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Stocks slipped yesterday as bond traders cried “is the 10-year yield an April fool’s joke or something” – it was no joke. Manufacturing had a good month and spooked investors into believing that the Fed will never, ever cut rates again… ever 🥵.

Stocks closed out the quarter on a high note last Thursday after a quarter filled with reality checks on rates and surprise gifts from the strong US economy. Inflation cooled last month according to a Good Friday inflation number, delivered while markets rested.

Stocks rallied to new highs yesterday as investors set their sights on today’s quarter end. Fed governors continue to ply the markets with the “we’re in no rush” mantra.

Stocks fell yesterday, giving up earlier gains late in the session as traders became bored with a lack of any news. Consumer confidence is waning according to the latest report from the Conference Board – it could spell future trouble for GDP.

Stocks pulled back yesterday, dragged down by technology shares as the EU takes aim at the winners. New Homes Sales slowed unexpectedly in February showing that the road to recovery is not a straight path.

Stocks traded lower Friday, but for some mega cap tech stocks which were unwilling to give up ground. Traders took a break after a busy week of whipping and driving, accentuated the directionless equities in Friday’s session.