Don’t forget to watch my Town Hall Special today on Fox Business at 2 PM, “Unbreakable Investor.” 

The focus will be the ‘Roaring 2020s. 

Yesterday was anything but roaring, as major indices staved off what could have been monster losses.  Still, there were no advancing sectors in the S&P 500. But ‘resolve’ was still the word of the day.

It Was A Beige Day

We have recently found nuggets of information in the Fed’s Beige Book report, but it was the same stuff as the prior month.

It makes you wonder what Powell knew when he took that victory lap back in October.

Today’s Session

The market has been higher most of the pre-open trading. Even a better-than-expected report on initial jobless claims hasn’t altered the upward bias.

Initial Jobless Claims 187,000 versus consensus 208,000.

We could see the S&P 500 stumble on higher bond yields, but the NASDAQ Composite will hold strong on results from Taiwan Semiconductor (TSM) which is sparking a huge move in the SMH ETF, AS IT continues to build on its breakout.