Steve Sosnick
Steve Sosnick is the Chief Strategist at Interactive Brokers (IBKR), which provides online trade execution and clearing services to institutional, professional and individual investors for a wide variety of electronically traded products including stocks, options, futures, forex, bonds, and funds worldwide. Learn more here .
Articles by Steve Sosnick
- Market Intelligence
The Bond Market Is Sending a Warning About the Next Era of Interest Rates
Indeed, $6 billion is substantially more than double the previous buyback rate but apparently falls short of what bond traders either hoped or expected.
- Active Investing
September Is the Worst Month for Stocks. Should Investors Care?
Most months show positive average returns, and the majority of individual months over each period show positive returns as well.
- Active Investing
Nvidia’s Big Surprise: The AI Trade Is Back—and So Is Market Rotation
If NVDA was the word of yesterday and today, the word for the rest of today and tomorrow is “Warsh.”
- Active Insights
The U.S.-Canada Trade War Is Just Getting Started. What Investors Should Watch Next
To put it bluntly, they are seriously pissed off, and that anger extends across the political spectrum.
- PowerAdvice
Single Stock Futures Are Back. Should Investors Pay Attention?
Hey, at least this means we can once again refer to quarterly expirations as quadruple witching.
- Active Investing
When Great Earnings Aren’t Enough: Has Investor Expectations Gone Too Far?
Remember, in those sports the medal is awarded only after the bar is set so high that most can’t jump over it.
- Active Insights
Market Rotation Is Building. Momentum Investors Should Pay Attention
It becomes trickier when relentless momentum continues to push those leaders higher regardless of value hunting.
- Active Investing
Markets Are Sending a Message Investors Shouldn’t Ignore
We’re now seeing what happens when consensus gets shaken and momentum breaks. Some of the most reliable themes were shattered in recent days.
- Active Investing
Markets Barely Reacted to Iran Strait News and That Could Be a Warning
If true, this would indeed be terrific news. Why then aren’t stocks and oil responding even more favorably?
- Active Investing
Volatility Stays Low as Investors Lean Into Optimism and FOMO Hedging
Nonetheless, traders remain generally unperturbed. To them, the setup, not the outcome, seems to matter more.
- Active Investing
Investors Are Pricing Optimism, Not Outcomes, in Gulf War Developments
Those moves, however, fail to fully reverse when nothing concrete is reported. It’s a ratchet effect that has been beneficial to stockholders.
- Market Intelligence
Bond Market Selloff Is Testing Wall Street’s Confidence in AI Stocks
Market expectations for the stock that has been the key pillar for the AI-related investment that has powered the three-and-a-half-yearlong bull market
- Research
Markets Turn Red as Inflation, Oil Prices, and Bond Yields Collide
There are valid reasons for today’s mood – taxation, inflation, and some key thresholds being crossed.
- Research
AI Spending Boom Faces Doubts as OpenAI Misses Expectations
Today, however, you will find that I relied on AI more than usual for my analysis – something that will be obvious as you read on.
- Research
Powell Stays, Fed Splits Deepen, Big Tech AI Bets Clash Across Markets
Of those four hyperscalers, all of whom are spending billions to build out their AI capabilities
- Research
A Record-Breaking Chip Rally Meets Sky-High Expectations
TXN not only met the necessary condition for a post-earnings rally with an EPS beat, but also the sufficient condition of higher guidance.
- Research
Relief Rally or Final Push? History Is Starting To Rhyme
Arguably, the move in stocks would have been even greater if they weren’t already up about 10% in anticipation of today’s news.
- Active Investing
Peace Talk Headlines, Oil Shocks, and a Market That Refuses To Care
Once again, stocks are basically expressing their view that the war in the Persian Gulf is all but over.
- Active Investing
Euphoria or Opportunity? Stocks Push Higher Despite Rising Risks
Sometimes it pays not to ask too many questions. That is certainly the case when it comes to the recent stock market performance.
- Research
Risk Is Rising Everywhere Except Stocks
Once again, equity traders are more concerned about good vibes and positive momentum than geopolitics.
- Opinion
Investors Bet on Policy Reversals as Tensions Rise
Stock traders, and to a lesser extent, oil traders, seem to be putting less emphasis on the comments coming out of either side.
- Market Intelligence
Central Banks Turn Hawkish Again as Market Assumptions Unravel
Indeed, while the market has essentially priced out rate cuts in the US, traders are expecting serial hikes from other major central banks.
- Active Investing
3% Market Jump Sparks Optimism as Energy Signals Lag Behind
Markets zoomed yesterday on a series of reports that implied a potential quick end to the hostilities in the Persian Gulf.
- Active Investing
Futures Surge, Then Stall—a Pattern Traders Can’t Ignore
This, unfortunately, reaffirms the psychological change that was reflected in Friday’s selloff.
- Research
Market Pullbacks Keep Fading as Investors Position for a Sudden Rally
Less than an hour after the open, the S&P 500 SPX has clawed back more than half its early losses despite a lack of substantive news.
- Research
Investors Look Past Fed Meeting as Inflation Signals Turn Uneven
PPI report in the morning and an FOMC meeting in the afternoon should have investors anticipating a pair of potentially market-moving events.
- Research
Geopolitics Just Hit Oil—Here’s Why Stocks Didn’t Fall Further
Quite frankly, US domestic production is less susceptible to geopolitical risk than oil headed for Europe.
- Research
Oil Spikes, War Rhetoric Escalates, Yet Markets Refuse To Panic
President’s comments, on the other hand, challenged investors’ perceptions about a speedy end to hostilities
- Active Investing
Private Credit Fears Grow as Markets Shrug off Strait of Hormuz Shock
Closure of the Strait of Hormuz was always among risk managers’ biggest fears, yet the consequences at least so far have been far less dire
- Market Intelligence
A Black Swan Yawns — And Markets Shrug
Black swan arrived over the weekend, yet the consequences have so far been minimal. Investor psychology is a major factor behind the relative calm.
- Market Intelligence
Markets Remain Strong, but AI Disruption and Correlation Shifts Flash Caution
I would define the current state of the markets as generally solid but with some developing fault lines under the relatively placid surface.
- Active Investing
From AI Optimism To AI Anxiety: Investors Rotate as Growth Stocks Crack
In the past few weeks, and specifically the past few days, it feels as though the market landscape is full of AI landmines.
- Market Intelligence
Software Sector Faces Sharp Selloff Amid Changing AI Expectations
Although this morning’s declines in major indices are roughly commensurate with those of recent days, the underlying metrics are not.
- Active Investing
Strong Quarters Aren’t Enough in This Market
Today we see AMD trading more than -16% lower, and PLTR, yesterday’s darling, is down about -12% after a +7% post-earnings bump.
- Active Investing
Markets Look Quiet—but Beneath the Surface, Something Is Shifting
The appearance of calm indices even as some of their components are gyrating is an important consideration for investors.
- Active Investing
Fed Holds Steady as Tech Cracks and Volatility Surges
Meanwhile, amidst today’s tech-led declines and reversals in key assets, the recent S&P 500 (SPX) milestone seems like a head fake.
