The opinions expressed below are my own and do not necessarily represent those of Visdom Investment Group, LLC.
No bonds, No action
Markets were quiet today. Maybe the closed US bond market had something to do with that. Maybe the headlines over the weekend were just tame. Regardless, capital flow was very light at 71%. Whether we correctly identified the reason is not too important. What’s important is that investors were on the sidelines today. The S&P moved very little during the session and closed slightly lower.
We are left wondering about what will motivate investors to act. Tomorrow could give us a couple of good reasons. For one, the bond market reopens and stocks can take cues from the changing rates. For another, the earnings season for the S&P 500 starts tomorrow morning. I think investors want to see some of the latest corporate results and guidance before they push capital in meaningful ways.
Let’s see. Some notable reporting stocks tomorrow morning are UNH, JNJ, WFC, JPM, GS, and C.
See you tomorrow.
-Mike
Visdom Market Commentary
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