Insights, Delivered Daily.

Stocks rallied for a second straight day, propped up by upbeat earnings. Manufacturing and services PMIs stalled in the US according to the latest flash releases – both are on the brink of contraction.

Equities rallied yesterday as investors finally got up the courage to buy stocks on sale. Corporate earnings are rolling in, and so far, so good, but we have a long, long way to go.

Stocks had a mixed close on Friday with tech leaving the field dejected, because stocks also go down sometimes 😉. Three weeks of declines for the S&P500 leaves investors in the lurch, wondering if earnings can be the ointment needed to ease the pain.

Stocks suffered another weaker session, with a marginally mixed close. Early gains could just not stick and all attempts at recovery were thwarted – a sign of technical weakness.

Stocks had another rough session yesterday as traders come to grips with a Fed that is in no rush to make life easier. The Fed’s Beige Book was filled with stories of moderate growth, supporting both sides of the rate-cut debate.

Stocks could not manage a broad, positive close yesterday as investors could not get the Fed fear out of their bones. Construction on new homes declined by nearly -15% in March and permits, a leading indicator, also dipped.