What's Actually Priced In?
According to the latest PCE price index data out this morning, U.S. households reduced their spending in December, bolstering the argument that an economic slowdown is near. Stock markets rallied on t...
27 Jan 202334min
Recession: Past, Present, or Future?
U.S. economic growth rose 2.9% in Q4 2022, down 0.3% from the prior quarter but stronger than forecasts. Markets rallied on the news, as some investors saw cooler-but-growing GDP as proof that a soft ...
26 Jan 202336min
The Options Market Has a Message
It’s been a roller coaster day for U.S. equities, as stocks plummeted after Microsoft issued weak forward guidance on its earnings call. But as of this writing, indexes have erased those early losses ...
25 Jan 202338min
When Will the Green Shoots Narrative End?
U.S. equities were flat today as investors weigh dual uncertainties: earnings season and a potential recession. Meanwhile, energy and interest rates both closed in the red, and business conditions con...
24 Jan 202337min
Is This Stock Breakout a Fake-out?
The U.S. stock market rallied to start the week, with the Nasdaq Composite leading the way after a slew of job cuts from major tech companies entering earnings season. Both the Nasdaq and the S&P 500 ...
23 Jan 202337min
Is This the End of US Dominance?
Turkey has been the best-performing equity market in the world in dollar terms in 2022. Meanwhile, the Mexican peso and the Brazilian real have been among the strongest currencies against the buck thi...
22 Jan 202354min
Why Consumer Prices Will Plummet (And How to Play It)
In the inaugural episode of Steno's Signals, Andreas walks us through why inflation will fall fast in the first quarter of this year, why that might not be a broad-based sign to buy equities—especiall...
21 Jan 202324min
Is it Time to Take Profits?
Stocks rallied back on Friday but are still down on the week as another large round of job cuts hits the technology sector. In today’s extended version of the Daily Briefing, Jared Dillian joins Maggi...
20 Jan 202334min
