Alex Coffey is the co-host of Next Gen Investing and a senior equities contributor on the TD Ameritrade Network. A Senior Manager in Trading and Education for TD Ameritrade, Alex has a background in financial markets and market structure.
Coffey joined TD Ameritrade in 2014. Previously, he was the co-host of Fast Market on the TD Ameritrade Network and formerly a member of the company’s Retail Trade Desk and Client Services departments.
Coffey graduated from the University of Nebraska-Lincoln with a double major in finance and accounting and a double minor in math and economics. He holds his Series 7, 63, 3, and 34 U.S. securities industry licenses.
> Inflation data out this morning signaled the Fed's fight against rising prices may have to continue longer. Both stocks and bonds slipped after the news. Investors are on their toes for news of a debt ceiling deal, and volume may be light today ahead of the three-day holiday weekend.
Excitement about Nvidia's better-than-expected earnings and strong outlook appeared to outweigh debt ceiling concerns early Thursday. Key inflation data are on the way early Friday and may play into the market's thinking about the next Fed meeting in June.
The wait is on, not just for the debt ceiling negotiations to progress but also for Fed minutes and Nvidia earnings, both due this afternoon. Stocks resumed their descent early Wednesday as volatility heated up amid the debt ceiling clash, and "safe havens" seemed to attract investor funds.
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Despite debt ceiling concerns, the market remains stable and volatility isn't much higher this morning. However, rallies in the dollar and Treasury yields after hawkish comments from Fed officials appear to be halting progress in the stock market, and Lowe's outlook disappointed.
Debt ceiling negotiations hang over the market as investors await today's meeting between Biden and McCarthy. There's also a host of earnings this week including from major retailers and chip giant Nvidia (NVDA). Tech stocks could come under pressure today as Apple gets downgraded.
The debt ceiling and Fed Chairman Jerome Powell are likely to be the main focus this morning with stocks on pace for their best week since March and the SPX at nine-month highs. Watch weekend debt ceiling talks for insight into how stocks might open next Monday.
Walmart's solid earnings and continued hopes for a debt ceiling solution helped stocks build on yesterday's rally ahead of the open Thursday. Risk-on seems to be the mood, with bond yields rising and volatility stepping back. Fed Chairman Jerome Powell is scheduled to make remarks Friday morning.
Sentiment turned more positive early Wednesday following a disappointing Tuesday, as investors appeared to sense progress in debt ceiling negotiations. Still, retail earnings are setting a bit of a sour tone, with Target the latest big store to raise concern about consumer health.
Stocks sank before the open on a big revenue miss from Home Depot and Washington's continued debt ceiling waiting game.
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