Tuesday's gains were of the smallish variety. Only the NASDAQ - being the most-leveraged of the indices - had any semblance of conviction. The broadest measure, the NYSE Composite, was actually down slightly, which is why Money Daily always reports it and others don't. Perception is half the battle in shaping outlooks.
With most of the economic data coming in below expectations, this morning's US durable goods orders came in at +0.9% against expectations of -1.0% after January was revised up from +3.2% to +3.3, defying the general logic that the U.S. is headed for a recession.
On the other hand, anybody not quite convinced that a global recession is soon to occur (if not already happening) needs to read this information from Schwab (twice):
The U.S. Q4 2024 final gross domestic product (GDP) comes out on Thursday. The previous print was 2.3% which is the highest in the world and the only country above 2%. The latest updates from China, Japan, and the United Kingdom are 1.6%, 0.6% and 0.1%, respectively. The Euro area is at 0% including Germany at –0.2%.
Two percent growth is somewhat of a baseline for GDP anywhere in the world. The idea that most countries aren't making the grade has to be a concern beyond the rhetoric of tariffs, the inflation-deflation debate, federal government downsizing, geo-politics, and the excessive assortment of market-altering events and news that seem to be popping up not only daily, but several times a day.
Wednesday appears to be a mixed bag. Futures are mixed, with Dow futures up 82, NASDAQ futures down 20, and S&P futures flat. WTI crude oil is closing in on $70 a barrel after US supply was drawn down in the latest energy report. Gold is hovering around $3,035, with silver catching a bid above $34.40.
Markets dislike uncertainty.
At the Close, Tuesday, March 25, 2025:
Dow: 42,587.50, +4.18 (+0.01%)
NASDAQ: 18,271.86, +83.26 (+0.46%)
S&P 500: 5,776.65, +9.08 (+0.16%)
NYSE Composite: 19,678.44, -25.77 (-0.13%)
Posts
No comments:
Post a Comment