Insiders remain on the fence. All of the one-week sell/buy ratios from Vickers Stock Research improved this week (but are not stellar), while all the eight-week ratios are best described as flat. From a longer-term view, the six-month-based Insider Index from Vickers appears to have leveled off after months of deterioration -- and indeed improved slightly from last week. Still, the reading remains far from bullish territory and no return to bullish is imminent as the index is at its most-bearish level since September 2021. End of day, there is no compelling movement in insider sentiment this week. Meanwhile, according to Argus' Mark Arbeter, CMT, 'market breadth is certainly not optimal for a bull market, and eventually one of two things likely will happen. The rest (or part) of the market will wake up and start to participate, adding to the semiconductors strength, or the semis will run into trouble and take an already weak market structure lower. Dominance by the heavily weighted market caps is not a bad thing -- as long as it persists.' On a sector basis, selling by insiders last week was greatest in Information Technology, with shares valued at $1.11 billion sold, followed by Consumer Staples ($338 million sold) and Financials ($185 million sold). Buying outpaced selling in Energy, with $107 million of shares bought versus $45 million sold, as well as in Real Estate and Materials. This week, analysts at Vickers highlighted insider transactions of interest at Occidental Petroleum Corp. (NYSE: OXY) and Dell Technologies Inc. (NYSE: DELL).

Vickers Stock Research, a subsidiary of Argus Research Group, tracks and analyzes insider trading and institutional stock ownership trends. Form 13-Fs, which institutions must file to report their holdings, are due 45 days after the end of calendar quarters, and have now come in from 1Q24. We like to review the 13Fs of the major activist investors, including Carl Icahn, Trian Fund Management, Jana Partners, and ValueAct Holdings, among others, to determine their core holdings and new purchases. Activist investing has evolved in recent years and is now less about generating a short-term return on an underpriced stock and more about achieving long-term returns through an active management/investor partnership. Activists have made progress in the past year with high-profile investments into blue-chip companies such as Fedex and Union Pacific. According to Vickers, here are recent new purchases and key holdings of activist investors and other high-profile money managers such as Warren Buffet of Berkshire Hathaway and Ken Griffin of Citadel Advisors LLC.

Stock markets were down on Friday morning amid the kick-off of earnings by big banks. JPMorgan Chase is down 5% despite above-consensus results. However, net interest income decline sequentially and CEO Dimon noted a number of 'significant uncertain forces' due to inflationary pressures and geopolitical tensions. The Dow was down 0.8%, while the S&P 500 lost 1.0% and the Nasdaq fell 1.1%. Oil prices are on the rise amid increasing tensions in the Middle East. Israel has reportedly started preparations for a direct attack expected by Iran this weekend in response to the Israeli attack on the Iranian consulate in Syria last week. Crude oil is trading near $87 per barrel and gold rose $35 to $2408 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 edged higher on Tuesday morning amid an upturn in consumer confidence and reports of strong Cyber Monday sales. Investors also looked ahead to new GDP and inflation data later in the week. The Conference Board said that its consumer confidence index rose to 102.0 in November, up from 99.1 in October and above the Reuters consensus forecast of 101.0. The reading was the first increase after three straight monthly declines. Adobe Analytics reported that consumers spent $12.4 billion online on Cyber Monday, up 9.6% from the prior year. The Dow rose 0.4%, the S&P 0.2%, and the Nasdaq 0.3%. Crude oil rose to $77 per barrel, while gold jumped $24 to trade near $2036 per ounce.

Two-Thirds Through: Our Monthly Survey of the Economy, Interest Rates, and Stocks

Monday Tee Up: The Fed, Jobs, Earnings

So far this year, the Dow is up about 2%, the S&P is higher by around 8%, and the Nasdaq is up some 15%. That has caught the attention of investors who suffered through a very difficult 2022. Also so far this year, insider sentiment, gleaned from weekly data compiled by Vickers Stock Research, had not offered any indication that stock prices were out over their skis. But the most recent data from Vickers has caught our attention, and suggests a little consolidation may be in order.

Monday Tee Up: The Fed, Jobs, Earnings Roll On

Stocks finished slightly higher in volatile trading on Thursday as investors weighed new comments on interest rates from Fed officials, mixed results from major retailers, and weekly employment data. The Labor Department said that first-time claims for state unemployment benefits fell by 2,000 to 250,000 for the week ended August 13, below the consensus forecast of 265,000. Continuing claims rose slightly from the prior week. The Dow rose 0.06%, the S&P 0.23%, and the Nasdaq 0.21%. Crude oil rose more than 2% to $90 per barrel, while gold fell $5 to $1772 per ounce.

Stocks rose on Thursday morning amid earnings reports from major technology companies and new GDP data. The Commerce Department said that the U.S. economy contracted at a 1.4% annualized rate in the first quarter, driven mainly by a wider trade deficit, down from 6.9% growth in 4Q and below the Reuters consensus forecast, which called for growth of 1.1%. The Dow rose 0.4%, the S&P 0.8%, and the Nasdaq 0.6%. Crude oil rose nearly 2% to $104 per barrel, while gold fell slightly to $1890 per ounce.

Stocks fell sharply on Monday morning amid continued concerns about inflation and the pace of interest rate hikes. The decline was led by the Technology and Communication Services sectors, which both fell more than 2%, and came ahead of the release of new consumer price data on Tuesday. The consensus estimate currently calls for an increase of 8.5% in consumer prices in March, a four-decade high and up from 7.9% in February. The Dow fell 0.6%, the S&P 1.2%, and the Nasdaq 1.9%. Crude oil fell below $96 per barrel, while gold traded near $1956 per ounce.

Stocks rose on Thursday morning, despite a weaker-than-expected GDP report, as investors continued to focus on strong third-quarter earnings. The Commerce Department said that U.S. GDP rose at a 2.0% annualized rate in 3Q, the weakest reading since 2Q20 and below the Reuters consensus forecast of 2.7% growth. The Dow rose 0.5%, the S&P 0.8%, and the Nasdaq 1.2%. Crude oil fell to $82 per barrel, while gold traded near $1800 per ounce.

Delta and Fading Stimulus Chip Away at Recovery

Stocks were largely flat on Wednesday morning as investors weighed mixed earnings reports and awaited the Federal Reserve's policy announcement this afternoon. Boeing shares fell following a wider-than-expected first-quarter loss, though the company also reported a strong increase in aircraft deliveries. Microsoft shares also fell despite better-than-expected sales and earnings. The Dow fell 0.3%, the S&P rose 0.1%, and the Nasdaq fell 0.2%. Crude oil traded near $64 per barrel, while gold fell $6 to $1773 per ounce.

This edition features the future of networking; European food delivery; online education; and notes from GE, Costco, and Snowflake.

Stocks rallied strongly on Tuesday morning on signs that the Biden administration and Congressional Democrats would move forward quickly on their $1.9 trillion stimulus plan, rather than opt for a smaller plan like that proposed by Republican senators. On the earnings front, UPS shares rose after the company posted stronger-than-expected 4Q results. Investors also looked ahead to earnings from Alphabet and Amazon after the close. The Dow rose 2.0%, the S&P 1.7%, and the Nasdaq 1.4%. Crude oil traded near $55 per barrel, while gold fell $22 to $1840 per ounce.

Final Thoughts on Market Tendencies around the Election

Stocks rose on Friday, capping off a mixed week for the major indices. Equity index performance returned to the pattern that was common during the first 12 weeks of the recovery, as growth stocks outperformed blue chips. Economic readings, though plentiful, were overshadowed by big-tech earnings news. On Friday, The Dow Jones Industrial Average gained 115 points, or 0.4%. The S&P 500 increased 0.8% and the Nasdaq Composite jumped 1.5%. For the full week, the Dow fell 0.2%. The S&P 500 was up 1.7%, and the Nasdaq increased 3.7%. For the year-to-date, losses are now 7.4% for the Dow, while the S&P is up 1.3% and the Nasdaq is up 19.8%. Over the past 52 weeks, the Dow is down 0.2%, while the S&P 500 is up 11.6%, and the Nasdaq is up 34.3%. July is usually a strong stock month, and this year was no exception as the S&P 500 rose 5.5%.

Stocks rose on Friday, capping off a mixed week for the major indices. Equity index performance returned to the pattern that was common during the first 12 weeks of the recovery, as growth stocks outperformed blue chips. Economic readings, though plentiful, were overshadowed by big-tech earnings news. On Friday, The Dow Jones Industrial Average gained 115 points, or 0.4%. The S&P 500 increased 0.8% and the Nasdaq Composite jumped 1.5%. For the full week, the Dow fell 0.2%. The S&P 500 was up 1.7%, and the Nasdaq increased 3.7%. For the year-to-date, losses are now 7.4% for the Dow, while the S&P is up 1.3% and the Nasdaq is up 19.8%. Over the past 52 weeks, the Dow is down 0.2%, while the S&P 500 is up 11.6%, and the Nasdaq is up 34.3%. July is usually a strong stock month, and this year was no exception as the S&P 500 rose 5.5%.

Reopening Hopes are the Latest Leg in Stock Recovery

Reopening Hopes are the Latest Leg in Stock Recovery

Juniper Networks develops and sells switching, routing, security, related software products, and services for the networking industry. The company operates as one segment and its primary selling verticals are communication service providers, cloud, and enterprise. The California-based company was incorporated in 1996, employs over 9,000 individuals, and sells worldwide, with over half of its sales from the Americas region.

Tepid 4Q Earnings Wrap a Lackluster Year for Profits

Tepid 4Q Earnings Wrap a Lackluster Year for Profits

Stocks rose on Friday, capping off a mixed week for the major indices. Equity index performance returned to the pattern that was common during the first 12 weeks of the recovery, as growth stocks outperformed blue chips. Economic readings, though plentiful, were overshadowed by big-tech earnings news. On Friday, The Dow Jones Industrial Average gained 115 points, or 0.4%. The S&P 500 increased 0.8% and the Nasdaq Composite jumped 1.5%. For the full week, the Dow fell 0.2%. The S&P 500 was up 1.7%, and the Nasdaq increased 3.7%. For the year-to-date, losses are now 7.4% for the Dow, while the S&P is up 1.3% and the Nasdaq is up 19.8%. Over the past 52 weeks, the Dow is down 0.2%, while the S&P 500 is up 11.6%, and the Nasdaq is up 34.3%. July is usually a strong stock month, and this year was no exception as the S&P 500 rose 5.5%.

Reopening Hopes are the Latest Leg in Stock Recovery

Tepid 4Q Earnings Wrap a Lackluster Year for Profits

Current insider sentiment, as measured by proprietary metrics from Vickers Stock Research, remains benign in the face of uneven earnings reports from bellwether stocks. In this quiet environment for insider transactions, we typically pull back our sentiment view so as to avoid less-meaningful one-week data. To that end...

Current insider sentiment, as measured by proprietary metrics from Vickers Stock Research, remains benign in the face of uneven earnings reports from bellwether stocks. In this quiet environment for insider transactions, we typically pull back our sentiment view so as to avoid less-meaningful one-week data. To that end...

Stocks rose on Friday, aided by favorable earnings announcements, particularly from Technology companies, and a better-than-expected 2Q GDP report. The Dow Jones Industrial Average climbed 0.2%, while the Nasdaq Composite added 1.1% and the S&P 500 rose 0.7%, with the latter two benchmarks hitting all-time highs. With no significant update on the trade front, second-quarter earnings again dominated the news flow last week. Generally favorable results provided a constructive backdrop for stocks, leading to rises of 0.1% for the Dow, 1.7% for the S&P 500 and 2.3% for the Nasdaq. Year-to-date gains improved to 16.6% for the Dow, 25.5% for the Nasdaq and 20.7% for the S&P 500.

Stocks rose on Friday, aided by favorable earnings announcements, particularly from Technology companies, and a better-than-expected 2Q GDP report. The Dow Jones Industrial Average climbed 0.2%, while the Nasdaq Composite added 1.1% and the S&P 500 rose 0.7%, with the latter two benchmarks hitting all-time highs. With no significant update on the trade front, second-quarter earnings again dominated the news flow last week. Generally favorable results provided a constructive backdrop for stocks, leading to rises of 0.1% for the Dow, 1.7% for the S&P 500 and 2.3% for the Nasdaq. Year-to-date gains improved to 16.6% for the Dow, 25.5% for the Nasdaq and 20.7% for the S&P 500.

The 4/22/19-4/26/19 trading week was an historical one for the stock market, as the S&P 500 and Nasdaq Composite both reached all-time closing highs. For the year to date, the S&P 500 is up 18.3% on a capital-appreciation basis, and about 20% including dividends.

The 4/22/19-4/26/19 trading week was an historical one for the stock market, as the S&P 500 and Nasdaq Composite both reached all-time closing highs. For the year to date, the S&P 500 is up 18.3% on a capital-appreciation basis, and about 20% including dividends.

The 4/22/19-4/26/19 trading week was an historical one for the stock market, as the S&P 500 and Nasdaq Composite both reached all-time closing highs. For the year to date, the S&P 500 is up 18.3% on a capital-appreciation basis, and about 20% including dividends.

As expected, the S&P 500 has seen its near-term momentum blunted by the three highs from late 2018 that comprise near-term resistance. Those highs, representing the market's last stand in 2018 before plunging to the Christmas Eve low, range across 2,810 from 10/17/18; 2,814 from 11/7/18; and 2,790 from 12/3/18.

As expected, the S&P 500 has seen its near-term momentum blunted by the three highs from late 2018 that comprise near-term resistance. Those highs, representing the market's last stand in 2018 before plunging to the Christmas Eve low, range across 2,810 from 10/17/18; 2,814 from 11/7/18; and 2,790 from 12/3/18.

As expected, the S&P 500 has seen its near-term momentum blunted by the three highs from late 2018 that comprise near-term resistance. Those highs, representing the market's last stand in 2018 before plunging to the Christmas Eve low, range across 2,810 from 10/17/18; 2,814 from 11/7/18; and 2,790 from 12/3/18.

With the backdrop of a strong jobs report for January, stocks ended mixed on Friday, with the Dow Jones Industrial Average rising 0.3%, the S&P 500 inching higher by 0.1%, but the Nasdaq declining 0.3% as a weak forecast from Amazon weighed down performance. Fourth-quarter earnings dominated the news flow last week, and results were generally favorable, leaving the benchmarks with gains of 1.3% for the Dow, 1.4% for the Nasdaq and 1.6% for the S&P 500. In a continuing rebound from the December 24 low, stocks have now had six straight weeks of higher closes. For those mindful of the January barometer, the S&P 500 was up by 7.9% for the month, its best monthly start since 1987. Year-to-date gains are now 7.4% for the Dow, 8.0% for the S&P 500 and 9.5% for the Nasdaq.

With the backdrop of a strong jobs report for January, stocks ended mixed on Friday, with the Dow Jones Industrial Average rising 0.3%, the S&P 500 inching higher by 0.1%, but the Nasdaq declining 0.3% as a weak forecast from Amazon weighed down performance. Fourth-quarter earnings dominated the news flow last week, and results were generally favorable, leaving the benchmarks with gains of 1.3% for the Dow, 1.4% for the Nasdaq and 1.6% for the S&P 500. In a continuing rebound from the December 24 low, stocks have now had six straight weeks of higher closes. For those mindful of the January barometer, the S&P 500 was up by 7.9% for the month, its best monthly start since 1987. Year-to-date gains are now 7.4% for the Dow, 8.0% for the S&P 500 and 9.5% for the Nasdaq.

With the backdrop of a strong jobs report for January, stocks ended mixed on Friday, with the Dow Jones Industrial Average rising 0.3%, the S&P 500 inching higher by 0.1%, but the Nasdaq declining 0.3% as a weak forecast from Amazon weighed down performance. Fourth-quarter earnings dominated the news flow last week, and results were generally favorable, leaving the benchmarks with gains of 1.3% for the Dow, 1.4% for the Nasdaq and 1.6% for the S&P 500. In a continuing rebound from the December 24 low, stocks have now had six straight weeks of higher closes. For those mindful of the January barometer, the S&P 500 was up by 7.9% for the month, its best monthly start since 1987. Year-to-date gains are now 7.4% for the Dow, 8.0% for the S&P 500 and 9.5% for the Nasdaq.