[Chart courtesy of MarketWatch.com] Moving the markets After yesterday’s euphoric dash to all-time highs, the futures continued their relentless march higher, still boosted by optimism that a giant wave of fiscal spending will not only power corporate earnings but also revive, or rather rescue, economic growth. However, that reckless enthusiasm was tempered somewhat during the regular session with the major …
New President—New All-Time Highs
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets bounced around in record territory supported by positive earnings and continued prospects of much more stimulus as Biden prepared to take charge. This bullish bias was sustained from the opening bell and, after a smooth transition of power, the major indexes shifted into overdrive and never looked back. The top …
Stimulus Hope And Earnings Outlook Power Markets
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets continued their rebound from yesterday into the regular session and recouped all of Friday’s losses. Propped up by Biden’s $1.9 trillion fiscal stimulus package, traders and algos alike shoved the markets higher with the major indexes never threatening to dip into the red. Helping the bullish mood was willingness by …
Cooling Off
[Chart courtesy of MarketWatch.com] Moving the markets An early rally bit the dust during the last 2 trading hours with the major indexes surrendering early gains and dumping into the red. Given recent advances the drop was modest with the Dow and Nasdaq faring the best with a loss of -0.22% and -0.12% respectively. MidCaps and GLD hung around the …
In Rebound Mode
[Chart courtesy of MarketWatch.com] Moving the markets After yesterday’s modest pullback, the major indexes continued to aimlessly vacillate around their respective unchanged lines throughout most of the session. A last hour push created enough upward momentum to assure a green close. The Nasdaq led the charge with a gain +0.28%, despite the FANGs tanking. But, as has been the case …
Stumbling Off The Highs
[Chart courtesy of MarketWatch.com] Moving the markets The futures market already indicated a negative bias with US equities and global stocks dropping off their record highs on Friday. A sense of caution dashed across trading desks, as questionable economic data, hopes for more stimulus, political turmoil and the continued barrage of Covid-19 cases combined to give the bears something to …