative read since June of 2005. The .4 headline number was a distant cry from analyst expectations and managed to shock the market higher. Estimates for ... read more nasdaq I dow report
Carley Garner I Alaron Research - 21 September 2006
A shockingly weak Philly Fed report triggered profit taking as investors began to worry that the economy may be cooling too quickly. According to the Philadelphia Fed, it's broadest measurement of manufacturing activity fell to a negative .4 from 18.5 in August.Prior to the Philly Fed ... read more the bond report
Carley Garner I Alaron Research - 20 September 2006
The FOMC meeting dominated trade today, even prior to the announcement. After getting off to a slightly negative start, the bond market inched higher going into the 2:15 pm Eastern announcement. Going into the interest rate decision, analysts were allocating much of the risk on a downward move. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 20 September 2006
The broad market rallied ahead of the FOMC monetary policy announcement and, despite a quick retreat, continued to move higher post decision. As widely expected the Federal Reserve left the Fed Funds target rate at 5.25%. The reasoning behind the pause was identical to those given in the August ... read more the bond report
Carley Garner I Alaron Research - 19 September 2006
The long bond rallied in the face of a benign PPI report. The August Producer Price Index surprised many by ticking up a mere .1%. This leaves the index at 3.7% year over year. The declines came as the prices of vehicles, prescriptions, gasoline and capital equipment saw significant weakness. The ... read more nasdaq I dow report
Carley Garner I Alaron Research - 19 September 2006
A coup in Thailand and technical selling pressure forced the equity market lower despite positive inflation news and plummeting oil prices. Much of the concern over Thailand’s debacle seems to stem from memories of the Asia currency crisis beginning in 1997. The result of a massive devaluation of the ... read more the bond report
Carley Garner I Alaron Research - 18 September 2006
Treasuries opened lower and continued their descent throughout the day as ECB officials continue to rekindle fears of inflation. All eyes were on foreign investment data. Over the past year, the net demand for Treasuries has exceeded issuance by the Treasury department. As you know, a retreat in ... read more nasdaq I dow report
Carley Garner I Alaron Research - 18 September 2006
A modest advance in early trading failed to hold, as investors are cautious ahead of the FOMC meeting scheduled for Wednesday. A rally in crude oil seemed to have burst the bubble on stock buying. Prior to the move in energy prices, the major indices were threatening 2006 highs. ... read more the bond futures report
Carley Garner I Alaron Research - 15 September 2006
Although the market bias remains bullish the market seems to be extremely tired at these levels. A post CPI rally failed to hold ground as technical selling continues to become a factor near 111 on the December 30 year contract. Speculators are beginning to view the current chart pattern as a ... read more nasdaq I dow futures report
Carley Garner I Alaron Research - 15 September 2006
Much to the dismay of many traders and analysts, Wall Street rallied on Quadruple witching Friday. The rally was sparked early after the benign CPI report was released giving investors hope that the Fed will hold steady on the Fed Funds target rate in the next FOMC meeting. The market is enjoying ... read more the bond report
Carley Garner I Alaron Research - 14 September 2006
After a positive session in the overnight market, Treasuries slid on the day's economic news. The first number released, August retail sales rose .2% as did ex-auto sales, most analysts were calling for a negative number. The unexpected rise in retail sales leaves a 6.8% year over year gain. The weekly ... read more the bond report
Carley Garner I Alaron Research - 13 September 2006
It was a quiet, yet relentlessly bullish day in the Treasury market. Although the upside was limited, the bears were unable to continue the moderate correction from last week. The strength cam despite an announcement by the Treasury Department that the Federal Deficit is 14.1% below what it ... read more nasdaq I dow report
Carley Garner I Alaron Research - 13 September 2006
Stocks have extended gains to 4-month highs following 2 days of impressive gains. Keep in mind that we are approaching a "triple witch"!! This week should be the last "hurrah" of the stock market before tumbling lower going into October. Over the last 25 years the market has only rallied ... read more nasdaq I dow futures report
Carley Garner I Alaron Research - 12 September 2006
Tumbling crude oil and positive earnings numbers from Goldman Sachs Inc., and an optimistic outlook on management changes at Bristol-Meyers Squibb Co. and Hewlett Packard Co. Surprisingly, a gunman attack on the U.S. embassy in Syria had little impact on crude oil or the stock market. It ... read more the bond futures report
Carley Garner I Alaron Research - 12 September 2006
Treasuries traded weaker throughout the morning session, however strong auction results forced a sharp price reversal. Aside from the auction, traders had little economic news to react to. The only report of the day was the July trade deficit. The July trade deficit rose to an unexpected $68 billion. This ... read more nasdaq I dow report
Carley Garner I Alaron Research - 11 September 2006
Lower energy prices continue to keep stock prices afloat despite the full plate of economic news on the horizon. Breathtaking weakness in the commodity markets, namely the metals, may have triggered some minor portfolio adjustments. William Poole, St. Louis Federal Reserve President prompted ... read more the bond report
Carley Garner I Alaron Research - 11 September 2006
The bond market traded considerably weaker ahead of what could turn out to be an eventful week. Inflation, retail sales, manufacturing, and consumer confidence are some of areas covered by the upcoming economic releases. As a result, traders were hesitant to participate in today's market, let ... read more the bond futures report
Carley Garner I Alaron Research - 08 September 2006
Treasury bond traders enjoyed a lazy trading day. There was little economic news and even less volume. Although the market remained bid throughout the session, bonds seem to have found a near term ceiling. With an overbought status and declining energy prices, there is little reason for trader to ... read more nasdaq I dow report
Carley Garner I Alaron Research - 08 September 2006
A late day drop in crude oil propped the equity market. Following two day's of declines the market was ready for a break. Lennar Corp's announcement of a reduction in the third quarter profit forecast seemed to be overlooked by the broad market. The news was just one of many signs of a declining housing ... read more the bond report
Carley Garner I Alaron Research - 06 September 2006
Bond traders preferred the short side going into the Fed Beige book, but the market managed to recover much of the day's losses following the announcement. The Beige book noted that 5 of the 12 districts report growth "deceleration" despite the fact that consumer-spending rose slowly in a ... read more nasdaq I dow report
Carley Garner I Alaron Research - 06 September 2006
Early news of a decrease in productivity and an increase in wages inflicted fears of inflation and potential rate hikes. Following the news, the market seemed to shrug off the Fed's Beige book, which showed that the economy is still in expansion mode. However, the report also detailed signs ... read more the bond report
Carley Garner I Alaron Research - 05 September 2006
Overbought conditions and light volume finally triggered profit taking on the long end of the curve. A lack of data and Fed speak prevented the market from holding all of last weeks gains.
Analysts are beginning to show concern over the idea that the market is heavily long. However, the COT charts ... read more nasdaq I dow report
Carley Garner I Alaron Research - 05 September 2006
Stock traders were pleased with news of the discovery of a major oil reserve in the Gulf of Mexico. With all of the indices near three month highs and technically overbought, it is an accomplishment to settle near unchanged. Volume was light as many floor traders have yet to come back to the markets following the holiday weekend. Action is expected to pick up later in the week. ... read more the bond report
Carley Garner I Alaron Research - 01 September 2006
Treasuries struggled pre Non-Farm Payrolls release, but clawed their way back throughout the trading day. Light volume remains an issue as we approach the holiday weekend. Before the announcement, analysts were predicting that it would take a payroll number below 100,000 in order to ... read more the bond report
Carley Garner I Alaron Research - 31 August 2006
Predictable, given tomorrow's payroll data, the bond market traded slightly higher on the day. Position squaring, and buyers looking to play the release added to the bullish climate. Volume continues to b e light. Even option traders took the day off. Despite a few deep out of the money option ... read more nasdaqIdow report
Carley Garner I Alaron Research - 31 August 2006
It was a directionless day on Wall Street as traders are anticipating the latest payrolls news. The market seemed to shrug off comments made by Ben Bernanke. Bernanke gave a speech in North Carolina to a development conference. According to the Fed Chair, productivity ... read more nasdaq I dow report
Carley Garner I Alaron Research - 30 August 2006
Stock traders were in a buying mood, as modest volume resulted in moderately higher equity prices. The market is embracing a perfect landing for the economy and a "cease fire" with the rate hikes. It seems as though a perfect case scenario has been priced in. This means that it will take a ... read more the bond report
Carley Garner I Alaron Research - 30 August 2006
Treasuries traded slightly better on the day, but the buying was moderate and the volume light. This has been the case for the last few weeks. Month end position squaring and contract rollovers seemed to have held the market up a little. We likely won't see any dramatic moves until after the ... read more the bond report
Carley Garner I Alaron Research - 29 August 2006
Bonds traded weaker ahead of the FOMC minutes release, but managed to end the day in positive territory. According to the Fed's discussions during the last meeting, inflation risks remain a factor and additional firming may be necessary. According to the minutes, the August pause was a close call. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 29 August 2006
Investors were unsure of how to react to the FOMC minutes released from the August monetary policy meeting. After an initial downturn, Wall Street posted gains for the second consecutive session. Declining crude oil prices added to the upside bias. The Conference Board's consumer ... read more the bond report
Carley Garner I Alaron Research - 28 August 2006
Light volume continues to dominate the treasury market. This is nothing new for this time of year, however that doesn't make it any less annoying. The August doldrums are nearly as unbearable as the pre-Christmas December dead time. Floor traders are anticipating some end of the month ... read more nasdaq I dow report
Carley Garner I Alaron Research - 28 August 2006
Sagging energy prices forced buyers into the stock market. While the Dow has yet to penetrate recent highs, the day's action discouraged equity bears.
Ex-hurricane Ernesto, seems to be more like Ernesta. Now a tropical storm, and nowhere near the gulf coast, crude oil plunged. The new information took ... read more the bond report
Carley Garner I Alaron Research - 24 August 2006
The July New Home Sales numbers failed to move the bond market. New home sales fell 4.3% to 1.072 million, this marks a sharp decline of 22% from the peak a year ago. Much of the housing weakness occurred in the Midwest and South, while the Northeast and the West actually saw gains. Analysts noted that ... read more nasdaq I dow report
Carley Garner I Alaron Research - 24 August 2006
Although stocks managed to avoid a wave of liquidation, Wall Street couldn't entice the bulls enough to forge a rally. Less than impressive economic data has kept the upside of equities in check. Both durable goods and the new homes sales pointed toward an economic downturn. The news suggests that the ... read more the bond report
Carley Garner I Alaron Research - 23 August 2006
With little else to go off of, traders were searching for reasons to buy or sell. As a result, existing home sales warranted more attention than it would normally receive. July existing home sales struggled even more than analysts had expected. The number came in at 6.33 million, down 4.1%. According to ... read more nasdaq I dow report
Carley Garner I Alaron Research - 23 August 2006
For the third day in a row, stocks traded lower. Confirmation of a housing slowdown triggered profit taking as traders continue to worry that the economy may be slowing "too fast". If so, corporate earnings will inevitably suffer. Retailers and homebuilders took the biggest hit. It ... read more nasdaq I dow report
Carley Garner I Alaron Research - 22 August 2006
Equities were relatively directionless, however the bias was to the downside. The early part of the session saw stocks in the positive, but a rekindling of inflation concerns by some Fed speakers sparked a moderate wave of liquidation.
Chicago Federal Reserve President ... read more the bond report
Carley Garner I Alaron Research - 22 August 2006
The bulls continue to force yields lower despite widespread speculation on lower bond prices and increased interest rates. As I have mentioned in the past, this is a very seasonally bullish time of year for bonds. The upside tends to be relentless going into the fall. It does seem as though ... read more the bond report
Carley Garner I Alaron Research - 21 August 2006
Quiet remains the Treasury market theme. However, the market was impressively bid, as sellers seem to have taken a break. Many analysts were expecting traders to begin taking profits following last week's buying frenzy. The volume was extremely light as there was little economic news to provide guidance. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 21 August 2006
Investors took a little bit of money off of the table. A little profit taking is to be expected following the steep rally that we recently underwent. Prior to today, the market posted five consecutive profitable sessions. Last week gains put the major indices near three-month highs. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 18 August 2006
Stocks pushed higher on option expiration Friday despite weak earnings issued from Dell Inc., disappointing economic news and an up tick in energy prices.
Dell, currently one of the world’s largest computer manufacturers, reported a second-quarter profit plunge ... read more the bond report
Carley Garner I Alaron Research - 18 August 2006
Treasuries gained ground in the overnight session, and continued to show strength throughout the trading day. The slowing global economy and signs of moderate inflation seem to have improved the demand for fixed income securities. Traders note that the market is due for a downside ... read more the bond report
Carley Garner I Alaron Research - 17 August 2006
It was quiet day in the bond pit. After an early morning rally faltered, the long bond and the 10-year drifted lower to settle near unchanged. Traders are blaming profit taking and consolidation of the recent up move. Those in the pit also noted that the volume continues to be less than ... read more nasdaq I dow report
Carley Garner I Alaron Research - 17 August 2006
A sharp drop in oil prices almost helped Wall Street push the major indices out of their current trading ranges. However, the rally petered out later in the trading day. Not even strong earnings from Hewlett-Packard Co. were able to fend off of the selling. A slightly weaker leading ... read more nasdaq I dow report
Carley Garner I Alaron Research - 16 August 2006
Wall Street celebrated the second benign inflation report this week. Today's data seemed to validate yesterday's reaction leaving stocks near multi month highs. The CPI or Consumer Price Index, rose .4% in July. Although this was slightly higher than the June reading, the core ... read more the bond report
Carley Garner I Alaron Research - 16 August 2006
The bond market had a good showing today following a bullish CPI report. Two inflationary reports back to back.... Treasuries may be in store for an extension of the rally. The market gained strength throughout much of the session, and managed to avoid meeting any real selling pressure. ... read more the bond report
Carley Garner I Alaron Research - 15 August 2006
Although the market wasn't anticipating any big surprises from the PPI report, there was plenty of volatility following its release. Prior to the announcement, the long bond led the short end of the curve into a modest bid. The July producer price index rose just .1% while the core index ... read more nasdaq I dow report
Carley Garner I Alaron Research - 15 August 2006
A healthy drop in wholesale prices lit a fire under stock traders. The Dow Jones Industrials rallied well into the triple digits. Wall Street took this morning's report as a sign that the Fed was successful in fighting inflation without putting the domestic economy into a recession. This might signal ... read more the bond report
Carley Garner I Alaron Research - 14 August 2006
The bond market suffered losses with both the 10-year and the 30 year hovering near their 20 day moving averages. There were a few attempts to "rally" toward unchanged in early trading, but these up moves were met with selling pressure.
Traders are on edge in front of this ... read more nasdaq I dow futures report
Carley Garner I Alaron Research - 14 August 2006
A thwarted rally leaves the broad market slightly higher on the day. A cease-fire in the Middle East and plummeting energy prices excited traders. However, a lack of volume worked against equities. The buying ran out early, and led to a quick reversal. Much of the lack of upward sustainability ... read more nasdaq I dow reporz
Carley Garner I Alaron Research - 09 August 2006
Stock indices settled decisively bearish on concerns over energy prices, a slowing economy and inflation. A strong earnings report from Cisco managed to keep tech stock selling at a minimum, but was essentially overlooked by the broad market. The word "stagflation" is beginning to be ... read more the bond report
Carley Garner I Alaron Research - 08 August 2006
The Treasury market traded in a tight range ahead of the FOMC monetary policy announcement. Surprisingly, the market continued to hug unchanged post release. The initial move for bonds was to the upside, however long traders were quick to take profits and the bears were quick to sell the rally. ... read more the bond report
Carley Garner I Alaron Research - 07 August 2006
Supply concerns and uncertainty over tomorrow's FOMC meeting stalled the rally that ended trade last week. Spiking oil prices, which would have normally shed positive light on bonds, failed to ignite a bond up move.
Traders pointed out that the market is technically overbought and a potential ... read more nasdaq I dow report
Carley Garner I Alaron Research - 07 August 2006
Crude oil near record levels and uncertainty over tomorrow's FOMC meeting left stocks slightly negative. BP shutdown a major Alaskan oil field for maintenance sparking a rally in crude oil. Possible pipeline corrosion halted extraction of what represents about 8% of daily U.S. production. ... read more the bond report
Carley Garner I Alaron Research - 04 August 2006
The July non-farm payrolls came in slightly below estimates at 113 thousand jobs added. This is the strongest in 4 months, but shows a continuous slowdown in employment. The unemployment rate jumped .2% to 4.8% The 10 year note is successfully clinging to rates below the benchmark ... read more nasdaq I dow report
Carley Garner I Alaron Research - 04 August 2006
Stocks were mixed post employment news. The labor department reported slower job growth relative to consensus estimates, which is what the market was hoping for. The problem.... the Dow is technically exhausted and Friday's are notorious for profit taking. The market has spent the last two weeks ... read more the bond report
Carley Garner I Alaron Research - 03 August 2006
Traders are on edge going into tomorrow's employment report. Over the last three payroll readings, consensus estimates have been an average of 70 thousand over the actual. The average number of jobs added has been 108,000. Some are speculating that a number will come in well below expectations of ... read more nasdaq I dow report
Carley Garner I Alaron Research - 03 August 2006
Stocks posted healthy gains in Thursday's session despite the uncertainty surrounding tomorrow's payroll report and next week's FOMC meeting. Retail sales showed that retailers experienced a relatively positive July, which is typically a slow month for sales. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 02 August 2006
Healthy earnings from Time Warner Inc. and Procter & Gamble Co. sparked Wall Street despite uncertainty going into the upcoming Fed meeting. Time Warner posted a $1 billion profit, a stark contrast last year's second quarter loss. On a negative note (even though nobody seemed to notice), a tropical ... read more the bond report
Carley Garner I Alaron Research - 02 August 2006
Similar to yesterday's trade, bonds forged a mid day comeback from a hole dug in early morning trade. The Fed's announcement of a 44 billion dollar quarterly refunding, along with a commitment to increase the frequency of the 30-year auctions, put trade on the defensive. ... read more the bond report
Carley Garner I Alaron Research - 31 July 2006
Unchanged was today's theme, however things might be drastically different by weeks end. There will be plenty of economic news, and geopolitical action of coarse, to give this market reason to move. Treasuries stuck within a pretty tight range, with spurts of volume throughout the day. Traders, as ... read more nasdaq I dow report
Carley Garner I Alaron Research - 31 July 2006
Profit taking ahead of Friday's employment report seemed to have halted the equity rally. However, the losses were modest while the major indices settled mixed. New attacks in Israel and Lebanon remind traders that there are plenty of uncertainties surrounding the financial markets. Additionally, ... read more the bond report
Carley Garner I Alaron Research - 28 July 2006
Treasuries forced themselves higher despite technically weak trade throughout much of the week. Word of slowing growth has resulted in strong buying on healthy volume. The GDP reading came in slightly weaker than the expected 3.0% at 2.5%. Traders are of the opinion that the news will slow ... read more nasdaq I dow report
Carley Garner I Alaron Research - 28 July 2006
The second quarter GDP was a catalyst for Wall Street to push equities higher. Investors are banking that the data dependent Fed will see 2.5% growth as a reason to put the rate hikes on hold. As mentioned on this report before, a 2.5 to 3% growth rate is perfectly healthy. In fact it is more ... read more the bond report
Carley Garner I Alaron Research - 26 July 2006
Bonds regained ground lost during yesterday's session. The short end of the curve benefited greatly from the Fed Beige book. Traders noted that there was a bit of a short squeeze going on in the shorter maturities as the market was hunting stops near the 100-day moving average. However, some ... read more nasdaq I dow report
Carley Garner I Alaron Research - 26 July 2006
Word of a slowing economy supported equities as investors are speculating on whether or not the Fed will continue to raise interest rates. Their proclamation of being data dependent has added to the magnitude of market reactions to economic data. The Fed Beige book highlighted continuing strength in the ... read more the bond report
Carley Garner I Alaron Research - 25 July 2006
The bond market spent most of the day hovering in a tight range near session lows. However, traders were unwilling to take the market lower despite some relatively bearish economic news out earlier this morning. Technical traders argue that the bond market has been stuck in a trading range throughout the ... read more nasdaq I dow report
Carley Garner I Alaron Research - 25 July 2006
Equities traded on both sides of par, but closed the session in positive territory after plummeting energy prices reversed an early morning sell-off. Worries over mixed earnings, were somewhat offset by better than expected consumer confidence numbers. UPS Inc and 3M disappointed the street, ... read more the bond report
Carley Garner I Alaron Research - 24 July 2006
Volume, along with action, was relatively light. However, it seems as though the sentiment has changed leaving the bulls in control. Higher energy prices continue to fend off any technical selling pressure that the bond market might otherwise be subject to. Crude managed a push above ... read more nadaq I dow report
Carley Garner I Alaron Research - 24 July 2006
Stocks surged on the Monday following option expiration suggesting that Friday's plunge may have simply been position squaring. Acquisitions and positive earnings numbers acted as the catalyst. In the spotlight, three equity firms purchased HCA, a hospital operator, for $21.3 billion in cash and ... read more the bond report
Carley Garner I Alaron Research - 20 July 2006
A swift move lower following a strong jobless claims number was quickly reversed as Bernanke continued to testify. According to the FOMC minutes, "Growth of economic activity in the second quarter slowed substantially from its rapid first-quarter pace." It was also noted that ... read more nasdaq I dow report
Carley Garner I Alaron Research - 20 July 2006
Hefty losses at Ford Motor Co. weighed on blue chips despite impressive numbers from Apple and Motorola. A drop in Intel earnings highlighted a slowing tech sector. Mixed earnings and tension in the Middle East halted the buying frenzy. However, the upside move will likely ... read more the bond report
Carley Garner I Alaron Research - 19 July 2006
Bond traders finally woke up from slumber. The long bond spent the day posting gains, and closed the session with most of the rally in tact. Market friendly testimony from Fed Chief Bernanke favored the bull camp. According to Mr. Bernanke, slowing economic growth and inflation seem to ... read more nasdaq I dow report
Carley Garner I Alaron Research - 19 July 2006
Positive earnings reports and help from Bernanke's testimony catapulted stock to "pre-war" levels. The Fed chair shed optimism on the market with his view of moderating economic growth and contained inflation. This was interpreted as a clue that the rate hike campaign might be coming to an end. ... read more the bond report
Carley Garner I Alaron Research - 17 July 2006
Bond traders were checking their pulses in the pits. The market, along with the floor brokers were barely "breathing". The summer doldrums tends to be at extreme levels during throughout the end of July. Steady stocks trade fended off any potential selling pressure, while ... read more nasdaq I dow report
Carley Garner I Alaron Research - 17 July 2006
Stocks waffled on both sides of unchanged on Monday, as investors are unsure of the impact that the Middle East conflict might have on the U.S. economy. Disappointing earnings from Citigroup didn't breed optimism on Wall Street...even a sharp drop in energy prices failed to ignite a rally. ... read more the bond report
Carley Garner I Alaron Research - 14 July 2006
Treasuries benefited from weakness in the stock market...barely. Once again, the long bond market refuses to react to the Mid East crisis or even the stock market plunge. Additional bullish news that seemed to be ignored by the market was a report by the Wall Street Journal highlighting the ... read more nasdaq I dow report
Carley Garner I Alaron Research - 14 July 2006
Corporate downgrades, surging oil prices and sheer panic are pushing the equity indices lower...again. This marks three consecutive bloodbaths. The Dow suffered the biggest blow on a percentage basis, with the S&P keeping its composure despite everything that is going on in the world. ... read more the bond report
Carley Garner I Alaron Research - 13 July 2006
Bonds caught a bid on weakness in the stock market. The Treasury market has grossly overlooked some of the geopolitical events that have occurred over the past several days, while stock investors are using it as a reason to panic. In other words, although bonds are reacting to global events they are ... read more nasdaq I dow report
Carley Garner I Alaron Research - 13 July 2006
High oil prices spooked investors for the second day in a row. The Dow suffered the biggest blow, but stocks were deep into the red across the board. Wall Street was speculating on high energy prices luring the Fed to continue raising the overnight rate.
Crude futures soared to new intraday ... read more the bond report
Carley Garner I Alaron Research - 12 July 2006
A depressing open for bond bulls ended the day in neutral territory. It took nearly the entire session to make up for early losses, but the long bond was determined to discourage further selling. Much of the afternoon recovery came on the heels of a declining stock market. Remember, this ... read more nasdaq I dow report
Carley Garner I Alaron Research - 12 July 2006
Stocks plunged as investors express concerns over a drop in oil inventories and the resulting higher energy prices. The market shrugged off news of a tame deficit to focus on the gloomier news.
Inflation and "pain at the pump" continue to be in the back of trader's minds. The commerce department reported an ... read more the bond report
Carley Garner I Alaron Research - 11 July 2006
It was smooth sailing for bonds this morning. The market opened with a slight bid, and continued the trend throughout the day. Each day that passes with the long bond above critical support, the bulls are gaining momentum. While the economy is still relatively strong, I think that ... read more the bond report
Carley Garner I Alaron Research - 10 July 2006
What started out as a bearish day, ended with Treasuries near unchanged levels across the board. Floor traders attribute recent early morning weakness as profit taking following Friday's up move.
May wholesale inventories came in beyond expectations. Analysts were ... read more nasdaq I dow report
Carley Garner I Alaron Research - 10 July 2006
Stocks traded significantly higher early in the trading day. Drugs, energies and financials all posted impressive gains on Monday although the broad market settled relatively mixed. Investors remain a little timid going into the second-quarter earnings season. Keep in mind, that good ... read more the bond report
Carley Garner I Alaron Research - 07 July 2006
It has been a choppy week in the Treasury pits. Today's trade took back much of the losses forged early in the week, suggesting that traders are not ready to take this market to new lows.
Non-farm payrolls came in much lower than the ADP estimates of 368,000. 121,000 jobs added give us a three- ... read more nasdaq I dow report
Carley Garner I Alaron Research - 07 July 2006
As we had expected, the market caught a bid off of the non-farm payrolls data and was unable to hold gains. The number came in far less than the ADP prediction of 368,000, the actual came in at 121,000 with an unemployment rate of 4.6%. Without the jump in hourly wages, this number would have been stock friendly. ... read more the bond report
Carley Garner I Alaron Research - 06 July 2006
The market worked its way higher following the ISM manufacturing data, which showed a sudden drop. Light volume has taken its toll on this market. Yesterday’s sell off was likely exaggerated much like today's rally was a little overdone based on the new information. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 06 July 2006
After an impressive rally early in the day, U.S. stocks settled mixed. The Dow outperformed the broad market on news of a favorable tobacco ruling that sent Altria shares soaring.
Volume was less than lackluster. Traders seem to be in a "wait and see" mode" going into tomorrow's non-farm ... read more the bond report
Carley Garner I Alaron Research - 05 July 2006
Treasuries traded weaker in the overnight session, but it was a non-farm payroll estimate released from ADP that broke the bond market. ADP boldly predicts that 368,000 jobs were added to the U.S. economy last month. This is considerably higher than the consensus estimate of 160,000. Holiday ... read more nasdaq I dow report
Carley Garner I Alaron Research - 05 July 2006
Soaring oil prices, and a lofty prediction on Friday's non-farm payroll number sent the stock market tumbling. Crude oil rallied above $75 per barrel on the heels of a gasoline rally. Tension in the energy pits has been escalated alongside geopolitical concerns. Additionally, a Texas ... read more the bond report
Carley Garner I Alaron Research - 30 June 2006
As predicted, the bond market benefitted from end of the month and holiday position covering. The bulls must have been pleased with the day's events. The market ran higher on healthy volume, this may suggest that this is the beginning of a bigger move. The June Chicago manufacturing index ... read more nasdaq I dow report
Carley Garner I Alaron Research - 30 June 2006
Stocks were extremely tame across the board. This was welcomed following a month full of excessive volatility and yesterday's massive rally. The day's economic news was relatively neutral, which supports those calling for a Fed pause and looks good for the upside of the stock market. ... read more the bond report
Carley Garner I Alaron Research - 29 June 2006
The bond market had a healthy upside reaction to the FOMC statement. The quarter point move was expected, but the words that came with it really moved the markets. After a month long inflation tirade by Bernanke, today's statement was surprisingly tame. This lack of hawkish focus gave the ... read more nasdaq I dow report
Carley Garner I Alaron Research - 29 June 2006
After bringing the stock market down throughout the month of July on inflationary concerns voiced by Bernanke, investors were willing to reverse course following tame statements provided by the FOMC. The rate hike was expected, but many traders or analysts didn’t anticipate ... read more the bond report
Carley Garner I Alaron Research - 28 June 2006
It was another rough day for Treasuries. Poor demand at the day's auction and FOMC uncertainty pushed bonds lower. The lack of short covering took some analysts by surprise; apparently traders are looking for Bernanke to scream inflation. While all is looking weak ... read more nasdaq I dow report
Carley Garner I Alaron Research - 28 June 2006
Late session gains pushed the Dow and NASDAQ moderately higher as traders remain timid about tomorrow's meeting. Energy stocks led the charge. Exxon Mobil Corp. benefited from sector strength, pushing over 2% higher on the day. This was the most influential Dow component. ... read more the bond report
Carley Garner I Alaron Research - 27 June 2006
Short covering ahead of the FOMC meeting on Thursday helped the Treasury market gain composure. But the bid faded going into the later part of the trading day as traders anticipated the day's auction results. Post auction, the market was less than impressed with the demand for 2-year ... read more nasdaq I dow report
Carley Garner I Alaron Research - 27 June 2006
Thursday's FOMC meeting and interest rate decision has the market locked in range. A healthy round of acquisitions failed to ignite the bulls, or lure traders from the sidelines. The selling pressure came after slumping home sales and a better the forecasted consumer confidence number. Traders ... read more the bond report
Carley Garner I Alaron Research - 24 June 2006
Treasuries continue to sink. With an FOMC meeting looming, a lack of economic news and many traders on vacation this isn't necessarily surprising to see sluggish trade. However, what little news we have seen as of late appears to have a bullish tilt. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 23 June 2006
A weak durable goods report from the Commerce Department capped the upside of equities. The market struggled on both sides of unchanged.
Durable goods orders dropped .3% in May. While this was better than last months decline of 4.7%, the headline number didn't paint a pretty picture of ... read more the bond report
Carley Garner I Alaron Research - 22 June 2006
It was a relatively uneventful day, however you wouldn't know it by looking at the financial markets. Stocks, bonds and currencies all saw significant moves. Treasuries skidded lower as floor brokers were searching for weak stop orders and an absence of fundamental guidance.
While bearish sentiment is currently at ... read more nasdaq I dow report
Carley Garner I Alaron Research - 22 June 2006
Despite a lack of news, stocks experienced a relatively eventful trading day. The weekly unemployment numbers pointed toward a weaker job market, however this was expected. Analysts weren't expecting a larger than expected drop in Conference Board's index of leading indicators. ... read more the bond report
Carley Garner I Alaron Research - 21 June 2006
Boring...The market is obviously lacking guidance, and will likely continue its sideways action going into the beginning of next week. FOMC meetings are always good in terms of volatility. Is it good trading.... well that depends on which side you are on. Volume was low, ranges were tight and ... read more nasdaq I dow report
Carley Garner I Alaron Research - 21 June 2006
Pre-earnings season numbers pushed stock prices considerably higher. Investors were pleased with Morgan Stanley and FedEx's strong earnings reports, causing a temporary lapse of memory regarding next week's interest rate decision and uncertain energy prices. Even the bears have to ... read more the bond report
Carley Garner I Alaron Research - 20 June 2006
Treasuries attempted to make a move in both directions throughout the day, but failed to gain ground either way. Unchanged seemed to be the theme of the week. Floor traders noted that the bears have built momentum up over the last few trading sessions. Selling in the German Bund put pressure on an ... read more nasdaq I dow report
Carley Garner I Alaron Research - 20 June 2006
Higher housing data forged a bounce back from yesterday's sell off. Despite the positive news shed on real estate, housing stocks tumbled following somewhat disappointing forecasts for their business during June.
Impressive sales from Caterpillar Inc. ... read more the bond report
Carley Garner I Alaron Research - 19 June 2006
Treasuries sagged much of the trading day despite a few pushes into positive territory. Treasury traders are keeping a close eye on equities, any sign of continued stock pressure will offer fixed income securities support. This is a relatively slow data week as well as Fed speak, so the direction of ... read more nasdaq I dow report
Carley Garner I Alaron Research - 19 June 2006
Equities slipped throughout the session as a lack of news, and technical selling dominated trade. Even a stronger greenback and declining oil prices failed to ignite stock traders.
There is little economic news due out this week, leaving investors to search for guidance. As a result, trading ... read more the bond report
Carley Garner I Alaron Research - 16 June 2006
Unlike the beginning of the week, floor traders were reporting sizable "pockets" of volume throughout the day. The market seemed to give up later in the day as the number of participants sharply tapered.
Analysts continue speculative chatter on the Fed's next monetary policy move. According to Reuters, "an ... read more nasdaq I dow report
Carley Garner I Alaron Research - 16 June 2006
Stocks were modestly lower as the market digested the last two days of strength. Many were expecting the market to continue to uphold the sell on rallies mentality. The ability of the market to hold onto the recently forged gains is promising for the bull camp. The most interesting aspect about ... read more the bond report
Carley Garner I Alaron Research - 15 June 2006
Treasuries continued their downward slide on Thursday, but the selling was relatively contained. Recent gains in the stock market have lured sellers back to the long bond as some are beginning doubt the portfolio shifting that seemed to be inevitable. In the option pit, there still seems to ... read more nasdaq I dow report
Carley Garner I Alaron Research - 15 June 2006
Today's rally leaves traders wondering whether this is the "real deal" or just option expiration. It is hard to believe that a market can go from being on the verge of a crash to a 300-point rally in the Dow. What a difference a day makes.Strong earnings from Bear Stearns and positive, but relatively ... read more nasdaq I dow report
Carley Garner I Alaron Research - 14 June 2006
The equity markets surged higher despite the month's bearish tilt. This morning's CPI report attempted to halt the celebration, nonetheless bargain hunters and short covering came to the rescue.
According to the Labor Department, inflation during the month of May was ... read more the bond report
Carley Garner I Alaron Research - 14 June 2006
Non-stop commentary from the Fed throughout the trading day, as well as a warm CPI number and a Beige Book full of hints of suspected inflation worked together to break bond prices. Other areas of interest in the Beige Book were a cooling housing market, high-energy prices, a lack of ... read more the bond report
Carley Garner I Alaron Research - 12 June 2006
Unlike equities, the Treasury market was dead on Monday. A weak open saw little follow-through; eventually the market became content with settling unchanged. Traders are unwilling to pick a direction going into this week's inflation data...which is predicted to be tamer than previous ... read more nasdaq I dow report
Carley Garner I Alaron Research - 12 June 2006
Plunging equities have become the norm rather than the exception. What happened to the random walk theory?
According to my sources on the floor, the market has posted gains on the Tuesday before June expiration 15 of the last 22 years. Accordingly, they are expecting a few up days this week ... read more the bond report
Carley Garner I Alaron Research - 09 June 2006
Treasuries held recent gains and even managed to gain a few ticks on the day. This is a far cry from action seen over the past several months in which all rallies were quickly taken down. Could this be the turning point for the long bond?
In the coming week, the market will be ... read more nasdaq I dow report
Carley Garner I Alaron Research - 09 June 2006
After a positive start to the trading day, stock indices slipped in afternoon trade. Inflation and interest rate concerns continue to linger in the minds of investors.
Without a doubt, this week has been the most trying of 2006. Many analysts agree that the market correction has ... read more the bond report
Carley Garner I Alaron Research - 08 June 2006
Treasuries are looking to the equity markets for guidance. A higher dollar and freefalling stocks worked together to push Treasuries above water. The ECB raised interest rates, as expected, but seemed to be less hawkish than most were anticipating. As a result, the Euro gave up a lot of ground. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 08 June 2006
After staring at my monitor for a few minutes, I realized that there were no words to describe today's action. One trader that I spoke to made the comment that he hasn't seen markets like this since 2001. Only this time, there was no catastrophic event to trigger the volatility. In fact, there really wasn't any notable ... read more the bond report
Carley Garner I Alaron Research - 07 June 2006
Alan Greenspan made his way back into the news, but not into the hearts of bond traders. In fact traders hardly blinked an eye as the former Fed Chairman spoke to the senate. His focus was on oil prices and its impact on the economy. He noted that world refining capacity has ... read more nasdaq I dow report
Carley Garner I Alaron Research - 07 June 2006
Stocks tumbled for their third straight session. Investors, analysts and commentators are getting frustrated with Ben Bernanke's persistent ramblings on inflation. Transparency is a great concept, but it can be "abused".
Given the recent volatility in the marketplace, it would seem as though ... read more nasdaq I dow report
Carley Garner I Alaron Research - 06 June 2006
The Dow settled at its worst level since the beginning of March, but the selling wasn't just domestic. Global equities also saw massive selling interest.
At one point during the session, Dow futures were down over 150 points. The index was able to cut losses in half by ... read more the bond report
Carley Garner I Alaron Research - 05 June 2006
Bonds were beaten down following comments made by Fed Chair Ben Bernanke, however it is pale in comparison to the weakness seen in the equity markets. Selling pressure in the S&P and the Dow may trigger some portfolio rebalancing, which would give the bond market a bid. Bernanke still believes that the U.S. economy is on ... read more nasdaq I dow report
Carley Garner I Alaron Research - 05 June 2006
Stocks were already suffering at the hands of Iranian officials. Iran claims that they will curtail energy distribution if there is an attack on the country over nuclear arms.
We are beginning to see signs of bottoming. Not necessarily technical or fundamental, but in the commentary ... read more the bond report
Carley Garner I Alaron Research - 02 June 2006
Ahhhh, the bulls are sighing with relief. Non-Farm payrolls were expected to be a little light, but the 75,000 print was far below even the lowest predictions. The long bond managed to close considerably higher, however, it was the short end of the curve that outperformed. The 5-year ... read more nasdaq I dow report
Carley Garner I Alaron Research - 02 June 2006
A sharp dip in new jobs initially pushed stock futures higher, but the opening of the cash market halted the celebration. According to the labor department, the U.S. economy only added 75,000 jobs during the month of May. This was less than half of what most pessimistic predictions. ... read more the bond report
Carley Garner I Alaron Research - 01 June 2006
Unlike yesterday's Chicago PMI, the May ISM index managed to come in at it's lowest level since August. However, analysts claim that despite the number looks weak on the surface, underlying evidence still points toward continued growth. Bond traders were eying surrounding ... read more nasdaq I dow report
Carley Garner I Alaron Research - 01 June 2006
Stocks put together two impressive days following Tuesday's plunge. This says a lot for the bull camp, but I am a little unsure of the markets ability to extend gains. The Dow will find heavy resistance near 11340, not too far away. Seasonally we are entering a relatively stagnant time of year... ... read more nasdaq I dow report
Carley Garner I Alaron Research - 31 May 2006
After a relatively wide swinging session, the market ended the day significantly in the green. There was a brief mid-day sell off following the FOMC minutes. The Fed comments focused on inflation pressures, which increase concerns over continued rate hikes.
According to Douglas Porter, a senior ... read more the bond report
Carley Garner I Alaron Research - 31 May 2006
The market held a slight bid in early trade, but eventually succumbed to selling pressure. It seems as though month end activity (position squaring) as well as contract rollovers are having an effect on trade. Speculation on the jobs numbers is said to be keeping the market afloat. ... read more the bond report
Carley Garner I Alaron Research - 30 May 2006
Bonds are slowly bleeding away recent gains. The day's negative tone was carried over from the weakness in the Euro zone sparked by inflation fears. Word of Treasury Secretary Snow resigning battered the greenback and gave bond traders a reason to avoid the long side of the market.
This morning's consumer confidence ... read more nasdaq I dow report
Carley Garner I Alaron Research - 30 May 2006
Stock traders were in the mood to sell following the holiday weekend. Higher oil prices, disappointing consumer confidence data and a weak May sales report from retail giant Wal-Mart contributed to the bearish sentiment.Ironically, the Conference Board's consumer confidence index came ... read more the bond report
Carley Garner I Alaron Research - 25 May 2006
I give bonds an A for effort. With all of the bearish sentiment floating around the trading pit, the day's modest declines look relatively healthy. This morning's economic data seemed to be bond friendly overall, but the reaction was muted. Volume is, and will be, extremely light throughout the ... read more nasdaq I dow report
Carley Garner I Alaron Research - 25 May 2006
Investors cheered as a jury found Kenneth Lay and Jeffrey Skilling guilty of conspiracy and securities and wire fraud in the infamous Enron scandal. The decision came on the sixth day of deliberations following a four-month trial. Also on the list of convictions, bank fraud (making false ... read more the bond report
Carley Garner I Alaron Research - 24 May 2006
Bonds had a good showing following a strong overnight market and a weak durable goods report this morning. However, the market gradually lost its bid throughout the day despite the fact the global bonds are screaming higher. Fixed income securities are benefiting in a flight to quality phenomenon as geo political risks are escalating. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 24 May 2006
Less than impressive economic news worked in favor of equity bulls. A sharp drop in April durable goods orders lifted hopes of a Federal Reserve pause. Additionally, the Commerce Department reported that the overall housing demand has been gradually tapering, despite a strong headline number. ... read more the bond report
Carley Garner I Alaron Research - 23 May 2006
Improvements in the stock market lead bond prices lower on the day. The market traded lower overnight, and spent the day session clawing its way back to unchanged. Many traders are noting today's weakness to technical failure. The Ten Year note (cash market) failed to hold below 5%, ... read more nasdaq I dow report
Carley Garner I Alaron Research - 23 May 2006
Stocks made some headway on Tuesday, but were unable to stay in positive territory. Homebuilder Toll Brothers Inc jolted the market with better than expected earnings. Despite the fact that the commodity rally "popped" the market last week, a rally in metals and energies helped ... read more the bond report
Carley Garner I Alaron Research - 22 May 2006
Global concern over struggling equity markets pushed Treasuries much higher in the overnight. The strength continued into early trade but gains were faded as the day session came to a close. The long bond gave back all of the day's progress to settle near unchanged. Many analysts are referring ... read more nasdaq I dow report
Carley Garner I Alaron Research - 22 May 2006
The volatile trade seen at the end of last week, carried over into the new week. However, the modest losses posted on the close of the stock market were welcomed following extremely lower prices in the overnight market. Believe it or not, there was even a brief run in the green (positive territory). While the cash market Dow ... read more the bond report
Carley Garner I Alaron Research - 19 May 2006
Strong volume and healthy buying pushed Treasuries to multi session highs. However, the gains were short lived as position squaring and doubts about a Fed pause in June weighed on the market.
Floor brokers noted that despite afternoon weakness, the bond rally was somewhat promising. Speculative ... read more nasdaq I dow report
Carley Garner I Alaron Research - 19 May 2006
Equities pushed higher (and lower) throughout the trading day. It was a relatively wild day on Wall Street. A quick morning rally abruptly turned around bringing the major indices to new lows. The day's range was only a 100 points, but the intraday swings were likely unmanageable for most.
The increase in volatility may suggest ... read more the bond report
Carley Garner I Alaron Research - 18 May 2006
The Treasury rally was in full force, but this time it wasn't the daily economic news...or even Fed Speaches. In fact, the both of those factors favored the bears (except for a comment by Richmond's Lacker that put a rate hike pause in question). The long end managed to take back all of the losses ... read more nasdaq I dow report
Carley Garner I Alaron Research - 18 May 2006
U.S. stocks were unable to hold early gains. Hawkish remarks from Fed officials, lackluster economic data and failure for the market to hold its composure following the plung from multi year highs all put the bears in the driver's seat.
Although much of yesterday's weakness ... read more the bond report
Carley Garner I Alaron Research - 17 May 2006
Inflation concerns continue to drive bond prices lower. CPI data broke the back of the Treasury market, but talk of higher global interest rates managed to keep bonds trading near their worst levels for much of the day. However, a massive sell off in the stock market gave bonds a slight bid going into the close of the day session. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 17 May 2006
The day's inflation data led stock traders to assume that the Fed would continue to raise rates. While the Dow had been the "over performing" index throughout the last push higher, the Dow is not finding itself on the other end of the equation. Blue chip stocks are suffering, as investors are quick ... read more the bond report
Carley Garner I Alaron Research - 16 May 2006
Light trade and position squaring lead the bond market considerably higher. Short covering began to control the market early following a relatively tame inflation reading. Many traders are looking for a pause at the next Federal Open Market Committee meeting. Sorry so short.... the Money Show is in Las Vegas this week. See you there!! ... read more nasdaq I dow report
Carley Garner I Alaron Research - 16 May 2006
Inflation, inflation, inflation.... Investors were less than satisfied with this morning's PPI release even though the headline number beat the street. According to the Labor Department's producer price index, suggest that higher energy costs have yet to really push wholesale prices higher.
Larry Wachtel, a market analyst for ... read more the bond report
Carley Garner I Alaron Research - 15 May 2006
This will be a pretty big week for the bond market. Recent volatility in the commodity markets, namely gold, silver and crude oil has investors skittish about the upcoming inflation data. Producer Price Index data will be released tomorrow morning, while the Consumer Price Index will be out on ... read more nasdaq I dow report
Carley Garner I Alaron Research - 15 May 2006
A significant slide in commodities, specifically precious metals and oil prices, along with a technically oversold market lead to short covering and bargain hunting. Although the major indices settled relatively tame, the intraday swings were pretty impressive.
According to Peter Cardillo of S.W. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 11 May 2006
Skyrocketininvestors jittery. With the Dow near all time highs, traders were ready to take profits. In fact, the major indices saw their biggest one-day drop since mid-January. Interestingly enough, analysts are blaming the drop on comments made by the Fed in yesterday's FOMC announcement...talk ... read more the bond report
Carley Garner I Alaron Research - 11 May 2006
Bonds were beaten down.... again. Volume was light; floor traders noted that the orders came in "pockets of size". Even a decent showing in the 10-year auction couldn't fend the market from the bears.
In the option pit, some of the bigger houses were buying puts on the 10 year. ... read more the bond report
Carley Garner I Alaron Research - 10 May 2006
Morning trade brought modest gains for the long bond as shorts were liquidating positions going into the dreaded FOMC announcement. As was widely expected, the Fed raised the overnight borrowing rate a quarter of a point.
According to a Wall Street Journal ... read more nasdaq I dow report
Carley Garner I Alaron Research - 10 May 2006
The Fed announced that they were going to raise the target overnight borrowing rate another quarter point.... big surprise. Consistent with past statements, the Fed noted that continued rate hikes might be necessary. The initial reaction in the equity markets was decidedly bearish, ... read more nasdaq I dow report
Carley Garner I Alaron Research - 09 May 2006
Stocks were mixed, but the Dow is determined to outperform the other major indices. A GM upgrades helped push the cash Dow to record highs. As mentioned in yesterday's report, Dow futures have been considerably higher (11872).
Tomorrow's FOMC meeting could put the rally to a halt. It appears as though ... read more the bond report
Carley Garner I Alaron Research - 09 May 2006
Bonds traded weaker much of the day, but a promising 3-year note auction lifted Treasures from session lows. Although there was little economic news out today, the airwaves were burning with analyst and government commentary. Treasury Secretary Snow stated that the economic growth ... read more the bond report
Carley Garner I Alaron Research - 08 May 2006
Action in the Treasury market was consistently quiet as traders are awaiting Wednesday's FOMC statement. One analyst went as far as to say that there were "tumbleweeds rolling through the market".
Both buyers and sellers remain at bay. Option action was mixed as individual traders and larger institutions were ... read more nasdaq I dow report
Carley Garner I Alaron Research - 08 May 2006
The major indices traded on both sides of unchanged. Lower oil prices and a flurry of large acquisitions helped defend the market from profit taking. The economic calendar was blank for the day, while there is only one report scheduled for tomorrow. However, Wednesday's FOMC meeting should deliver the volatility that traders yearn for. ... read more nasdaq I dow report
Carley Garner I Alaron Research - 05 May 2006
The Dow rallied to a six year high following a weaker than anticipated job number. Non Farm Payrolls came in well under the 200,000 that economists were looking for. The slowdown in April employment growth is sparking additional speculation on a Fed rate pause. Jack Caffrey, equities strategist for JPMorgan Private Bank, said that the ... read more the bond report
Carley Garner I Alaron Research - 05 May 2006
Treasuries were unchanged going into this morning's employment report. Weaker than predicted job numbers forced bond prices immediately higher. However, follow through buying failed to materialize.
The market was fairly confident in a reading or 200,000 jobs added to the ... read more nasdaq I dow report
Carley Garner I Alaron Research -
Stocks refused to budge despite the triple witching occurring at the close of trade today and tomorrow and hot inflation numbers released by the Labor Department. Declining oil prices failed to ignite a rally, but seemed to have single handedly kept the market afloat. On a positive note, the Commerce ... read more |
