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***These are “some” excerpts from tonight’s subscribers post. All of the major indices closed lower and at or near their worst levels of the day on heavy volume. The first half of the day Mega cap losses were having an outsized impact on index performance while the “rest” of
There was not a lot of conviction on either side of the tape today with the Fed tomorrow, plus we get other tier 1 economic data and the second half of the Treasury RFA, and some important earnings after the bell. While there wasn’t a lot of conviction, there were
The Advance Q4 GDP report showed that real GDP rose 3.3%, well above the consensus estimate of 2.0% (last 5.2%; revised down to 4.9%) and even above the highest Wall Street estimate of +2.5%. That’s a 5 sigma beat of consensus and makes you wonder how everyone on Wall Street
While this morning’s headline Payrolls report came in stronger than expected at 216k jobs added (Wall Street’s consensus estimate= 175k), which is stronger than the estimates of 65 of 67 Wall Street estimates that made up the consensus view, if you dig into the report (which most of Wall Street
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