[Chart courtesy of MarketWatch.com] The Nasdaq pushed to another intraday record today, but the broader market mostly spun its wheels. Oil continued to retreat on reports that Iran may reopen the Strait of Hormuz within seven days, while Saudi Arabia is reportedly preparing to restart its East-West pipeline. Neither development is a done deal, but it was enough to take …
Risk-On Returns: Tech Rallies, Oil Slides, Bitcoin Breaks Loose
[Chart courtesy of MarketWatch.com] Wall Street came out swinging Monday, shrugging off another round of Middle East tensions as falling oil prices, easing bond yields, and a powerful tech rally gave the bulls plenty of ammunition. AI-related stocks did much of the heavy lifting, with Intel, AMD, and Qualcomm surging, while the Mag 7 once again flexed their muscles and …
Stocks Rebound, Silver Shines And Bitcoin Shrugs Off The Fed
[Chart courtesy of MarketWatch.com] Stocks bounced back today as lower bond yields, softer oil prices, and renewed strength in technology gave investors a few good reasons to step back into the market. Tech did most of the heavy lifting, while the 10-year Treasury yield slipped back below 5%, taking some pressure off equities. Oil also retreated toward $100 as supply …
Fed Sticks To The Script, But Markets Still Head South
Fed Sticks To The Script, But Markets Still Head South [Chart courtesy of MarketWatch.com] The market spent most of the day fixated on the Fed, and in the end, Chair Powell & Co. stuck to the script with a quarter-point rate hike. That outcome may not have been exciting, but it removed the risk of a surprise, which is usually …
Bitcoin Shines While Stocks Slide Under The Weight Of Rising Yields
[Chart courtesy of MarketWatch.com] Friday’s relief rally didn’t make it through the weekend. Stocks opened on their back foot and spent most of the day underwater as investors wrestled with three things that mattered: AI uncertainty, surging oil prices, and another bout of bond market nerves. The AI space took a hit after renewed calls for a slower pace of …
Black Gold Becomes The Market’s Wrecking Ball
[Chart courtesy of MarketWatch.com] Stocks took another hit today, and the culprit wasn’t hard to find. Crude oil surged back above $100 a barrel as the U.S.-Iran conflict dragged into its seventh month, reigniting inflation worries and putting pressure on just about every risk asset. The market largely shrugged off a benign PPI report. While wholesale inflation came in as …