Tech 5: OpenAI Closes on US$6.6 Billion in Funding, Cerebras Files for IPO
Geopolitical tension clashed with uplifting jobs data, making for an interesting week on Wall Street. Meanwhile, the crypto market went on a wild ride along with the greater stock market, and the US Securities and Exchange Commission (SEC) revived a
Jobs Soar Past Estimates, But What Happens Next?
This morning, September nonfarm payrolls soared past expectations, 254,000 vs. 132,500. Adding to the bullishness was the upward revision to August nonfarm payrolls as the prior reading of 142,000 was boosted to 159,000. This is solid news, especially
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What More do the Bulls Want?
It is a bull market for stocks. On the chart below, the S&P 500 SPDR (SPY) recently broke rim resistance of a cup-with-handle pattern and is trading near a 52-week high. The S&P 500 EW ETF (RSP) recorded a new
Does the Market Have Bad Breadth?
As a bull market reaches an exhaustion point, market breadth indicators often tend to diverge from the price action of the benchmarks. This “breadth divergence” occurs as leading names begin to falter, and initial selling drives some stocks down to new
Stocks Soar, Energy Prices Spike: Are Geopolitical Tensions to Blame?
After Friday’s stellar jobs report—254,000 jobs added in September vs. the Dow Jones forecast of 15,000—stocks and Treasury yields initially reacted with a big jump. The data confirms the strength of the labor market and the US economy. Let’s not forget,
Stealth AI Stocks Are Taking Off in a Flat Market
In this StockCharts TV video, Mary Ellen highlights the continuation rally in AI-related stocks while also reviewing broader market conditions. The move higher in yields as well as volatility were discussed heading into next week’s FOMC notes and inflation data. This video
Taiwan official warns China, Russia, Iran ‘working together’
Taiwan’s de facto U.S. ambassador is warning that China, Iran and Russia are forming an ‘alliance’ that the rest of the world should be ready for. It comes days after Secretary of State Antony Blinken said the three autocratic countries were
State Dept. officials hinted at Israeli ‘war crimes,’ pushed Gaza aid days after Oct. 7 Hamas attack: report
Newly revealed emails show senior military officials raised concerns with the White House within days of Israel commencing its operation in Gaza. Reuters obtained and examined emails between senior State Department and Pentagon officials between Oct. 11-14 that showed concern and
Former NIH official accused of making emails ‘disappear’ pleads Fifth to COVID subcommittee
Former National Institutes of Health employee Margaret Moore, accused by Republicans of helping others shield emails from the public, invoked her Fifth Amendment right to avoid self-incrimination at a deposition before the House Select Subcommittee on the Coronavirus Pandemic Friday. Moore,