Stocks Have Best Week Of The Year As Economy Grinds To A Halt

Tyler Durden's picture

Yeah, this happened...

 

And so did this...

 

So this...

 

April was a volatile month in markets - bonds, bullion, and stocks higher; crude, copper, and base commodities all tumbled

  • US Equities up for 5th of last 6 months (highest monthly close ever)
  • S&P Tech Sector up 5 months in a row - longest streak since Aug 2014 (record monthly close)
  • S&P Energy Sector down 4th month in a row (lowest monthly close since July)
  • Treasury Yields fell for the 3rd of the last 4 months (lowest monthly close in yields since October)
  • WTI fell for 2nd month in a row (lowest monthly close since August)
  • Copper down for 3rd month in a row - longest losing streak since Oct 2015 (lowest monthly close since December)
  • Dollar Index fell for 3rd of last 4 months (lowest monthly close sine October)
  • GBPUSD has risen for 6 of the last 7 weeks (and April was GBP's best month since April 2015)
  • Gold was up for the 4th month in a row - longest winning streak since Aug 2012 (highest monthly close since October)

Bonds, Bullion, and Stocks all rose around 1.25% on the month, but Banks were down in April (and March) for the worst 2-month drop since Feb 2016.

 

Tech led the month, Energy lagged...

 

Dollar Index fell for the 2nd month in a row (3rd of 4) erasing most of the gains post-Trump

*  *  *

It was a tough week for 'soft' data and reality-checks - who do you trust to forecast reality?

 

But stocks were all higher (apart from Trannies)...The best week of the year for The Dow!!! But it ended on a weak note...

Small Caps were hit hard today as "Most Shorted" stocks' squeeze seemed to end...

 

Utes were the only sector red on the week, Healthcare and Tech led (with Financials solid post-Macron)...

 

Breadth has remained weak in this entire recent surge...

 

Volume has been abysmal the last two days (lowest of the year)

 

VIX was crushed this week - by the most since the post-Trump-election - but dsid bounce back a little today...

 

Finally today was all about the Nasdaq... except all that hope faded fast as it clung to unch. Small Caps and Trannies were hit hard...

 

The Good (AMZN), The Bad (MSFT), and The Ugly (INTC) in Nasdaq-land today...

 

Notably, bank stocks have slumped since Trump unveiled his tax plan this week...

 

And pretty clear picture of the safe haven buying after Trump tax plan...

 

Big week for EUR (France elections) and JPY was sold...

 

The Dollar Index scrambled back to unchanged from the Macron-drop but ended the week lower...

 

EURUSD surged on the heels of the Le Pen loss to the highest since Trump's election...

 

Cable has risen for 6 of the last 7 weeks (and April was GBP's best month since April 2015)

 

Treasury yields ended the week higher but below the kneejerk opening yields from Sunday night after the French election relief...

 

30Y Yields tested 3.00% fives times this week and rallied back each time (30Y ended down 1.5bps today after being up 4bps after GDP... oddly)

 

Gold (and Silver) suffered it's worst week in the last 7 but copper rallied most in 6 weeks...

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Squid Viscous's picture

Wango Tango buy moar Fang bitchez!

-Ted Nugent

AldousHuxley's picture

sideways market

Trump can' get anythign done...all talk

 

calm before the storm....elites will crash the economy while Trump is still in the whitehouse, so their chosen candidate can "fix" it 

Blue Balls's picture

As WD would sing It's a Joo worlrd after all.

Yog Soggoth's picture

It's a tough night tonight. I took a jar of jalopenos out, took out the seeds and just started eating them. I ate a bunch. No Nachos. Thats how tough I am.

Lumberjack's picture

"Go shopping" GWB September some years ago.

swampmanlives's picture

Let me guess, Trump will blame this on Obama now?

BigFatUglyBubble's picture

That's not gonna fly.  He tweeted himself into a corner with his JOBS JOBS JOBS! GREAT OPTIMISM! malarky.

 

JRobby's picture

Many knew this was coming all along. The past 6 months was a denial of the realities that were 40 years in the making (per the master plan of the elite)

Just a vacation in lal la land..........

BigFatUglyBubble's picture

Is la-la land vacation over yet?  BFUB doesn't like la-la land.

Mr 9x19's picture

shitty meaningless rigged gfx.

display pinky open cunts instead,  would be better for markets.

adr's picture

Go back before 2009 and tell people rate hikes will be negative for your currency and negative interest rates would not only exist but be bullish. 

Then tell them an unprofitable, for the most part, company would give you the world's richest man. 

Then go on to say the greatest inventory build of all time in oil would cause the price of the commodity to double. 

Tell me they wouldn't lock you up in a nut house. 

chunga's picture

I got panhandled last week as soon as I got out of my truck at Krogers. It still bugs me I didn't give her anything. I've never seen that in that parking lot before.

CheapBastard's picture

Not only are they more aggressive now but robberies at gas stations is soaring. While you stand there pumping gas two will come up to yo one in front and one bhind you and at first ask for money.

 

However, given their threatening demeanor, their "ask" is actually a demand.

Be careful. More and more people are poor and many others feel entitled to your hard-earned money.

Yog Soggoth's picture

Krogers is still alive? Where in the heck do you live? Do they still have piggly wigglies there?

PeterLemonJello's picture

I like you ADR......always have. We think alike.

Dg4884's picture

This is going to end so badly.

Rainman's picture

Tech titans Fakebook and Google get phish scammed out of $100,000,000 ... wheeeee !

http://www.digitaltrends.com/computing/facebook-google-phishing-scam/

JRobby's picture

They claim that they recovered most of the $$$$.

So he was very good but did not have access to "the big $$$ laundering machine". Only highly placed elite, politicos and banksters have access to that one!

BlueHorseShoeLovesDT's picture

Trump has got this ultimate set of tools. He can fix it.

yogibear's picture

Everything is awsome! BTFD!

More central bank printing to keep the assets elevated.

Chief_Illiniwek's picture

The concept of an "economy" is irrelevant in a world where "money" may be created from nothing/anytime/anywhere.

Blue Snowflake's picture

Worked for 800 years in England. Tally Sticks

 

Also worked quite well for the American Colonies. Continental Script.

explosivo's picture

By "work quite well" do you mean hyperinflation? Continental script was inflated into oblivion like every other fiat ever. 

yogibear's picture

Best way to rob a bank is to own one.

"The concept of an "economy" is irrelevant "

So are accounting books. Nothing backing fiat.

Zimbabwe fiat was worth something, now it isn't.

 

Yog Soggoth's picture

You are hired. We will send you a notice of how to dress like some kind of fancylad. Central bankers are the preferred terminology. As you have figured out, other CB's from around the world coordinate to come up with the most devilish plans.

flaminratzazz's picture

it is a good thing we have a man who excels at running companies into the ditch @ the tiller.

"that iceburg dont look all that big and anyway, we are unsinkable."

BlueHorseShoeLovesDT's picture

Larry Kudlow snorted a couple of lines and said everything is great!

Fundies's picture

Missed the train. .... feel the pain. . 

803Mastiff's picture

The "Big O" Oconomy as in O-Shit

 

Conax's picture

At least OP Ex for silver is over, they can take their gorilla's ass off its face now.

lester1's picture

1. Stocks are near all time highs

2. GDP is only 0.7%

3. 43 million Americans still on food stamps.

 

Keep buying stocks PPT!!! 

 

You guys at PPT still located at 33 Liberty Street, NYC ??

jamesmmu's picture
The High U.S. China Trade Deficit; Does This Indicate A Deformed Trading Relationship Between U.S. And China?

http://investmentwatchblog.com/the-high-u-s-china-trade-deficit-does-thi...

Ring_Of_Fire's picture

Its about time for some DOOM to be coming very soon..

penneyed's picture

I think we are getting close.

Silver Savior's picture

The total doom will turn out to be bullish too :)

sinbad2's picture

Utilities are a good investment during depressions, you can rip people off for power and water, cause they can't go anywhere else.

penneyed's picture

Only analysts I know of who prove their calls with time stamped charts and show years of analysis history. 

https://www.facebook.com/166578775325/photos/pcb.10154415126355326/10154...

https://www.facebook.com/166578775325/photos/pcb.10154415126355326/10154...

 

Saw these guys on ZH months ago and as far as I can see they are the only actual analysts getting direction right week after week. 

Mon T's picture

Their work is good. Great calls on a week to week trades.

Silver Savior's picture

So at least we know we don't need an economy to have a robust stock market. Who would have ever known?

And on a side note I am getting a kick out of playing with my Ethereum. Yay something from nothing. 

S Spade's picture

defund the SEC...worse than enabling crooks, they provide the false illusion that markets are policed.   the current market is divorced from supply demand, institutions and funds collude to shovel shares back and forth in a zero sum game to jack the price and squeeze those shorts who haven't already been strangled by their extortion tactics.

Last of the Middle Class's picture
Stocks Have Best Week Of The Year As Economy Grinds To A Halt

 

And there you have the symptom, problem and solution in one sentence if you look closely enough.