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Bespoke Investment Group provides some of the most original content and intuitive thinking on the Street. Founded by Paul Hickey and Justin Walters, formerly of Birinyi Associates and creators of the acclaimed TickerSense blog, Bespoke offers multiple products that allow anyone, from institutions ...more


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Recent Winners Become Losers For A Day
The large-cap Russell 1,000 fell 0.35% on the day, but more than 2/3 of stocks in the index were actually up on the day, so breadth was quite strong. 
Slow Drift Higher In Stocks And Rates
It’s another quiet morning in the markets today as futures are little changed with a positive bias. Crude oil and yields are also higher.
Target’s Troubles
​​​​​​​It’s been a miserable couple of weeks for shares of Target as the stock is on pace for its tenth straight day of losses today.
May And YTD 2023 Asset Class Performance
May was a month of divergence where Tech/AI soared, and the rest of the market fell.
Debt Deal Moves To The House
Treasury yields are lower along with crude oil even as the debt ceiling deal moved out of Committee and is set for a full vote.
Some Good Inflation News
While the market prices in a much higher likelihood of a rate hike at the June meeting, there was actually some decent news on the inflation front today.
Home Prices Bounce In Hardest Hit Areas
Case Shiller home prices had been falling rapidly in many of the twenty cities tracked, but in March we actually saw a pretty big month-over-month bounce in some of the hardest-hit areas.
Tech In Orbit
Tech has led the way higher with a sharp move this week. The sector is now extremely overbought, trading 3.23 standard deviations above its 50-DMA; the fifth most overbought reading on record.
Copper Under The Weather
Copper is now down over 15% from its YTD high, and it’s testing the bottom of its longer-term uptrend channel.
Merger Monday
This morning, Chevron announced a deal to acquire PDC Energy for $72 per share in stock.
Stocks And Bonds Part Ways
Since April 6th, TLT is down 6.8% while the S&P 500 is up 2.7%.
Nasdaq Outperforms The DJIA By A Bull Market
Every day it seems the gap just keeps getting wider, and today the YTD performance spread between the Nasdaq and the DJIA widened out to over 20 percentage points.
Optimism Over Debt Ceiling
Politicians on both sides of the aisle are still talking tough regarding the debt ceiling, but there are signs of progress being made as President Biden has announced that he will cut short his trip to Asia. 
Homebuilders Sentiment And Stocks Still On The Rise
Housing activity appears to have finally stabilized after plummeting earlier in the tightening cycle.
NY Fed Plummets
The index plummeted all the way down to -31.8, the lowest since January when the index reached a slightly worse -32.9.
Claims High; PPI Low
Initial jobless claims came in higher than expected, continuing claims were modestly below estimates, headline PPI was weaker than expected, and core PPI was in line with expectations.
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