David Moenning

Are Bonds Crossing The Line In The Sand?

When stocks enter what I like to call "melt up" mode, everything is right with the world. The economic data is strong. Earnings are fantastic. Inflation is low. Consumers are happy and shopping. Employers are hiring. In short, things look good as far as the eye can see. Having bee…

Is The Most Hated Market Now The Most Loved?

At this time last year, many referred to the current bull market as "one of the most hated" in history. There was a host of things to worry about and if memory serves, many prominent analysts opined that there was no justification for the joyride to the upside that was occurring. Oh, and …

Bulls On The Run

The "State of the Markets" With the S&P 500 up 2.6% so far in 2018, it appears that, barring an unforeseen disaster today, the market will wind up with a gain for the first five trading days of the new year. And as the saying goes, "As the first five days of the year go, so …

File This Jobs Report in the Goldilocks Category

If it's the first Friday of the month, it must be jobs day. The Labor Department reported that the economy added 148,000 jobs in December, which was well below the expectations for 190,000 new jobs. December's total was also below November's torrid pace of 252,000, which was revised up fr…

Could Good News Become Bad Again Soon?

To be sure, inflation does not appear to be a major threat to the economy at this point in time. And as a quick aside, when I began in the business in early 1980, the "problem" was too much inflation, not too little. Thus, I've found all the hand wringing about inflation failing to meet c…

Can The Bears Find Their Long-Lost Mojo?

The "State of the Markets" As we embark on a fresh new calendar year (aka the scorecard in our business), the question of the day is – in my mind, in my mind, anyway – will the bears will be able to locate their long-lost mojo anytime soon? To be sure, it has…

Yellen's Task Is To...

With summer vacation season winding down and the Fed's symposium getting underway in Jackson Hole, it is safe to say that those traders at their desks this week are waiting to hear what Janet Yellen has to say on Friday before making any major commitments here. To review, Ms. Yell…

Jobs Report Surprises to the Upside

All eyes are on the labor department this morning as the "big kahuna" of economic data - aka the Jobs Report - showed that the economy created 255,000 new jobs in the month of July. In market vernacular, this was an upside surprise as the consensus had been for total job creation to come …

Carney Drags Out The Bazooka

The big news this morning is the "bazooka firing" by the Bank of England. With the economic data across the pond having been surprisingly weak since the BREXIT vote, the BOE was forced to reduce its growth estimates by the largest amount in history. In response, the bank has decided to ta…

None The Worse For Wear

Stocks have been stuck in a sideways trading range for 12 consecutive days now. What is noteworthy here is that stocks have not finished with a single move of more than +/-0.5% during this time, which is the longest such streak since 1995. History shows that this type of consolidation pha…