[Chart courtesy of MarketWatch.com] A series of positive data points helped ease traders’ fears that the Fed’s aggressive 0.5% interest rate cut might have been prompted by a slowing economy. This had a positive impact on the major indexes. While the debate about the Fed’s actions continues, today’s sentiment favored the bulls. Initial weekly jobless claims fell, indicating a positive …
Indexes Poised For Positive September Finish Despite Volatility
[Chart courtesy of MarketWatch.com] The major indexes began the session without clear direction, hovering around their unchanged lines. However, they seem poised for a positive finish to this volatile month of September. Stock performance was mixed. Hewlett Packard rose over 4% following an upgrade, while Germany’s SAP fell more than 2%, and General Motors dropped nearly 6% after a downgrade. …
Gold Nears $2,700 As Dollar Weakens And Rate Cut Expectations Rise
[Chart courtesy of MarketWatch.com] The markets experienced early volatility due to a sharp drop in the September Consumer Confidence Index, which pressured stocks. However, by the end of the day, the major indexes managed to close moderately higher. The Consumer Confidence Index fell to 98.7, significantly below the revised August reading of 105.6 and marking its lowest level in three …
Economic Indicators And Election Risks Loom Over Market Gains
[Chart courtesy of MarketWatch.com] The markets continued to build on last week’s rally, driven by the Fed’s 0.5% interest rate cut, the first in four years. Initially, the indexes fluctuated, but the S&P 500 managed a weekly gain of 1.4%, while the Dow reached a new all-time high. However, the usual array of economic indicators remains a wildcard, potentially derailing …
ETFs On The Cutline – Updated Through 09/20/2024
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 20, 2024
ETF Tracker StatSheet You can view the latest version here. GOLD HITS NEW RECORD HIGH, BITCOIN RALLIES TO 1-MONTH HIGHS [Chart courtesy of MarketWatch.com] After yesterday’s significant rally, which followed Wednesday’s sudden midday reversal, the markets cooled off today, entering a consolidation phase due to the largest September option expiration on record. Despite traders’ enthusiasm about the Fed’s aggressive …