Tom Petruno

Ohioan by birth, Californian by necessity. 40+ yrs tracking markets and economy, incl as LA Times financial columnist 1990-2011.

[Tom Petruno @tpetruno]

@StratsLabs @realDonaldTrump Beast City where

[Tom Petruno @tpetruno]

[email protected]

Happy Bday Joshie!

[Tom Petruno @tpetruno]

Perfect.

[Tom Petruno @tpetruno]

U.S. bond yields slide as relatively mild June inflation data boost hopes that Fed is nearly done raising rates. After recent spike,10-year Treasury yield falls to 3.86% from 3.97% Tues. https://t.co/2blP6nXXKy

[Tom Petruno @tpetruno]

Recession coming? Many industrial stocks don’t see it. The $XLI ETF of S&P 500 industrial shares rose 1.4% Mon. to a new 52-wk high. Some standouts:

Carrier $CARR +3.9%
Rockwell $ROK +3.2
WW Grainger $GWW +2.6
Ingersoll $IR +2.4
Eaton $ETN +2.3
$GE +2.2
Parker Hannifin $PH +2.2

[Tom Petruno @tpetruno]

Bond yields spike on fresh data showing US economic strength. 2-yr Treasury note hits 5.14% before pulling back. The yield was 4.0% as recently as May. U.S. June jobs data due Friday. https://t.co/RAct8c7ibU

[Tom Petruno @tpetruno]

"It's a death sentence for people and ecosystems."
https://t.co/LvZxtKNSBY

[Tom Petruno @tpetruno]

With the Fed still worried that inflation could resurge, policymakers are holding short-term interest rates well above long-term rates, seeking to slow the economy. US Treasury yields by term:

6-mo. 5.45%
1-yr. 5.42
2-yr. 4.89
3-yr. 4.52
5-yr. 4.15
10-yr. 3.84
30-yr. 3.86

[Tom Petruno @tpetruno]

Stocks were mostly higher in the first half of 2023, but big techs far outpaced most other sectors. Key indexes:

Nasdaq 100 +38.8%
Nasdaq composite +31.7
Dow transports +16.0
S&P 500 +15.9
S&P midcaps +7.9
Russell 2000 smallcaps +7.2
S&P smallcaps +5.1
NYSE avg. +4.6
Dow 30 +3.8

[Tom Petruno @tpetruno]

Lucky 13 for $TSLA? https://t.co/v6zxXV7vOm

[Tom Petruno @tpetruno]

OPEC is nervous as crude prices slide again, despite the cartel’s output cuts. A sign of global econ weakness? https://t.co/WC2peRczF0

[Tom Petruno @tpetruno]

Get out the confetti: By one measure a new bull mkt has begun https://t.co/vvbiBAMigb

[Tom Petruno @tpetruno]

@TraceyRyniec Haha!

[Tom Petruno @tpetruno]

Boom to bust: Oil and gas in the 1980s. The dot-com craze in the 1990s. Housing in the late-2000s. Now AI stocks?

“Please God, just give me one more investing mania, and I promise not to be greedy next time.”

[Tom Petruno @tpetruno]

Stocks’ rally finally broadened after Thursday’s tech-centered surge.

Dow ends +328, +1.0%, as talks continued toward a debt-ceiling deal in Washington. S&P +1.3%.

But Nasdaq jumped 2.2% as investors scrambled to buy anything AI-related.

For wk:
Nasdaq +2.5%
S&P +0.3
Dow -1.0

[Tom Petruno @tpetruno]

After the Fed-powered surge in interest rates over the last 12 months, individual investors are pouring cash into fixed annuity contracts. https://t.co/3wFNbPXD4a

[Tom Petruno @tpetruno]

“This just shows you how close to the abyss we’re getting,” said TD Securities strategist Gennadiy Goldberg. “While some in Congress question the Treasury’s math, I think the cash balances speak volumes: we’re going to be going over the cliff very soon.” https://t.co/yrUYMAkJOO

[Tom Petruno @tpetruno]

You call this a bull mkt?

While tech soars again Thurs:

NYSE stocks up: 1,032
NYSE stocks down: 1,936

Nasdaq stocks up: 1,486
Nasdaq stocks down: 3,023

New 52-wk highs: 107
New 52-wk lows: 339

S&P 500 stock sectors up: 5
S&P 500 stock sectors down: 6

[Tom Petruno @tpetruno]

Chip titan Nvidia’s stock surge Thurs. lifted other key tech shares on hopes for booming demand for artificial intelligence computing. Some big winners:

$NVDA +24.4%
$MPWR +17.5
$TSM +12.0
$AMD +11.2
$AVGO +7.3
$AMAT +7.2
$ORCL +6.1
$MKSI +6.1
$MSFT +3.8
$GOOGL +2.1

Nasdaq +1.7

[Tom Petruno @tpetruno]

Boom! https://t.co/DmaII1m4P3