Evening Market Recap - Wednesday, 15-Jul

Evening Market Recap - Wednesday, 15-Jul

US equities were higher in Wednesday trading. Breadth was positive, though the equal-weight (RSP) trailed the cap-weighted index by over 50 bp. Momentum was under pressure again as SOX reversed its Tuesday's gains, with no help from positive ASML results.

Evening Market Recap, Tuesday 14-Jul

US equities were mostly higher in Tuesday trading. The rate rally on a cooler June CPI was a positive for risk sentiment, offering some pushback against the recent hawkish lean in Fed narrative. The momentum bounce was another tailwind following the latest unwind pressure that continued to be largely chalked up to technical dynamics.

Evening Market Recap, Monday 13-Jul

US equities were lower in Monday trading as stocks ended a bit off their worst levels. Another big momentum selloff was the focus of the day, following a weak Asia session overnight. Similar to the momentum unwind that preceded last week's stabilization, there was no notable fundamental catalyst for the move

Weekly Market Recap - Friday, 10-Jul

Major US indices were mixed this week, with the S&P and Nasdaq both rising for the fourth time in the past five weeks. The week saw some stabilization in the momentum trade. June ISM Services was in line with consensus.

Evening Market Recap - Thursday, 9-Jul

US equities were higher in Thursday trading, with the S&P 500 and Nasdaq now on pace for weekly gains. Momentum was again the big driver in a continuation of Wednesday's rebound. The broadening-trade was back in evidence after yesterday's narrowly focused gains, with the RSP not far below another fresh record close.