23Mar2:17 pmEST

Trump Tower of Babel

A pre-market Truth Social post by President Trump saw an abrupt and sharp upside reversal in equities to dovetail the downside move in oil. While the veracity of the actual content of Trump's post remains under scrutiny, as far as whether or not legitimate representatives of Iran are in communication with him working towards some type of...

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20Mar3:01 pmEST

Afternoon Update 03/20/26 {Video}

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19Mar1:43 pmEST

The Window Has Shifted

The CME Group FedWatch Tool  tracks probabilities regarding future Fed Meetings and potential changes to the Federal Funds Rate ("FFR"). We periodically update Members when we see something of note which changes expectations and can potentially impact a repricing in various asset classes, namely equities and government bonds.  In light of...

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18Mar3:28 pmEST

The Last of the Growthicans

The latest FOMC came and went, with Fed Chair Powell's presser just having wrapped up. Despite being adamant about continuing in his role if Kevin Warsh's nomination runs into issues, he also seemed befuddled about verbalizing that inflation has, in fact, been above The Fed's 2% target for five years and running. He uttered that statement a few...

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17Mar2:31 pmEST

Work Your Core After Drinking on St. Paddy's Day

With ongoing severe disruptions to oil transportation in the all-important Strait of Hormuz, many countries will necessarily turn to coal as a stop-gap measure with dwindling options. The longer this conflict drags on, the more likely coal plays like Canonsburg, Pennsylvania-based Core Natural Resources should benefit. While we all follow oil...

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16Mar3:13 pmEST

Memory to the Test

Micron Technology (MU) reports this Wednesday evening, a rather late-season week to report. Coupled with the war in Iran on top of the FOMC on Wednesday during the session, it is easy to see how MU's earnings report may be overlooked. Recall that Micron is a leading global manufacturer of semiconductor memory AI and data centers, among other...

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13Mar3:11 pmEST

Afternoon Update 03/13/26 {Video}

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12Mar2:52 pmEST

Even Golden Slacks Get Worn Out

Goldman Sachs (sometimes known as "Golden Slacks," as one its kinder nicknames compared to others) the iconic banking house, is the worst performer in the Dow Jones Industrial Average today as I write this. After tagging the big, round, 50,000 number in February, the Dow continues to unwind, suddenly within a stone's throw of testing its...

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11Mar2:55 pmEST

It's Not Just Oil

We have another indecisive session for equities, with bulls generally aiming to prove that the Iran conflict and the economy at-large are truly nothing to fret over, while bears are still trying to wrestle the overall market initiative away.  As for oil, despite plenty of reserves being released spot price remains plucky. I strongly suspect the...

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10Mar3:05 pmEST

Getting Out of Line

The big news of the afternoon, which clearly has had an impact on markets, centered around U.S. Energy Secretary Chris Wright deleting his "X" post, which had announced the U.S. Navy  escorted an oil tanker through the Strait of Hormuz. Iranian officials immediately refuted the validity of the post, which Wright (or his staff) had deleted,...

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