March 28, 2024

Thank you to our Vets!

Index & Sector performance DATE The Market: Any given day stocks will make big moves but today with the bond market closed in observance of Veteran’s Day the broad markets seemed happy to consolidate.  Do not be surprised if today’s action is the calm before a strong directional move. Being that today was a Bank Holiday, there was no government economic data announced.  We did see the NFIB Small Business Index come in slightly below expectations posting a 91.6 when 93.5 was expected. Story Stocks: Merger Monday as ViroPharma (VPHM) agreed to be acquired by UK drugmaker  Shire (SHPG).  The…

No Summers….Yee Haw!

The Market: After Larry Summers took himself off the Fed Chair block, the markets baked in expectations of Janet Yellen who many feel will be more accommodating than Summer may have been.  The possibility of more stimulus from the fed or at least the likelihood that stimulus would persist was enough to send S&P 500 futures gaping higher Sunday evening and showing strength early in the trading session but the open marked the highs and the S&P 500 lost ground the remainder of the day closing 7 points off the highs. Economic data was light today but also ignored due…