EB Daily Market Report - Friday, February 14, 2025

Dear Members.

Just a reminder that we will have our quarterly "Top 10 Stock Picks" webinar next Monday, February 17 at 5:30 pm EST. There is no need for you to register and you will be sent room instructions prior to the start of the event.

The bulls have been itching to notch a new all time high on the S&P and they got within one point this morning before the bears took a stand. Still, the bulls continue to be quite resilient, ignoring hotter than expected inflation reports, weak retail sales and tariffs galore.

Responses to earnings reports have been mixed this week with visible stocks like RDDT and TTD getting slammed while stocks like APP, BROS and ROKU advanced nicely. 

A few of the giant retailers including WMT and HD will report over the next two weeks with perhaps the most anticipated company of all - NVDA - set to report the week after next. Thus we will be able to see how traders react to these key earnings reports and how it might impact the near term.

We are seeing some relief in bond yields after the big spike on Wednesday after the release of the monthly CPI report. Since then the 10 year Treasury note has fallen by over 20 basis points as the market tries to sort everything out.

The VIX is also showing nerves have settled some though it still remains near the 15 level as traders keep one finger on the sell button "just in case."

That all time high on the S&P of 6128 is certainly in play and a move and close above that level could result in even higher prices. To the downside 6000 has provides solid support so that's the number to watch to the downside.

As a reminder, the market will be closed Monday in honor of President's day and Tom will be back with his Weekly Market report next week.

At your service,

John Hopkins