[Chart courtesy of MarketWatch.com] Moving the markets Overnight, the Japanese markets painted a gloomy picture, as Tokyo pushed for a third COVID state of emergency with new cases spiking. Full-fledged lockdowns are being considered with the IOC possibly canceling this summer’s Olympics. That gloomy mood carried over into the US markets, with major indexes opening to the downside but never …
Stumbling Off The Highs
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes started the week in the red and stayed there throughout the session, as it appeared that traders had lost their appetite and any buying motivation. Weakness in the tech sector did not help and, given the fact that the Dow and S&P 500 just scored new highs on Friday, it …
Dow And S&P 500 Score New Records
[Chart courtesy of MarketWatch.com] Moving the markets The unchanged line was nowhere near in sight, as the major indexes roared higher after the opening bell and never looked back with the Dow and S&P 500 reaching new all-time highs. Big tech surged and maintained their dominance over SmallCaps, while “growth” outperformed “value.” Strong earnings and some economic reports painted a …
Banks Rally—Tech Cools Off
[Chart courtesy of MarketWatch.com] Moving the markets After an early pump, the major indexes lost momentum with the S&P 500 and Nasdaq ending up in the red, while the Dow managed to stay above its unchanged line. Strong bank earnings helped the financial sector with XLF gaining +0.63%, but that was offset by tech stocks tanking, despite the widely anticipated …
S&P 500 Notches Another Record High
[Chart courtesy of MarketWatch.com] Moving the markets Despite a slow start, the S&P 500 and Nasdaq found some upward momentum late in the session and broke out of a sideways trend with the former scoring a new all-time high. Anxiety about the Consumer Price Index (CPI) faded with the index rising in March by 0.6% vs. 0.5% expectations. YoY we …
Sliding Into Earnings Season
[Chart courtesy of MarketWatch.com] Moving the markets Subdued trading best describes today’s session during which the major indexes operated within a tight range. Despite a red close, the losses were minor, and the activity resembled a lack of motivation due to key inflation data and first quarter earnings awaiting on deck. Market volatility continued to decline, as seen by the …