by Dan Gibby | Aug 13, 2023 | ETF Past Letters
Although the broader markets ended the week flat to down less than 1%, institutions began selling some of the leaders (e.g., MSFT, AAPL, and NVDA). The tech-heavy Nasdaq dropped 1.9% and is now down almost 5% so far this month. XLK (technology) and SMH (semis)...
by Dan Gibby | Aug 6, 2023 | ETF Past Letters
The broader markets sold off last week starting last Tuesday with Fitch’s downgrading the U.S. Credit Risk based on current debt levels. Fitch forecast US debt at 118% of US GDP by 2025. The rational reason for the downgrade is because of ballooning US...
by Dan Gibby | Jul 30, 2023 | ETF Past Letters
The broader markets had a good week, up between .5 – 1.9%. The S&P 500 is now up 28% from its 52-week low and made a new 52-week high on Friday. As expected, the Federal Reserve raised its federal funds rate by ¼ point to the highest level since 2001, which...
by Dan Gibby | Jul 23, 2023 | ETF Past Letters
The broader markets closed relatively unchanged last week after we got the expected retracement after the previous week’s party-mode rally on favorable inflation data. Economic reports early in the week could move the market, but the main focus will be the Fed...
by Dan Gibby | Jul 16, 2023 | ETF Past Letters
The broader markets were in party mode last week on favorable inflation data showing that it’s declining, as expected. The S&P 500 and Nasdaq both closed at 52-week highs on Thursday and the S&P 500 closed back above 4500 for the first time since April 2022....
by Dan Gibby | Jul 9, 2023 | ETF Past Letters
The broader markets were down somewhat last week after a bullish 3-day move into the employment data on Thursday and Friday. Thursday had a broad-based selloff after data showing a strong labor market increased bond yields and, thus, fears that the Fed will...
