The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Stocks fell on Monday morning as the war between Israel and Hamas added to concerns about rising bond yields and a potential Fed rate hike next month. Investors also awaited the September consumer price index, the Fed's latest meeting minutes, and the first 3Q earnings reports from major banks later in the week. The Dow fell 0.2%, the S&P 0.4%, and the Nasdaq 0.9%. Crude oil jumped 4% to $86 per barrel while gold rose $20 to trade near $1866 per ounce.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Stocks were mostly higher on Thursday as investors weighed new GDP, housing market, and employment data. The Commerce Department said that the U.S. economy expanded at a 2.0% annualized rate in the first quarter, up from its prior estimate of 1.3% growth and above the consensus forecast. Housing market data was weaker than expected. The National Association of Realtors said that its pending home sales index fell 2.7% to 76.5 in May. The reading was the lowest since December and below the Bloomberg consensus, which called for a decline of 0.5%. Meanwhile, weekly employment data pointed to a still strong labor market. First-time claims for state unemployment benefits fell to 239,000, down from the prior week and below the consensus forecast of 265,000. Continuing claims also fell slightly to 1.742 million. The Dow rose 0.80%, the S&P rose 0.45%, and the Nasdaq was unchanged. Crude oil traded just below $70 per barrel, while gold fell $6 to $1916 per ounce.

The S&P 500 (SPX) continues to trend toward several important pieces of resistance following the rally off the March 13 intraday low of 3,809. First, the SPX is right at trendline resistance off the peak since August. Back in the latter part of February, the index had broken down out of a bearish wedge, backtested the lower line of the pattern, and continued lower. From the February 2 closing high to the recent closing low, the index gave up almost 8%, or 324 points. Based on the size of the wedge, a minimum target was down at 3,656 -- which the index didn't come close to hitting.

In 1Q23, stocks continued to recover from the bear-market lows of 2022, with the S&P 500 rising 7% for the quarter. Performance was led by last year's laggard sectors, including Communication Services and Technology. Last year's top-performing sector, Energy, was the worst in 1Q23. Financial Services, including banks, were not far ahead. The average stock in the Argus Universe of Coverage rose 4% in the quarter; the median stock advanced 2%. The average BUY-rated stock rose 5.4% and the average HOLD-rated stock gained 3.4%. Recently, we raised our sector rating on Technology to Over-Weight, and expect outperformance into 2Q -- especially if interest rates head lower. We also raised our rating on Financial Services, and the bottom five stocks in our list point to potential value opportunities.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

We'll take a wild guess that the S&P 500 (SPX) has never peaked on the first trading day of a new year and then moved lower for the rest of the year. In 2022, the index did close about 7% above its bear-market low from October (a month in which downtrends often end). The SPX lost 19.4% in 2022, with the Nasdaq and Nasdaq 100 giving up 33% as most Technology stocks (from small- to mega-cap) took the brunt of the losses. The Dow Industrials fared much better, falling 8.7%, while S&P 400 lost 13% and the Russell 2000 was down 20%.

October is known as 'the bear killer,' and the first trading day of the month sure felt that way (although massive rallies are common during bear markets, as seen since March). There have been 11 post-WWII bears that ended in October: 1946, 1957, 1960, 1962, 1966, 1974, 1987, 1990, 1998, 2002, and 2011 (19.4% on closing basis, over 20% on an intraday basis). We do not count 2001 (as do others) because it was not the end of that bear market based on the September low.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Stocks rose strongly on Friday morning, led by the Financial and Energy sectors. St. Louis Fed President James Bullard said that fears of recession were overblown, but reiterated his call for aggressive rate hikes to contain inflation. The University of Michigan Consumer Sentiment index fell to 50.0 in June, down from 58.4 in May and the lowest reading since the start of the series in the mid-1970s. According to the Michigan survey, consumer expectations for long-term inflation ticked up to 3.1% in June from 3.0% in May but were down from a preliminary June reading of 3.3%. The Dow rose 2.1%, the S&P 2.2%, and the Nasdaq 2.2%. Crude oil rose $4 to $108 per barrel, while gold traded near $1830 per ounce.

The stock market took us to the edge of the cliff, but then decided Monday wasn't going to be like late last week and orchestrated a well-timed U-turn. At its worst, the S&P 500 was down 71 points or almost 1.7%. The low of the day was close to 4,200, near the bottoms from January, February, and March between 4,115 and 4,223. Yet the index finished with a 0.6% gain, almost reaching 4,300. NYSE breadth improved from -2,100 to almost even.

Stocks were mixed on Thursday morning amid earnings reports from major banks and a new bid for Twitter from Elon Musk. On the employment front, the Labor Department said that first-time claims for state unemployment benefits rose to 185,000 for the week ended April 9, up from 167,000 a week earlier and above the Bloomberg consensus of 170,000. Continuing claims fell to 1.475 million, down from 1.523 million a week earlier and below the consensus forecast. The Dow rose 0.4%, the S&P fell 0.3%, and the Nasdaq fell 1.0%. Crude oil fell 1% to $103 per barrel, while gold fell $13 to $1972 per ounce.

Stocks rose on the first trading day of January, but since then have endured an as-predicted bumpy ride. The DJIA has fared the best, down just 0.29% in the first trading week of 2022. The S&P 500 is now down 1.87% year-to-date. The Nasdaq has fared the worst, down 4.53% in the first trading week of the new year.

For all the worries about inflation, supply chain, and a pandemic that did not take a single day off all year, 2021 was a very good stock year. The fact that the market was able to overcome some very real concerns is not that surprising, as Wall Street veterans believe the bull is at its most spry when it is climbing a wall of worry. And while the concerns were (and are) real, so too were (and are) the positives, including a reopening economy, growing earnings, and an increasingly inoculated populace.

Investors wrapped up a quiet final week in 2021 with a modest loss for the S&P 500. But that hardly dented a strong year for stocks, when the S&P 500 climbed almost 27%. The average stock in the Argus Universe of Coverage rose 24% during the quarter, and the median stock advanced 36%. The average BUY-rated stock increased 28%, while the average HOLD-rated stock gained 15%. Will investors continue to favor value in 2021? Will small-caps reverse their recent weak trend? Given low interest rates, we expect growth stocks to resume outperformance over time. Investors seeking value are encouraged to focus on dividends and look for yields in the 3%-4% range. As for small-caps, the promise of the vaccine is encouraging for these companies, which typically don't have the gilt-edged balance sheets of large-caps and are thus more dependent on a strong U.S. economy. Small-cap valuations remain depressed, and this group looks to offer value into 2022.

Since bottoming on September 29, gold and silver have traced out higher highs and higher lows. GLD ($170.61) rose 1.3% on Friday, popping back above the 200-day average. SLV ($22.67) bounced 1.6% on Friday and 1.4% on Monday and is closing in on the prior high of $23 from the beginning of September. SLV's 200-day is at $23.55, and there is a layer of chart resistance in that area.

Since bottoming on September 29, gold and silver have traced out higher highs and higher lows. GLD ($170.61) rose 1.3% on Friday, popping back above the 200-day average. SLV ($22.67) bounced 1.6% on Friday and 1.4% on Monday and is closing in on the prior high of $23 from the beginning of September. SLV's 200-day is at $23.55, and there is a layer of chart resistance in that area.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

We continue to keep a close eye on market breadth. Longer-term measures of breadth remain supportive of higher stock prices, but intermediate-term readings are neutral at best.

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Stocks fell sharply on Monday morning, led by the Technology and Communication Services sectors, as Treasury yields rose and the budgetary and debt ceiling stalemate continued in Washington. Manufacturing data was positive. The Commerce Department said that U.S. factory orders rose 1.2% in August, up from 0.7% in July and above the Reuters consensus forecast of 1.0%. The Dow fell 1.3%, the S&P 1.6%, and the Nasdaq 2.5%. Crude oil rose nearly 3% to $78 per barrel, while gold traded near $1765 per ounce.

Due to a difficult September, in which the S&P 500 fell 4.7%, 3Q21 was barely positive for stocks, with the major benchmark index increasing only 0.6%. The average stock in the Argus Universe of Coverage fell 1.7% during the quarter, and the median stock dropped 1.4%. The average BUY-rated stock slipped 0.9%, while the average HOLD-rated stock declined 3.7%. Will investors continue to favor value in 2021? Will small-caps reverse their recent weak trend? Given low interest rates, we expect growth stocks to resume their outperformance over time, and think this may be the one-in-five years that value leads. Investors seeking value are encouraged to focus on dividends and look for yields in the 3%-4% range. As for small-caps, the promise of the vaccine is encouraging for these companies, which typically don't have the gilt-edged balance sheets of large-caps and are thus more dependent on a strong U.S. economy. Small-cap valuations remain depressed, and this group looks to offer value into 2022.

Stocks rallied on Thursday as concerns eased about a potential Evergrande bond default and investors gained more certainty about the Fed's timeline for tapering bond purchases. Accenture posted solid fiscal 4Q results, raised its dividend, and issued strong guidance for FY22. Salesforce also raised its full-year revenue outlook. Both first-time and continuing unemployment claims rose from the prior week, and came in above consensus forecasts. The Dow rose 1.48%, the S&P 1.21%, and the Nasdaq 1.04%. Crude oil rose to $73 per barrel, while gold fell $30 to $1748 per ounce.

Stocks were mixed on Wednesday morning following the first 1Q earnings reports from major banks. JPMorgan Chase posted solid earnings as strong capital markets activity, along with reserve releases, more than offset weakness in its lending business. Wells Fargo also reported much stronger-than-expected results with help from reserve releases. The Dow rose 0.6%, the S&P rose 0.1%, and the Nasdaq fell 0.2%. Crude oil traded near $63 per barrel, while gold fell $11 to $1736 per ounce.

The first quarter was good for stocks, as the S&P 500 increased more than 6.0%. The average stock in the Argus Fundamental Universe of Coverage advanced more than 13%, and the median stock gained 9.6%. The average BUY-rated stock increased 12%, while the average HOLD-rated stock rose 16%. Will investors continue to favor value and small-cap? Given low interest rates, we expect growth stocks to outperform over time, but think that 2021 may be the "one-in-five years" that value leads. Investors seeking value are encouraged to focus on dividends and look for yields in the 3%-4% range. For small-caps, the vaccine is encouraging as these companies typically don't have the gilt-edged balance sheets of large-caps and are more dependent on a strong U.S. economy. Small-cap valuations remain depressed despite the recent run, and this group continues to look well positioned in 2021.

Stocks rose on Monday morning as the U.S. began its first vaccinations with the Pfizer/BioNTech coronavirus vaccine. There were also signs that congressional Democrats and Republicans were moving closer to a fiscal stimulus compromise focusing on aid to unemployed workers and small businesses as well as vaccine distribution. In Europe, the EU and the UK extended their Sunday deadline to reach a post-Brexit trade agreement. The Dow rose 0.5%, the S&P 0.4%, and the NASDAQ 1.0%. Crude oil traded near $46.50 per barrel, while gold fell $5 to $1839 per ounce.

Stocks rose on Thursday morning following new employment data and reports that the White House and Congressional Democrats had resumed fiscal stimulus negotiations. The Labor Department said that initial claims for state unemployment benefits totaled 840,000 for the week ended October 3, down from 849,000 a week earlier but above the Bloomberg consensus forecast of 820,000. First-time claims have now held below 1 million for six straight weeks, but have not fallen below 800,000 since the start of the pandemic. The Dow rose 0.4%, the S&P 0.6%, and the Nasdaq 0.5%. Crude oil traded near $41 per barrel, while gold rose slightly $1891 per ounce.

Stocks rose on Thursday morning following new employment data and reports that the White House and Congressional Democrats had resumed fiscal stimulus negotiations. The Labor Department said that initial claims for state unemployment benefits totaled 840,000 for the week ended October 3, down from 849,000 a week earlier but above the Bloomberg consensus forecast of 820,000. First-time claims have now held below 1 million for six straight weeks, but have not fallen below 800,000 since the start of the pandemic. The Dow rose 0.4%, the S&P 0.6%, and the Nasdaq 0.5%. Crude oil traded near $41 per barrel, while gold rose slightly $1891 per ounce.

Stocks rose on Tuesday morning on better-than-expected retail sales data and promising results in a trial of dexamethasone, a generic steroid, as a treatment for severely affected COVID-19 patients. The Commerce Department said that U.S. retail sales jumped 17.7% in May following a drop of 14.7% in April. The reading far exceeded the Reuters consensus forecast of 8.0% growth. The Dow rose 1.8%, the S&P 1.7%, and the Nasdaq 1.5%. Crude oil traded near $38 per barrel, while gold rose $8 to $1735 per ounce.

Stocks rose on Tuesday morning on better-than-expected retail sales data and promising results in a trial of dexamethasone, a generic steroid, as a treatment for severely affected COVID-19 patients. The Commerce Department said that U.S. retail sales jumped 17.7% in May following a drop of 14.7% in April. The reading far exceeded the Reuters consensus forecast of 8.0% growth. The Dow rose 1.8%, the S&P 1.7%, and the Nasdaq 1.5%. Crude oil traded near $38 per barrel, while gold rose $8 to $1735 per ounce.

When the S&P 500 punches back up through its 200-day trendline, risks rise that the market will roll over. It's not hard to see why. When a once-beaten but then-rallying market approaches its long-term trendline, the rally may already be running on fumes. The final push to the 200-day can include catch-up investors and former fence-sitters, leaving little unused firepower on the sidelines. As well, individual investors and wealth managers may pile into a few favorite stocks, causing a thin advance. And, finally, the event(s) that sent the index skidding below its 200-day are still in memory, creating risks that modest profit-taking can morph into panicked selling out of fear another major dive is under way.

When the S&P 500 punches back up through its 200-day trendline, risks rise that the market will roll over. It's not hard to see why. When a once-beaten but then-rallying market approaches its long-term trendline, the rally may already be running on fumes. The final push to the 200-day can include catch-up investors and former fence-sitters, leaving little unused firepower on the sidelines. As well, individual investors and wealth managers may pile into a few favorite stocks, causing a thin advance. And, finally, the event(s) that sent the index skidding below its 200-day are still in memory, creating risks that modest profit-taking can morph into panicked selling out of fear another major dive is under way.

Stocks pared early gains on Friday morning, a day after Thursday's record selloff. The recovery was mixed, with strong gains in financial and tech stocks, and continued losses in the healthcare, energy and utility sectors. House Democrats and the White House appeared close to agreeing on a new economic stimulus package, and the Fed said that it would buy $37 billion of bonds across a range of maturities. The S&P rose 0.7%, the Dow 0.6%, and the Nasdaq 0.4%. Crude oil rose nearly 2% to $32 per barrel, while gold fell $28 to $1563 per ounce.

Stocks pared early gains on Friday morning, a day after Thursday's record selloff. The recovery was mixed, with strong gains in financial and tech stocks, and continued losses in the healthcare, energy and utility sectors. House Democrats and the White House appeared close to agreeing on a new economic stimulus package, and the Fed said that it would buy $37 billion of bonds across a range of maturities. The S&P rose 0.7%, the Dow 0.6%, and the Nasdaq 0.4%. Crude oil rose nearly 2% to $32 per barrel, while gold fell $28 to $1563 per ounce.

Stocks were up modestly on Wednesday morning as the House readies to vote on impeachment. Investors have paid little attentions as they expect the Senate to acquit President Trump. On the earnings front, FedEx fell nearly 10% after reporting weaker-than-expected earnings and reducing full-year guidance. The Dow rose 0.1%, the S&P 0.1%, and the Nasdaq 0.1%. Crude oil traded near $61 per barrel, while gold was up nearly $2 to $1482 per ounce.

Stocks were up modestly on Wednesday morning as the House readies to vote on impeachment. Investors have paid little attentions as they expect the Senate to acquit President Trump. On the earnings front, FedEx fell nearly 10% after reporting weaker-than-expected earnings and reducing full-year guidance. The Dow rose 0.1%, the S&P 0.1%, and the Nasdaq 0.1%. Crude oil traded near $61 per barrel, while gold was up nearly $2 to $1482 per ounce.

When the S&P 500 punches back up through its 200-day trendline, risks rise that the market will roll over. It's not hard to see why. When a once-beaten but then-rallying market approaches its long-term trendline, the rally may already be running on fumes. The final push to the 200-day can include catch-up investors and former fence-sitters, leaving little unused firepower on the sidelines. As well, individual investors and wealth managers may pile into a few favorite stocks, causing a thin advance. And, finally, the event(s) that sent the index skidding below its 200-day are still in memory, creating risks that modest profit-taking can morph into panicked selling out of fear another major dive is under way.

Stocks rose on Tuesday morning on better-than-expected retail sales data and promising results in a trial of dexamethasone, a generic steroid, as a treatment for severely affected COVID-19 patients. The Commerce Department said that U.S. retail sales jumped 17.7% in May following a drop of 14.7% in April. The reading far exceeded the Reuters consensus forecast of 8.0% growth. The Dow rose 1.8%, the S&P 1.7%, and the Nasdaq 1.5%. Crude oil traded near $38 per barrel, while gold rose $8 to $1735 per ounce.

Stocks pared early gains on Friday morning, a day after Thursday's record selloff. The recovery was mixed, with strong gains in financial and tech stocks, and continued losses in the healthcare, energy and utility sectors. House Democrats and the White House appeared close to agreeing on a new economic stimulus package, and the Fed said that it would buy $37 billion of bonds across a range of maturities. The S&P rose 0.7%, the Dow 0.6%, and the Nasdaq 0.4%. Crude oil rose nearly 2% to $32 per barrel, while gold fell $28 to $1563 per ounce.

Stocks rose on Thursday morning following new employment data and reports that the White House and Congressional Democrats had resumed fiscal stimulus negotiations. The Labor Department said that initial claims for state unemployment benefits totaled 840,000 for the week ended October 3, down from 849,000 a week earlier but above the Bloomberg consensus forecast of 820,000. First-time claims have now held below 1 million for six straight weeks, but have not fallen below 800,000 since the start of the pandemic. The Dow rose 0.4%, the S&P 0.6%, and the Nasdaq 0.5%. Crude oil traded near $41 per barrel, while gold rose slightly $1891 per ounce.

Stocks rose on Wednesday morning, led by the Technology and Energy sectors, amid signs of progress in the U.S.-China trade talks. Bloomberg reported that China would be open to a limited, rather than a broad, trade agreement, in which it would purchase U.S. agricultural goods if the U.S. did not impose additional tariffs. The Dow rose 0.6%, the S&P 0.8%, and the Nasdaq 0.9%. Crude oil traded near $53.50 per barrel, while gold rose $10 to $1514 per ounce.

Stocks rose on Wednesday morning, led by the Technology and Energy sectors, amid signs of progress in the U.S.-China trade talks. Bloomberg reported that China would be open to a limited, rather than a broad, trade agreement, in which it would purchase U.S. agricultural goods if the U.S. did not impose additional tariffs. The Dow rose 0.6%, the S&P 0.8%, and the Nasdaq 0.9%. Crude oil traded near $53.50 per barrel, while gold rose $10 to $1514 per ounce.

Stocks moved lower on Wednesday morning, reflecting continued trade concerns, though new consumer price data pointed to muted inflation and raised prospects for an interest rate cut. The Labor Department reported that its consumer price index rose 0.1% in May, down from 0.3% growth in April and in line with the Reuters consensus forecast. The CPI also rose 1.8% from the prior year, down from 1.9% in April and slightly below consensus. The Dow fell 0.1%, the S&P 0.2%, and the Nasdaq 0.4%. Crude oil fell nearly 3% to about $52 per barrel, while gold rose $6 to $1338 per ounce.

Stocks moved lower on Wednesday morning, reflecting continued trade concerns, though new consumer price data pointed to muted inflation and raised prospects for an interest rate cut. The Labor Department reported that its consumer price index rose 0.1% in May, down from 0.3% growth in April and in line with the Reuters consensus forecast. The CPI also rose 1.8% from the prior year, down from 1.9% in April and slightly below consensus. The Dow fell 0.1%, the S&P 0.2%, and the Nasdaq 0.4%. Crude oil fell nearly 3% to about $52 per barrel, while gold rose $6 to $1338 per ounce.

Talking the Market Higher: Our Monthly Survey of the Economy, Interest Rates, and Markets

Talking the Market Higher: Our Monthly Survey of the Economy, Interest Rates, and Markets