I’ve Got Three Charts You Should Be Watching

Last week I harped away about gasoline and it finally fell in the last few days. Notice it fell right to the uptrend line. Now it should be obvious for even casual chart readers to see that if this line breaks, it changes the energy picture in a big way. As aside, last week we … Read more

Energy and these 2 other sectors led the S&P 500. Now they’ve tanked. Here’s why that could be good for the stock market.

An unwind of the stock market’s best performing sectors had to happen eventually. And that may be just what this bear market ordered, according to Jonathan Krinsky, chief market technician at BTIG. Since June 8, energy, utilities and materials have been the S&P 500’s SPX, +0.22% worst-performing sectors, dropping 20%, 12% and 14% respectively, he … Read more

Cathie Wood has a simple response to Tesla getting booted out of an S&P 500 ESG index: ‘Ridiculous’

Cathie Wood is not pleased about one of her most popular investments, Tesla Inc., being excluded from a prominent index that tracks eco- and socially friendly companies. “Ridiculous,” was essentially Wood’s terse response to news that the S&P 500 ESG Index has dropped Elon Musk’s electric-vehicle maker Tesla TSLA, -6.80% from its lineup, as a … Read more

Stocks have weathered surging bond yields but can’t take too much more, this Morgan Stanley strategist warns

The colorful blogger Wolf Richter of the Wolf Street blog says the Federal Reserve engaged in a bit of deception with its purchases of Treasury-inflation protected securities as part of its quantitative-easing program. “Since March 2020, the Fed’s proportionally huge purchases dominated the relatively small TIPS market and pushed the TIPS yields into the negative,” … Read more

Cathie Wood’s flagship ARK fund tumbles more than 60% from its 2021 peak

After riding high early in the pandemic, Cathie Wood’s flagship ARK Innovation exchange-traded fund ARKK, +4.05% has tumbled more than 60% from its February 2021 peak, according to Bespoke Investment Group. Worse yet, shares of companies held by the fund were down 70% on average from their 5-year highs (see chart below). Only one stock … Read more

ARK’s Cathie Wood: ‘Private markets get it,’ but disruptive tech is beaten-up in the stock market

When it comes to valuing disruptive innovation, private markets seem to understand the opportunity better than the stock market, according to Cathie Wood, founder and chief executive of ARK Investment Management. “Private markets get it,” Wood said Tuesday while on stage at the Exchange ETF conference in Miami, referring to company valuations seen in venture … Read more