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Market Pulse: Daily Insights on Financial Trends and Corporate Performance

Don Selkin, Newbridge Chief Market Strategist, has contributed to CNBC for 40+ years

Don Selkin, the innovator behind the "Fair Value" numbers, has been a trusted contributor to CNBC and its predecessor for over 40 years, consistently providing these numbers daily without fail. He has also supplied the fair value for Nasdaq 100 futures since 1996 and Dow Jones stock index futures since 1997. Quoted in prominent publications such as Bloomberg News, New York Post, Reuters, and The New York Times, Selkin's insights are highly regarded in the financial industry. His Fair Value numbers are featured in the U.S. Futures Report on CNBC every day before the market opens, with "Newbridge Securities" as the source. Additionally, Newbridge Securities offers in-depth access to Selkin's financial market views to its professionals, their clients, and the public.

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Latest Insights

Daily Market Notes - December 20, 2024

In what turned out to be a weaker session after the major indices could not hold large early gains, the market ended mostly lower with only the Dow eking out a nominal gain of only 15 points after being ahead by 461 on the opening. It was helped by AMZN, AAPL, NVDA in addition to BA, GS, IBM and V.

Donald Selkin, Chief Market Strategist

December 20, 2024

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5 min read

Daily Market Notes - December 19, 2024

How many times have I said that on Fed days, unless you have something to do early on, that it pays to wait until Fed Chair Powell makes his presentation before getting a better sense of what is going to happen from 2pm into the close. And I hope those who followed this advice did better than those who might have bought early because from a session where the Dow had the nerve to try to break its nine historic losing days in a row and the S&P and Nasdaq were trying to end positive as well, the market unfortunately made one of the most miserable showings in history from that time into the close.

Donald Selkin, Chief Market Strategist

December 19, 2024

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5 min read

Daily Market Notes - December 18, 2024

We are living through history here as the Dow set a record as it declined for the ninth straight session for the first time since 1978 and led the way lower for the market. Tis pathetic performance resulted in a 267 loss down to 43,449 and was led by UNH (and what else is new?), CAT, CRM, GS, HD and HON after its recent up-day.

Donald Selkin, Chief Market Strategist

December 18, 2024

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5 min read

Daily Market Notes - December 17, 2024

The market yesterday did what it has done so often lately, namely the pathetic Dow falling for the eighth straight session and the last time that this took place was back in 2018 while the Nasdaq achieved another new record high on strength in most of the large technology stocks.

Donald Selkin, Chief Market Strategist

December 17, 2024

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5 min read

Daily Market Notes - December 16, 2024

The market ended the week on Friday in a pattern that has become more familiar, as now for 10 straight days, more stocks have declined than risen, which is the longest such streak since 2000.

Donald Selkin, Chief Market Strategist

December 16, 2024

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5 min read

Daily Market Notes - December 13, 2024

The recent corrective phase of the market continued yesterday, as various economic reports were used to explain the selloff, which was the eighth out of nine for the Dow and now the S&P is down by four of the last six sessions.

Donald Selkin, Chief Market Strategist

December 13, 2024

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5 min read

Daily Market Notes - December 11, 2024

In another sign of near-term weakness in the market, the S&P underwent its first back-to-back losses in nearly a month and the Dow declined for the sixth time in the past seven sessions, so things are showing signs of investors taking profits in many of the stocks that have led the strong rally this year.

Donald Selkin, Chief Market Strategist

December 11, 2024

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5 min read

Daily Market Notes - December 10, 2024

I had pointed out that the VIX had very good support at around the 13 level which it closed slightly under on Friday. So this strong area finally held today and pushed the market lower as it went higher.

Donald Selkin, Chief Market Strategist

December 10, 2024

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5 min read

Daily Market Notes - December 9, 2024

With the help of a benign monthly jobs report which lowered interest rates and increased the chances of further Fed rate reductions at the next meeting on December 18th, stocks rose to records Friday after data suggested that the jobs market remains sold enough to keep the economy going, but not so strong that it raises immediate worries about inflation.

Donald Selkin, Chief Market Strategist

December 9, 2024

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5 min read

Daily Market Notes - December 6, 2024

The huge rally for stocks lost momentum on Thursday as investors waited for the big jobs report that is coming at 8:30am today. The crypto market had more action, and bitcoin briefly broke to a new intraday record of $104,550 before pulling back to end slightly lower.

Donald Selkin, Chief Market Strategist

December 6, 2024

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5 min read

Daily Market Notes - December 5, 2024

Once again, the newfound strength in the large technology leaders helped propel the S&P and Nasdaq to further new records yesterday. And for the first time this week, the Dow finally contributed to the upside with a large gain of 308 to 45,014 motivated by a huge earnings-related move in CRM, plus nice gains in AMZN, IBM, MSFT and NVDA and notice what group these ones belong to.

Donald Selkin, Chief Market Strategist

December 5, 2024

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5 min read

Daily Market Notes - December 4, 2024

For the second session in a row, the market was dominated by the traditional leading large technology stocks to the upside and finished neutral as the Dow once again suffered under some selling in CAT, HON, JNJ, PG, UNH and V. As a result, it ended lower by 76 down to 44,705.

Donald Selkin, Chief Market Strategist

December 4, 2024

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5 min read

Daily Market Notes - December 3, 2024

The market started the new month of December with a day of trading similar to the earlier type of method that began the rally months ago, namely of the large technology stocks leading the way as the broader market lagged to a certain extent.

Donald Selkin, Chief Market Strategist

December 3, 2024

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5 min read

Daily Market Notes - December 2, 2024

The month of November ended on Friday during the holiday-shortened Thanksgiving time period with a strong gain as the Dow gained 188 points to 44,910 led by advances in BA, SHW, GS and HON. It was the 47th record high close for this index.

Donald Selkin, Chief Market Strategist

December 2, 2024

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5 min read

Daily Market Notes - November 27, 2024

In another astounding upside day, the Dow turned a 310 point morning loss into a closing gain of 123 to its best ever close at 44,860. It was finally led in this process by the old-time large technology stocks which have not done so great lately, bur finally caught the wind at their backs for a change, and this included AMZN, MSFT, AAPL plus CRM.

Donald Selkin, Chief Market Strategist

November 27, 2024

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5 min read

Daily Market Notes - November 26, 2024

Stocks rose again on Monday, and were led by those that can benefit from the most from lower interest rates and a stronger economy leading the way.

Donald Selkin, Chief Market Strategist

November 26, 2024

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5 min read

Daily Market Notes - November 25, 2024

The market did very well last Friday as the Dow reached another record high while the other indices lagging somewhat except for the Russell 2000 of small stocks.

Donald Selkin, Chief Market Strategist

November 25, 2024

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5 min read

Daily Market Notes - November 22, 2024

The market climbed once again yesterday based on some better earnings from a few companies, as for instance the Dow did the best with a strong 462 point gain to 43,870 led by the likes of AXP, CRM, SHW, GS, HD, IBM and JPM which was downgraded the day before.

Donald Selkin, Chief Market Strategist

November 22, 2024

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5 min read

Daily Market Notes - November 21, 2024

In a day when the major indices were really down in the dumps for most of the session, things came back nicely very late for no apparent reason and ended positive to mixed, and how do you like that?

Donald Selkin, Chief Market Strategist

November 21, 2024

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5 min read

Daily Market Notes - November 20, 2024

In one of the most dramatic upside turnarounds ever, the market ended mainly higher after a very depressing sharply lower opening supposedly based on worries about escalations in the Ukraine- Russia war. Indexes sank across Europe after Russia said Ukraine fired six U.S.- made ATACMD missiles at it. Earlier in the day, Russian President Putin supposedly lowered the threshold for Russia’s use of its nuclear weapons. This sounded like an empty threat which the market eventually came to realize.

Donald Selkin, Chief Market Strategist

November 20, 2024

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5 min read

Daily Market Notes - November 19, 2024

After last week’s sharp slide, many U.S. stocks did better to start the new week with the Dow being the only index to end lower, down by 55 to 43,389 as it did make brief forays into positive territory but could not hold itself there. Negative trading in AMGN again, CRM, SHW, GS and UNH helped keep the downside pressure on.

Donald Selkin, Chief Market Strategist

November 19, 2024

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5 min read

Daily Market Notes - November 18, 2024

After a huge runup in the days following the election, things came crashing down on Friday for the worst week since September and the fourth day in a row lower for the Nasdaq.

Donald Selkin, Chief Market Strategist

November 18, 2024

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5 min read

Daily Market Notes - November 15, 2024

The market did poorly yesterday, which continues the recent pattern of equities showing some resistance after their recent tremendous move higher, especially after the recent election.

Donald Selkin, Chief Market Strategist

November 15, 2024

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5 min read

Daily Market Notes - November 14, 2024

The market ended yesterday in a mixed fashion, with the S&P once again failing around the 6015 while the Dow ended higher and the Nasdaq ended lower.

Donald Selkin, Chief Market Strategist

November 14, 2024

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5 min read

Daily Market Notes - November 13, 2024

After five straight huge upside sessions, the market cooled off yesterday as the VIX got to a low level and the resistance over 6,000 in the S&P made itself known for the time being.

Donald Selkin, Chief Market Strategist

November 13, 2024

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5 min read

Daily Market Notes - November 12, 2024

Once again, the major indices rose to start the new week, with the Dow, S&P and Nasdaq attaining their best ever levels, as the leaders once again were those that are seen as benefiting the most from the new President’s agenda, but drops for some high-profile Big Tech stocks kept indexes in check.

Donald Selkin, Chief Market Strategist

November 12, 2024

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5 min read

Daily Market Notes - November 11, 2024

The market ended the best week in a year last Friday as the upside momentum created after the election continued for another day.

Donald Selkin, Chief Market Strategist

November 11, 2024

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5 min read

Daily Market Notes - November 8, 2024

Once again, this upside rally continued for the third day yesterday with the S&P and Nasdaq achieving further new record highs once again.

Donald Selkin, Chief Market Strategist

November 8, 2024

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5 min read

Daily Market Notes - November 7, 2024

In a stunning upside follow-through to Tuesday’s huge upside move, the Dow, S&P and Nasdaq all pushed to new all-time highs yesterday, as various parts of the market reacted to the final election results from the day before.

Donald Selkin, Chief Market Strategist

November 7, 2024

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5 min read

Daily Market Notes - November 6, 2024

Finally, the market opened higher yesterday and was able to go the distance and ended on a very high note on the day of the election. Usually the market tended to come lower after a start of this type, so I assume that it anticipated what would happen today.

Donald Selkin, Chief Market Strategist

November 6, 2024

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5 min read

Daily Market Notes - November 5, 2024

Ahead of two momentous events this week, the market once again what it has done very often recently, namely to finish lower than where it was in the morning.

Donald Selkin, Chief Market Strategist

November 5, 2024

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5 min read

Daily Market Notes - November 4, 2024

After last Thursday’s downside wipeout, which ended the Dow and S&P monthly winning streaks of five and the Nasdaq’s seven week positive streak, and the first two items for the second lower week in a row, the market made a comeback on Friday.

Donald Selkin, Chief Market Strategist

November 4, 2024

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5 min read

Daily Market Notes - November 1, 2024

After Wednesday’s weak close, the market once again underwent a “high tech is high wreck” situation yesterday as the downside of high expectations thumped those stocks on Thursday, and MSFT and META dragged stock indexes lower despite delivering strong profits for the summer.

Donald Selkin, Chief Market Strategist

November 1, 2024

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5 min read

Daily Market Notes - October 31, 2024

In what had to be one of the worst intraday negative turnarounds for the major indices, they all ended lower after having been strongly higher in the late morning. And this fading out into the close has been a bit of a feature lately, namely ending much lower than the best levels of the session.

Donald Selkin, Chief Market Strategist

October 31, 2024

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5 min read

Daily Market Notes - October 30, 2024

In another mixed day for the markets, there were all kinds of discrepancies with the Dow ending lower by 154 points to 42,233 as CAT, CVX, HD, JPM, TRV, and UNH all went lower while the S&P ended 9 points higher to 5833 even though the majority of stocks in this index were negative. This pattern was something we had seen earlier this year as strong gains by major technology stocks overwhelmed the others. This was most noticeable in the Nasdaq which ended higher by 145 to 18,712 at a record as gains in META, MSFT, AVGO, NFLX, AMZN plus others all did well.

Donald Selkin, Chief Market Strategist

October 30, 2024

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5 min read

Daily Market Notes - October 29, 2024

The market continued to move higher yesterday to start a very important week but once again, it sort of faded a bit into the close.

Donald Selkin, Chief Market Strategist

October 29, 2024

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5 min read

Daily Market Notes - October 28, 2024

The market ended widely mixed on Friday after the Dow got hit for a 260 point decline down to 42,114 and this was due to selling in GS, HD, IBM again, MCD and TRV while the S&P turned a 50 point early gain into a nominal closing loss of 2 points to 5808 mainly due to weakness in the large financials mentioned above.

Donald Selkin, Chief Market Strategist

October 28, 2024

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5 min read

Daily Market Notes - October 25, 2024

The market ended in a mixed finish yesterday as the Dow went lower because of negative results from a few components while the Nasdaq did well mainly on the best showing for beaten-down TSLA in 11 years.

Donald Selkin, Chief Market Strategist

October 25, 2024

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5 min read

Daily Market Notes - October 24, 2024

In discouraging market behavior, the Dow and S&P fell for their first three-day losing streaks since early September. They were coming off two losses since setting all-time highs on Friday, and the pullback follows a superb run where the indices had rallied to six straight winning weeks, the longest such streak of the year.

Donald Selkin, Chief Market Strategist

October 24, 2024

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5 min read

Daily Market Notes - October 23, 2024

Even though the main stock indexes ended with very small changes at the end of the session yesterday, there was plenty going on within the indices themselves.

Donald Selkin, Chief Market Strategist

October 23, 2024

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5 min read

Daily Market Notes - October 22, 2024

Even on days when things start out sharply lower and end mainly down, there are always bright spots on the horizon, as per yesterday when the stock indexes mainly remained lower, there was a strong bright spot when some influential large-cap technology stocks really did well. And as a result, the Nasdaq actually ended higher with the most important stock of all, NVDA, breaking through its long-time resistance level of 140 and busting well above that price.

Donald Selkin, Chief Market Strategist

October 22, 2024

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5 min read

Daily Market Notes - October 21, 2024

Ho, hum once again - guess what- both the Dow and the S&P finished higher on Friday and as a result, they both ended positive for the sixth straight week, which is the longest run of weekly advances this year.

Donald Selkin, Chief Market Strategist

October 21, 2024

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5 min read

Daily Market Notes - October 18, 2024

Ho, hum – once again the market was generally able to improve off of its worst early levels yesterday and as a result, the Dow ended at another record high with a 161 point gain to 43,239 led by advances in AXP, TRV on a strong earnings report and CVX on a rebound from recent selling.

Donald Selkin, Chief Market Strategist

October 18, 2024

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5 min read

Daily Market Notes - October 17, 2024

After another awful day on Tuesday, guess what – the market yesterday did what has become a strong pattern lately, namely starting out slightly lower and then switching to end mostly higher with the Dow setting another record high closing level.

Donald Selkin, Chief Market Strategist

October 17, 2024

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5 min read

Daily Market Notes - October 16, 2024

The market got a bit of a negative comeuppance yesterday as the price of crude oil tumbled and technology stocks faltered.

Donald Selkin, Chief Market Strategist

October 16, 2024

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5 min read

Daily Market Notes - October 15, 2024

After a lower start of 80 points as indicated by the earlier stock index futures, the Dow then exploded upward yesterday to finish with a closing advance of 201 up to 43, 065 led by gains in AAPL, CRM, GS, HD, MSFT, TRV and UNH.

Donald Selkin, Chief Market Strategist

October 15, 2024

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5 min read

Daily Market Notes - October 14, 2024

Not that anyone is complaining, but on Friday to finish out a fifth straight winning week, the market started out modestly higher than then accelerated to the upside as the day moved along, resulting in a fifth straight higher week to records in both the Dow and S&P.

Donald Selkin, Chief Market Strategist

October 14, 2024

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5 min read

Daily Market Notes - October 11, 2024

U.S. stocks edged back from their records Thursday after reports showed the fact that inflation was a little warmer last month than expected and a larger number of workers filed for unemployment benefits last week.

Donald Selkin, Chief Market Strategist

October 11, 2024

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5 min read

Daily Market Notes - October 10, 2024

Please tell me how many times we have seen days like yesterday, where the major indices start out nominally higher and then proceed to pick up steam as the session moves along, with the familiar result that the Dow and S&P end at further new all-time record highs.

Donald Selkin, Chief Market Strategist

October 10, 2024

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5 min read

Daily Market Notes - October 9, 2024

After getting smoked to the downside on Tuesday on a number of technology downgrades from various brokerage houses, the market turned right around to the upside yesterday, proving that things are showing the ability to hold the higher levels in a fairly steady range.

Donald Selkin, Chief Market Strategist

October 9, 2024

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5 min read

Daily Market Notes - October 8, 2024

After a solid month of September, the first higher one in five years that ended last Monday, things got hit by the old “High tech is High wreck” syndrome unfortunately making its presence felt again yesterday.

Donald Selkin, Chief Market Strategist

October 8, 2024

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5 min read

Daily Market Notes - October 7, 2024

After a poorly-timed late selloff in the Dow and U.S. on Thursday, the market eventually made a strong upside recovery after the surprisingly strong September jobs report on Friday morning.

Donald Selkin, Chief Market Strategist

October 7, 2024

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5 min read

Daily Market Notes - October 4, 2024

Crude prices jumped Thursday on worries that increasing tensions in the Middle East could disrupt the global flow of oil, while U.S. stocks pulled back further from their records.

Donald Selkin, Chief Market Strategist

October 4, 2024

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5 min read

Daily Market Notes - October 3, 2024

After two lower days to start the fourth-quarter, the market narrowly reversed direction yesterday to end a little higher, and Treasury yields rose following an encouraging update on the job market’s strength.

Donald Selkin, Chief Market Strategist

October 3, 2024

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5 min read

Daily Market Notes - October 2, 2024

After a third-quarter which showed the Dow and S&P at all-time highs, the market went into a bad retreat to start the first day of the fourth-quart yesterday, and it looks like things can remain choppily bouncing around until this Friday’s September jobs report and then the start of the third-quart earnings season later in this month.

Donald Selkin, Chief Market Strategist

October 2, 2024

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5 min read

Daily Market Notes - October 1, 2024

The market ended higher after a choppy day on either side of unchanged and this followed a start to the week for financial markets in Asia, where Japanese stocks tumbled and Chinese indexes soared and this pattern continued what we saw for the past couple of weeks.

Donald Selkin, Chief Market Strategist

October 1, 2024

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5 min read

Daily Market Notes - September 30, 2024

U.S. stocks closed another record-setting week with a muted performance Friday, as hope built that the U.S. economy can manage the rare feat of suppressing high inflation and not causing a recession in the process.

Donald Selkin, Chief Market Strategist

September 30, 2024

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5 min read

Daily Market Notes - September 10, 2024

After last week’s disastrous start to the sometimes tricky month of September, which was historical in some sense as mentioned in yesterday’s Notes, the market tried to redeem itself on Monday to claw back some of the losses from their worst week in nearly a year and a half.

Donald Selkin, Chief Market Strategist

September 10, 2024

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5 min read

Daily Market Notes - September 9, 2024

Another rout hit the market to end a historic lower week, with formerly high-flying technology stocks again taking the brunt, after the August jobs report came in weak enough to add worries about the economy.

Donald Selkin, Chief Market Strategist

September 9, 2024

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5 min read

Daily Market Notes - September 6, 2024

As has been the pattern lately, the market could once again not hold some early gains, then spent the afternoon drifting lower before making another weak upside move very late in the day.

Donald Selkin, Chief Market Strategist

September 6, 2024

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5 min read

Daily Market Notes - September 5, 2024

After Tuesday’s downside disaster to start the week, the market tried to do better in the morning, but the current negativity took over in the afternoon and things ended lower again, except for the Dow which eked out a small late afternoon gain.

Donald Selkin, Chief Market Strategist

September 5, 2024

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5 min read

Daily Market Notes - September 4, 2024

If one looked at some old-time consumer staples stocks such as KO,JNJ, PG, UNH and V in the Dow plus some other old-timers like PEP, KMB and CL, one would have thought that one of the worst days recently was a good one, and that we were back in 1977.

Donald Selkin, Chief Market Strategist

September 4, 2024

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5 min read

Daily Market Notes - September 3, 2024

In a strange but very bullish session to close out the month of August on Friday, the market took a strange mid-day drop after starting out strong and then with around 40 minutes to go, it went into an upside overdrive to end strongly higher and ended 2.3% higher for the month. The S&P is now higher for the past four months with a powerful gain of 56 points to 5648, just short of its all-time high from early July. And it was gains in large technology stocks that led the way for a change. It is now higher by 18.4% this year and is within 0.4% of its all-time high from early July.

Donald Selkin, Chief Market Strategist

September 3, 2024

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5 min read

Daily Market Notes - August 30, 2024

After a strong start for most of yesterday, with the Dow as high as 480 points at 2pm, the S&P ahead by 54 and the Nasdaq up by 233, things went into a sharp selloff into the close. Unfortunately, we have seen this type of action before since the early July highs in the S&P and Nasdaq in the sense that they come out of nowhere as no fundamentals change during these times and they represent somewhat of a moving out of the larger technology oriented stocks into the smaller ones in the sense that the Russell 2000 Index remains positive as it did yesterday while the former large technology leaders sort of take in on the chin, so to speak.

Donald Selkin, Chief Market Strategist

August 30, 2024

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5 min read

Daily Market Notes - August 29, 2024

Stocks closed lower Wednesday as a pullback in big technology companies outweighed gains elsewhere in the market.

Donald Selkin, Chief Market Strategist

August 29, 2024

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5 min read

Daily Market Notes - August 28, 2024

After being lower by more than 100 points around mid-day, the Dow turned positive at the close and ended at a new record high of 9 to 41,259 led by gains in HON, TRV and V. This was its eighth higher day in a row during what is not usually a good month for stocks.

Donald Selkin, Chief Market Strategist

August 28, 2024

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5 min read

Daily Market Notes - August 27, 2024

After Friday’s rip-roaring upside explosion resulting from Fed Chairman Powell’s statement that interest rate cuts are on the way at the September 18th meeting, the market ended with a split decision yesterday as the Dow reached a new all-time high and the Russell 2000 Index held steady while the S&P and Nasdaq endured a selloff for whatever reason.

Donald Selkin, Chief Market Strategist

August 27, 2024

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5 min read

Daily Market Notes - August 26, 2024

After Thursday’s downside selloff after a higher start, on Friday the market finally heard from Fed Chairman Powell that interest rates are coming soon to help the economy.

Donald Selkin, Chief Market Strategist

August 26, 2024

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5 min read

Daily Market Notes - August 16, 2024

In another astounding upside day (which seems to be repeating itself lately), the market jumped to its fourth best session of the year and its sixth straight gain as the S&P is now back to within 2.2% of its all-time high after briefly falling close to 10% below it.

Donald Selkin, Chief Market Strategist

August 16, 2024

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5 min read

Daily Market Notes - August 15, 2024

The market edged higher once again yesterday after the latest update on inflation came in almost exactly as economists expected.

Donald Selkin, Chief Market Strategist

August 15, 2024

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5 min read

Daily Market Notes - August 14, 2024

In another astounding upside day, the market exploded to the upside yesterday with its third-best performance of the year as the July P.P.I. report came in better than expected, which should motivate the Federal Reserve to accelerate its interest rate lowering situation.

Donald Selkin, Chief Market Strategist

August 14, 2024

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5 min read

Daily Market Notes - August 13, 2024

In a session that showed fairly limited final results in the major indices, the market seemed a little quiet after the tremendous volatility from last week.

Donald Selkin, Chief Market Strategist

August 13, 2024

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5 min read

Daily Market Notes - August 12, 2024

After a manic week that began with Japanese stocks falling to their worst loss since 1987’s Black Monday, which was then followed on Thursday by the market putting in its best performance since 2022, things sort of calmed down on Friday to get the major indices almost back to where they began the week.

Donald Selkin, Chief Market Strategist

August 12, 2024

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5 min read

Daily Market Notes - August 9, 2024

Well, well, well – after three days of huge volatility to start the week, the market literally exploded to the upside yesterday, as the weekly jobless claims reports came in lower than expected, with a gain of 233,000 which ostensibly showed that the labor market was not as weak as had been predicted following a huge gain of 249,000 last week which was the most in a year.

Donald Selkin, Chief Market Strategist

August 9, 2024

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5 min read

Daily Market Notes - August 8, 2024

Yesterday’s horrible comedown from a really strong start was another example of the downside turmoil that investors have had to live with lately since the major indices topped out a month ago.

Donald Selkin, Chief Market Strategist

August 8, 2024

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5 min read

Daily Market Notes - August 7, 2024

What I said at the Monday morning meeting turned out to be absolutely on the mark as the VIX reached the completely unsustainable level of 66 in the early morning after the collapse of the Japanese market for the worst ever decline in its history and the panicky selling in Europe.

Donald Selkin, Chief Market Strategist

August 7, 2024

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5 min read

Daily Market Notes - August 6, 2024

In any absolute horrible session that continued with the two awful ones to end last week, the market here got spooked by a crash in Japan which swept around the world and resulted in the third horrendous session in a row here as fears worsened about a slowing U.S. economy.

Donald Selkin, Chief Market Strategist

August 6, 2024

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5 min read

Daily Market Notes - August 5, 2024

As one pundit put it after Friday’s downside wipeout, the Fed has now snatched defeat from the hands of victory. I assume that this means that instead of beginning to lower interest rates this past week, they are now way behind the curve with yields in the bond market tumbling and now they cannot do this until the next meeting on September 18th which means that the federal funds rate cut is now six weeks away.

Donald Selkin, Chief Market Strategist

August 5, 2024

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5 min read

Daily Market Notes - August 2, 2024

After the historic rally on Wednesday and a higher start yesterday, things turned around to the downside in one of the most vicious sessions this year, as the major indices collapsed once again during this tumultuous time in the markets.

Donald Selkin, Chief Market Strategist

August 2, 2024

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5 min read

Daily Market Notes - August 1, 2024

Finally, after taking all of this abuse from lovers of small-cap stocks, the former big technology leaders finally got it together yesterday with a huge upside rally that should continue today based on good earnings reports from Mag 7 member META and QCOM as well.

Donald Selkin, Chief Market Strategist

August 1, 2024

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5 min read

Daily Market Notes - July 31, 2024

After opening modestly higher, the market went into one of those – “sell large technology and buy the smaller stocks”, which resulted in a pattern that has become more frequent during the second half of the month. And that is – Dow and Russell 2000 Index of small stocks up while the S&P and Nasdaq got clobbered once again.

Donald Selkin, Chief Market Strategist

July 31, 2024

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5 min read

Daily Market Notes - July 30, 2024

Yesterday’s results to start what could be a volatile week with all of the events that are going to take place resulted in a mixed finish with the Dow lower by 49 points to 40,539 led by declines in the stocks that usually lead it on the way higher, namely AMGN, CAT, CRM and UNH while MCD made a large gain despite coming up short on both earnings and revenue, go figure. It sort of went back and forth all session long in somewhat subdued fashion. This was after it had been higher for four straight weeks.

Donald Selkin, Chief Market Strategist

July 30, 2024

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5 min read

Daily Market Notes - July 29, 2024

After three awful days for the now trailing S&P and Nasdaq, all areas of the market decided to have a strong higher day to end a mixed week.

Donald Selkin, Chief Market Strategist

July 29, 2024

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5 min read

Daily Market Notes - July 26, 2024

In what was an astoundingly volatile but ultimately disappointing day yesterday, all of the various stock market indices shot up to huge gains by 10 am and then went on their own way to consolidate what has been the recent pattern, namely the smaller stocks once again doing better than their larger counterparts.

Donald Selkin, Chief Market Strategist

July 26, 2024

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Daily Market Notes - July 25, 2024

Years ago, there was a prominent market commentator and radio personality who would say on a downside disaster like we saw yesterday – “High tech is high wreck!” and boy was this old statement true as the market took a historic downside beating.

Donald Selkin, Chief Market Strategist

July 25, 2024

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Daily Market Notes - July 24, 2024

The three major indices could not hold onto decent mid-day gains yesterday and slipped as the session came to an end, with all three of them falling into negative territory at the close.

Donald Selkin, Chief Market Strategist

July 24, 2024

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Daily Market Notes - July 23, 2024

Just when all the “experts” said to sell out of the high-flying technology stocks last week after three straight lower days, these issues came back with a vengeance yesterday to start the new week. This overall comeback came after the S&P and Nasdaq ended their worst weeks since last April, so some sort of comeback from an oversold condition was warranted.

Donald Selkin, Chief Market Strategist

July 23, 2024

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Daily Market Notes - July 22, 2024

This disruptive technology outage on Friday was the last thing that an already weakened market needed as the Dow fell by 377 points to 40,287 led by the financials on poor earnings with AXP, HON, MSFT, TRV and V all lower.

Donald Selkin, Chief Market Strategist

July 22, 2024

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Daily Market Notes - July 19, 2024

I assume that we are now in the traditional period after the best two weeks of the year which takes place in the first part of July and then becomes choppy from mid-July through mid-October and finally does well from that time until the end of the year.

Donald Selkin, Chief Market Strategist

July 19, 2024

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Daily Market Notes - July 18, 2024

One of the more astounding features of yesterday’s session saw that for the S&P, which suffered its worst one-day downside shellacking since April, slightly more stocks in the index were higher than lower despite the fact that the index itself got slammed to the tune of a 79 point decline down to 5588!

Donald Selkin, Chief Market Strategist

July 18, 2024

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Daily Market Notes - July 17, 2024

This word gets repetitive, but yesterday was another astounding day after a series of them recently, as the Dow exploded to the largest gain of the year to a new record all-time high with 742 to 40,954 led by large gains in AXP, BA, CAT, GS, HD, MCD and a huge one from UNH, the highest priced Dow stock that added more than 100 points just by itself.

Donald Selkin, Chief Market Strategist

July 17, 2024

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Daily Market Notes - July 16, 2024

For the third consecutive day in a row, the markets ended higher and traded in intraday record levels before selling off in the last hour or so to end with gains but just short of record closing prices.

Donald Selkin, Chief Market Strategist

July 16, 2024

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Daily Market Notes - July 15, 2024

After Thursday’s astounding reversal where the beaten-down Russell 2000 Index of small stocks reversed by the most ever to the upside against the S&P, things got back to a more normal situation to end the week on Friday as all four major indices ended higher and touched intraday records for the Dow, S&P and Nasdaq before falling off of those records near the close.

Donald Selkin, Chief Market Strategist

July 15, 2024

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Daily Market Notes - July 12, 2024

In what had to be described as the ultimate “Revenge of the Nerds” day, the market underwent an astounding session where the differential between the high-flying S&P and the lagging Russell 2000 reversed direction in the widest such showing in favor of the latter since the depths of the financial crisis in October 2008. And it was only the second day since 1979 when the Russell 2000 rose more than 3% while the S&P declined.

Donald Selkin, Chief Market Strategist

July 12, 2024

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Daily Market Notes - July 11, 2024

Continuing its historic run, the market hit a four-bagger yesterday as not only did the S&P and Nasdaq leap to new all-time highs, but this time the lagging Dow and Russell 2000 decided to join the upside party.

Donald Selkin, Chief Market Strategist

July 11, 2024

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Daily Market Notes - July 10, 2024

Another day, another same result with the S&P and the Nasdaq grinding to further new record all-time highs while the Dow and Russell 2000 Index of small stocks declined again, and what else is new?

Donald Selkin, Chief Market Strategist

July 10, 2024

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Daily Market Notes - July 9, 2024

Another day, another dollar as the unstoppable S&P and Nasdaq ended higher again, the former for the 35th time this year, while the Dow turned a large 279 point opening gain into a closing loss of 31 hurt by declines in CRM, MCD, hopeless NKE and V.

Donald Selkin, Chief Market Strategist

July 9, 2024

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Daily Market Notes - July 8, 2024

Another day, another dollar as the July 4th holiday weekend came to a close. And the market action was similar on both days, as things started moderately lower and finished with an upside bang, right on the market highs and this was based on the fact that investors are hoping that recent economic reports have shown a slowing of the economy with less inflationary pressures.

Donald Selkin, Chief Market Strategist

July 8, 2024

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Daily Market Notes - July 3, 2024

In another astounding upside day, the market, as we have seen so many times this year, turned a lower opening into a rip-roaring upside rally that resulted in a new record for the S&P and an additional one for the Nasdaq. And how does this action make those who felt the need to panic-sell near the end of Friday’s session look now?

Donald Selkin, Chief Market Strategist

July 3, 2024

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5 min read

Daily Market Notes - July 2, 2024

Imagine how those who felt the need to unload such stocks on Friday like AAPL, AMZN, MSFT and AVGO, sending them to their lows very late in the session, felt today when all of them made terrific gains in yesterday’s session to lead the Nasdaq to a record-high close?

Donald Selkin, Chief Market Strategist

July 2, 2024

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5 min read