Stock Market Today: December 11th - 15th, 2023

Top of the morning StonkForumers! Happy Thursday 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 over an hour from the US cash market open.

GLTA on this Thursday, December the 14th, 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 new trading day ahead!

 

Morning Lineup - 12/14/23 - Follow Through
Thu, Dec 14, 2023

US markets are experiencing a bit of follow-through this morning following the monster rally in stocks and bonds yesterday afternoon. While the Fed was the main event for the week, the ECB just announced no change in rates but moved forward its target date for when it expects to reach 2.0% inflation. Besides the ECB, there are several other central banks announcing decisions today as well. With the Fed now officially on hold, good economic news can be viewed as good again while the market may not be quite as receptive to soft data. We got the first test this morning with Retail Sales (higher than expected), Jobless Claims (lower than expected), and Import Prices (lower than expected) at 8:30 followed by Business Inventories at 10:00. In reaction to this first batch of reports, futures have seen little in the way of a reaction in either direction.

After a cruel summer sell-off that kicked off in August and all but erased the enchanted rally that spanned the months of May, June, and July, the market found itself in a delicate position in late October as the uptrend from the bear market lows in 2022 that we all remembered all too well were being tested. Right around Halloween, all bulls could think was, is it over now?

In reaction to yesterday’s explicit pivot from Fed Chair Powell on interest rates, treasury yields have plunged, crossing some important milestones in the process. We’ll start at the short end of the curve. With the 2-year yield plunging 30 basis points (bps) yesterday, its closing level was 4.43% which is the same level it started the year at. This morning, the 2-year yield is down an additional 10 bps which also puts it within just a couple of basis points of being flat on a year/year basis as well.



The 10-year yield fell 18 bps yesterday to close at 4.02%, and this morning it’s down another eight bps to 3.94%. As shown in the chart below, that’s still up slightly on the year, but crossing below the 4% boundary is an important psychological barrier.



What’s also notable about the decline in the 10-year yield this morning is that it is now down more than 100 bps from its recent closing high on 10/19. Since the FOMC first started talking about hiking rates back in late 2021 the current decline is the largest we have seen to date.

 

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, December 14th, 2023.

 

Top of the morning StonkForumers! Happy Friday to all of you and welcome to the final trading day of the week and a frrrrrrrrrrrresh start. Here is a quick check on those futures as we are a little over an hour from the US cash market open.

GLTA on this Friday, December the 15th, 2023!

 

Good Friday 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 trading day of the week ahead today!

 

Here is a quick peak at today's econ events stateside to close out the week:

 

Here is a look ahead to next week's earnings calendar courtesy of Reddit's WSB:

 

Morning Lineup -- 12/15/23 -- V Bottoms
Fri, Dec 15, 2023

US equity futures are once again set for a higher open this morning, with small-caps leading the way. Speaking of small-caps, the Russell 2,000 didn't make a new all-time high yesterday like the Dow or the S&P 500 Total Return index, but it did make a new 52-week high. In case you missed this stat in last night's Closer, it took just 48 days for the Russell 2,000 to go from a 52-week low to a 52-week high. Remarkably, that was the shortest turnaround time ever for the Russell to go from 52-week low to 52-week high!

 

Here is a final look at today's market and futures maps, as well as how each sector performed individually at the close on Friday, December 15th, 2023.