Stock Market Today: April 3rd - 7th, 2023

Here is a final look at today's market and futures maps, as well as how each sector performed individually at the close on Tuesday, April 4th, 2023.

 

Top of the morning StonkForumers! Happy Hump Day to all of you and welcome to the new trading day and a frrrrrrrrrrrresh start. Here is a quick check on those futures as we are a little under 2 hours from the cash market open.

GLTA on this Wednesday, April the 5th, 2023!

 

Good Wednesday morning StonkForumers!

Here is this morning's pre-market news thread for those of you wanting to get a quick read before today's open-
<-- click there to read!

Hope everyone has a great trading day ahead!

 

Morning Lineup - 4/5/23 - The Streak Ends
Wed, Apr 5, 2023

Futures are indicating another weaker open this morning after this morning's weaker-than-expected ADP Private Payrolls report. In what is a big week for employment data, we're currently 0-2 (weaker than expected JOLTS and ADP) with jobless claims on deck tomorrow and the Non-Farm Payrolls report n the hole on Friday.

September 20th, 1998, seemed like just a normal night in Baltimore. Heading into the last home game of the season, the Orioles were just two games over .500 and out of the post-season with only the Devil Rays separating them from last place. For most fans, the only reason to go to the game was that they were playing the Yankees who were having one of the best regular seasons of all time and on their way to sweeping the Padres in the World Series. Plus, it was a good weather night for baseball with temperatures in the high 60s. What fans heading into Camden Yards that night was that they would leave with an unforgettable memory. No, it wasn’t bobblehead night. It was even better as one of the most iconic records in sports came to an end as Cal Ripken pulled himself from the lineup and ended his iron-man streak of 2,632 consecutive games.

Compared to the environment three years earlier when Lou Gehrig’s ‘unbreakable’ streak of 2,130 games that stood for 56 years was broken, there wasn’t much celebration around the end of Ripken’s streak. The Yankees did come out of the dugout to tip their cap to Ripken and the fans gave him a standing ovation and two curtain calls. But while the whole country watched as Ripken broke the streak in 1995, most Americans didn’t find out about the streak ending until the next morning. The Orioles ended up losing 5-4 as ‘El Duque’ notched his 11th win and the 107th for the Yankees.

In the markets yesterday another record streak ended with even less fanfare than Ripken’s, and chances are that even the morning after, you never even knew about it. After yesterday’s weak economic data, the 10-year yield finished the day at 3.34% which was its lowest close since early last September, marking the first time that the 10-year Treasury yield closed at a six-month low since – wait for it – August 2020! That 664-trading day stretch without a six-month closing low in the 10-year yield was the longest streak in the history of the data going back to at least 1962.

Admittedly, this was a much more obscure streak than Gehrig’s ‘unbreakable’ streak that stood in place for 56 years, but it was something that hasn’t been done in at least 61 years. Also, when you think about it, a run in the 10-year yield that kept it from closing at a six-month low for nearly three years definitely had more of a real-world impact on the lives of Americans (and people around the world for that matter) than any streak of Gehrig’s, Ripken’s, or anyone else who follows them.

 

Here is a final look at today's market and futures maps, as well as how each sector performed individually at the close on Wednesday, April 5th, 2023.

 

Top of the morning StonkForumers! Happy Thursday to all of you and welcome to the final trading day of this week and a frrrrrrrrrrrresh start. Here is a quick check on those futures as we are a little under 2 hours from the cash market open.

GLTA on this Thursday, April the 6th, 2023!

 

Good Thursday morning StonkForumers!

Here is this morning's pre-market news thread for those of you wanting to get a quick read before today's open-
<-- click there to read!

Hope everyone has a great final day of this week ahead today!

 

Morning Lineup - 4/6/23 - Quiet Heading Into The Weekend
Thu, Apr 6, 2023

It hasn’t been an especially good week for economic data so far with notable weakness in employment-related data. Besides the JOLTS and ADP reports which were weaker than expected, the employment component of the ISM Manufacturing report was the lowest in over two years while the employment component of the Services report declined relative to February and is barely clinging to positive territory. Initial Jobless Claims were also just released and came in at 228K relative to expectations for 200K. Continuing Claims were 1.823 mln versus forecasts for 1.7 mln. Initial Claims were the highest since last December while Continuing Claims were the highest since December 2021 So, you can add more weak employment data to this week's pile. In reaction to the report, futures saw a modest tick lower but nothing major.

All of these indicators are a sideshow, though. Tomorrow’s Non-Farm Payrolls report will either confirm the weakness we have seen in these indicators or render them irrelevant (for a few days at least). Unfortunately, the equity market will be closed for the main event in observance of Good Friday. Bond markets will be open, and lately, they’ve been more volatile than the stock market anyway, so don’t think there won’t be any fireworks. And if that isn’t enough for you, crypto never sleeps!

Open or closed tomorrow, we’ll be watching to see if another epic streak can continue or come to an end. Monthly Non-Farm Payrolls have come in better than expected for eleven straight months, so a better-than-expected report would make it a full year. Never before has the been a streak that long or for that matter even half as long.

 

Here is a final look at today's market and futures maps, as well as how each sector performed individually at the close on Thursday, April 6th, 2023.

(T.B.A. After Today's Market Close.)