[Chart courtesy of MarketWatch.com] Moving the markets The markets were in a frenzy as the debt ceiling deadline loomed closer. Speaker McCarthy blamed the other side for delaying the talks and hoped for some progress today. Yeah, right. The uncertainty drove the investors to dump their stocks and bonds, sending the major indexes lower for the second day in a …
Debt Ceiling Drama Drags Down Markets
[Chart courtesy of MarketWatch.com] Moving the markets The clock is ticking for the US government to raise the debt ceiling, but there is still no sign of a deal. This uncertainty weighed on the markets, which closed in the red. Unless the politicians stop playing chicken and reach an agreement before June 1st, we could see more volatility and weakness …
Stock Market Wobbles as Debt Talks Fizzle, Bond Yields Sizzle
[Chart courtesy of MarketWatch.com] Moving the markets The stock market was indecisive today as investors waited for the outcome of the debt ceiling talks. The US government is running out of time and money to avoid a default that could shake the global economy. President Biden and House Minority Leader McCarthy are meeting today to try to break the impasse, …
Markets Rally on Debt Deal Hopes, But Will It Last?
[Chart courtesy of MarketWatch.com] Moving the markets The markets were sluggish at first, but then they revved up their engines, as traders felt optimistic about a debt ceiling deal in the making. They were cheered by the words of speaker McCarthy, who said what Wall Street wanted to hear: “better progress”, “it’s possible to get a deal by the end …
Heading South
[Chart courtesy of MarketWatch.com] Moving the markets Home Depot’s dismal revenue report and bleak outlook sent the markets tumbling in the morning. The company blamed everything from bad weather to weak lumber prices to stingy consumers for its worst miss in two decades. The stock lost 5% of its value before clawing back some ground. Meanwhile, some mixed signals from …
Riding The Range
[Chart courtesy of MarketWatch.com] Moving the markets Last week’s moderate loss in the major indexes represented the S&P 500’s first two-week losing streak since February, with the overwhelming uncertainty being created by the ongoing debt ceiling negotiations. We’re stuck in no man’s land waiting for decisions to be made, so markets can gain some traction and stop treading water. In …