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Stocks took a beating yesterday after a key manufacturing gauge disappointed… again. Chips were hit hard because they are an easy target – taking profits is not as hard as taking losses when the market is in turmoil.

Stocks traded higher on Friday with a last-minute surge sealing the deal as traders rebalanced portfolios on the final trading day of the month. Core PCE inflation pulled back further than expected, further clearing the path for rate cuts later this month.

Stocks had a mixed close yesterday because… well, because things are better than traders thought with the economy. With NVIDIA’s earnings out of the way, traders turned their focus to the OTHER important economic numbers in today’s PCE inflation number and next week’s monthly jobs data.

Markets slipped yesterday because it was the last week in August and boredom ahead of NVIDIA’s earnings allowed their minds… and fingers to wander. NVIDIA beat almost every estimate handily, as usual, but investors were expecting it to be fireworks like a first kiss – it wasn’t, but it was still...

Stocks crawled higher yesterday as traders eagerly await important economic data – NVIDIA’s earnings report, due this afternoon. Consumer Confidence jumped higher, beating economists’ expectations, boosting the chances of a soft-landing scenario.

Stocks had a mixed close yesterday with energy higher and tech lower as traders decided to take some profit on their recent high-flyers. Durable Goods Orders shot up higher than expected last month which is a sign that the economy will continue to thrive.

Stocks rallied on Friday, with a sigh of relief, as Fed Chief Powell finally caved. New Home Sales surged unexpectedly in July – possible proof that lower interest rates can indeed increase demand… and possible inflation.