[Chart courtesy of MarketWatch.com] The stock market exhibited a pattern of bobbing and weaving today, as uncertainty dominated, and the major indexes fluctuated around their respective unchanged lines. October has started on a weak note, with sentiment dampened by escalating tensions in the Middle East and the uncertain impact and duration of the East Coast port strike. Both events are …
ADP Data Shows Strong Job Growth, Eyes On Friday’s Payroll Report
[Chart courtesy of MarketWatch.com] The markets began the second day of October in negative territory, driven by escalating tensions in the Middle East. Despite this, the markets closed relatively unchanged, with China’s recent upward trend continuing, bolstered by their substantial stimulus program. Nike experienced a significant 7% drop after canceling its full-year guidance ahead of a new CEO’s arrival. Meanwhile, …
Gold Shines As Safe Haven Amid Market Turmoil
[Chart courtesy of MarketWatch.com] Escalating tensions in the Middle East have significantly dampened upward momentum, pulling the indexes down from their lofty levels. Wall Street’s “fear gauge,” the volatility index (VIX), spiked sharply, reflecting traders’ concerns. Historically, fears of contagion have a destabilizing effect on the markets. Early in the day, bond yields plummeted, benefiting gold and utilities. As expected, …
Markets Rebound After Powell’s Speech, Ending Month On A High Note
[Chart courtesy of MarketWatch.com] The markets experienced a downturn early on the final day of the month. However, sentiment shifted positively following a speech by Federal Reserve Chairman Powell just before the session’s close, leading to a green finish for the major indexes. August and September began with heightened volatility, but bullish sentiment ultimately prevailed. The S&P 500 closed the …
ETFs On The Cutline – Updated Through 09/27/2024
Do you want to know which ETFs are hot and which ones are not? Then you need my High-Volume ETF Cutline report. It tells you how close or far each of the 311 ETFs I follow is from its long-term trend line (39-week SMA). These are the ETFs that trade more than $5 million a day, so they are not …
ETF Tracker Newsletter For September 27, 2024
ETF Tracker StatSheet You can view the latest version here. DOLLAR DECLINES, GOLD AND BITCOIN RALLY AMID GLOBAL MARKET VOLATILITY [Chart courtesy of MarketWatch.com] The latest inflation report bolstered the optimistic outlook, suggesting that economic conditions were not as dire as anticipated. This pushed the major indexes higher, with all three concluding the week in the green. However, only …