Financial Planning for Comfortable Retirement: Tips and Strategies
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Morning Brief
Headline News: Equity futures point to a higher open this morning after Friday’s action saw the major averages end the week on a winning note, finishing with gains of 1.5% or wider for the week. Trade negotiations with China continue to unfold ahead of the November 10 trade truce expiration. Bloomberg reports that President Trump stated soybeans, rare earth materials, and fentanyl are his main concerns with China that will be addressed in talks set to take place in Malaysia this week. The market will receive a hefty batch of earnings reports this week that will include nearly one-fifth of the S&P 500. While there are no consequential economic data releases today, Friday will see the delayed release of the September Consumer Price Index. (Michael Gibbs, Managing Director, Lead Portfolio Manager ) Markets: The S&P 500 closed higher at 6,664.01 and has now formed a five-day base. The index appears to be trading in a new range between 6,724.12 and 6,550.78, while the RSI index is also consolidating within a clear band. A breakout above 6,724.12 could trigger renewed buying interest and potentially lead to a retest of recent highs. Conversely, a move below 6,550.78 could invite additional selling pressure and… Read More
Morning Brief
Headline News: The stock market is on track for another higher opening after the S&P 500 and Nasdaq Composite finished higher yesterday with strong performances in the tech space, while pockets of weakness in the broader market saw the DJIA retreat to its flatline. Semiconductor names are poised for another strong session after a company reported strong bookings in its Q3 earnings report, offering an encouraging read-through for chipmaking trends. In macro developments, USA Today reports that when President Trump was asked if the recent situation with China could pull the U.S. into a sustained trade war, he replied, “We’re in one now.” The president also lauded tariffs as a way to combat threats from China, stating that the U.S. would be exposed without them. The ongoing government shutdown continues to delay key data releases, though the market’s expectations for further easing from the Fed remain steady. (Michael Gibbs, Managing Director, Lead Portfolio Manager ) Markets: The S&P 500 experienced a sell-off early in the session, followed by a late rally, but ultimately closed little changed at 6,671.06. The index briefly traded above the 20-day moving average but was unable to hold that level, establishing near-term resistance at 6,674.58. The RSI… Read More
Morning Brief
Headline News: Equity futures point to a higher open this morning after yesterday’s action saw the major averages shed the bulk of their hefty early losses, ultimately finishing mixed. The turnaround was broad-based, though tech and certain mega-cap stocks still lagged and limited growth at the index level. The financials sector was a standout yesterday as a slate of major banking names beat earnings expectations. The market is currently receiving another sizable batch of earnings reports. Trade concerns with China still linger after President Trump threatened retaliation for China’s soybean boycott yesterday afternoon. In Washington, Politico reports that Senate Republicans will hold votes on three bills that fund various government agencies as the shutdown persists. The market heard from several FOMC officials yesterday, which kept rate cut expectations elevated for both the October and December FOMC meetings. The Fed’s Beige Book is set for release at 2:00 p.m. ET. The MBA Mortgage Applications Index for the week ended October 11 decreased 1.8% from a prior decrease of 4.7%. (Michael Gibbs, Managing Director, Lead Portfolio Manager ) Markets: The S&P 500 traded down to and held support at 6,550.78. Buyers stepped in at that level, lifting the index to a higher close… Read More
Morning Brief
Headline News: Equity futures point to a lower open this morning after yesterday’s tech-driven rally saw the major averages recover roughly half of Friday’s losses. Mega-cap tech and semiconductor names that outperformed yesterday are down in the pre-market as trade concerns with China linger. Reuters reports that China has sanctioned five U.S.-linked subsidiaries of the South Korean shipbuilding company, Hanwha Ocean. The Wall Street Journal reports that both the U.S. and China are publicly trying to de-escalate trade tensions. However, the Trump administration is privately pressuring China and considering a range of retaliatory options. Treasury Secretary Scott Bessent said President Trump is still on track to meet with Chinese President Xi in late October, according to Reuters. Earnings reports have ramped up this morning with the release of several large banking names. At the same time, most have delivered EPS and revenue beats, a handful trade lower in the pre-market after experiencing a nice run leading up to their earnings release. The NFIB Small Business Optimism Index contracted to 98.8 in September from a prior level of 100.8, the market’s only economic data release today. (Michael Gibbs, Managing Director, Lead Portfolio Manager ) Markets: The S&P 500 rallied sharply on Monday,… Read More
Morning Brief
Headline News: Equity futures point to a higher open this morning after President Trump eased trade-related concerns with China, posting on Truth Social on Sunday, “Don’t worry about China, it will all be fine!” The post follows a separate message from Friday, when the president said China was being “very hostile” and warned of a “massive increase” in tariffs on Chinese goods, sending the stock market sharply lower. The ensuing retreat marked the worst day for the S&P 500 since the sweeping tariff announcements of early April, with tech names being hit particularly hard. Treasury Secretary Scott Bessent added to the optimistic sentiment this morning, saying in a Fox Business interview that the U.S. and China communicated over the weekend, and he still expects President Trump to meet with Chinese President Xi soon. In other global news, The New York Times reports that Hamas has released all living Israeli hostages as part of a Gaza ceasefire brokered by the United States, with President Trump stating that the war “is over” in the region. In Washington, the government is not any closer to passing a funding resolution to end the ongoing government shutdown, with The New York Times reporting that President… Read More
Morning Brief
Headline News: Equity futures point to a slightly higher open this morning after yesterday’s action saw the S&P 500 and Nasdaq Composite quickly nab fresh record highs just after the open before a broad-based retreat sent the major averages lower. The market will actually have some economic data to assess this morning, with the preliminary reading of the October University of Michigan Consumer Sentiment Survey (Briefing.com consensus: 54.5) set to be released at 10:00 a.m. ET. On the policy front, CNBC reports that Treasury Secretary Scott Bessent has narrowed the list of potential Fed Chair candidates to five people, which includes Fed Vice Chair Michelle Bowman, Fed Governor Chris Waller, Director of the National Economic Council Kevin Hassett, former Fed Governor Kevin Warsh, and BlackRock (BLK) Fixed Income CIO Rick Rieder. President Trump is expected to make a final decision by January. Mr. Waller (FOMC voting member) joined CNBC this morning and stated that he still believes rates need to be cut, but the Fed has to be careful about it. (Michael Gibbs, Managing Director, Lead Portfolio Manager ) Markets: The S&P 500 tested resistance at 6,755.63, but sellers stepped in, pushing the index to close lower at 6,735.11. The RSI… Read More
Morning Brief
Headline News: Equity futures point to a flat opening this morning after a rally in tech names and mixed strength across the broader market sent the S&P 500 and Nasdaq Composite to record highs yesterday. With the exception of a few corporate headlines in the AI space, yesterday’s session was largely uneventful. The market did not receive any economic data of note, and the September FOMC minutes offered no surprises, keeping the market’s expectations for further easing steady after their release. The U.S. government shutdown is still in effect, which means the market will not receive the weekly jobless claims data today. New York Fed President John Williams (FOMC voting member) said in an interview that he favors additional rate reductions amid concerns over the labor market, according to The New York Times. While the market will not receive any consequential economic data today, investors have a handful of high-profile earnings releases to evaluate ahead of next week’s ramp-up (Michael Gibbs, Managing Director, Lead Portfolio Manager ) Markets: The S&P 500 closed at another all-time high of 6,753.72, while the RSI index finished just below the overbought threshold at 69.8. Both price and momentum indicators remain in confirmed uptrends, and the… Read More
Morning Brief
Headline News: Equity futures indicate a slightly higher opening this morning, following yesterday’s modest retreat from record highs. Mega-cap and semiconductor names were among the prominent laggards after reports raised questions about their gross margins. The U.S. government remains in shutdown mode, which has had little effect on the equity market but continues to prevent the release of some economic data points. The market is set to receive the FOMC minutes from the September meeting this afternoon, which showed broad support for the resulting 25-basis-point rate cut. Bloomberg reports that the shutdown and lingering concerns around the state of the U.S. economy have driven gold prices to record-high levels, surpassing $4,000 per ounce for the first time. Macro developments remain relatively quiet this week, amid the lack of data, although earnings reports are expected to pick up substantially over the next week. The MBA Mortgage Applications Index for the week ended October 4 decreased by 4.7%, following a prior decrease of 12.7%. (Michael Gibbs, Managing Director, Lead Portfolio Manager ) Markets: The S&P 500 experienced a broad-based sell-off after briefly testing the all-time high at 6,750.87. The index closed lower at 6,714.59, while the RSI slipped back below the overbought… Read More
Morning Brief
Headline News: Equity futures indicate a flattish open after yesterday’s action saw the Nasdaq Composite capture a record intraday and closing high, and the S&P 500 notch a record close. Mega-cap names and semiconductors led the advance, while pockets of weakness in the broader market saw the DJIA close beneath its flatline. Macro headlines are once again quiet this morning amid the ongoing government shutdown and ensuing economic data blackout. The Wall Street Journal reports that President Trump has signaled an openness to strike a healthcare deal with Democrats to end the shutdown, with Democrats reportedly willing to come to the table as well. Nonetheless, the market has paid little mind to the shutdown so far as it furthers its push into record territory. (Michael Gibbs, Managing Director, Lead Portfolio Manager ) Markets: The S&P 500 closed at a new all-time high of 6,740.28, with the RSI finally breaking above 70 to confirm the move. However, buying enthusiasm appeared muted, as up volume accounted for only 46% of total volume. Since September 25, the index has advanced 2.6% without a meaningful pullback and now sits at the upper Bollinger Band. This positioning suggests the market may be overbought in the… Read More