[Chart courtesy of MarketWatch.com] Moving the markets On deck today were the Fed minutes from the July meeting, which disclosed what everyone already knew, namely that discussions about a possible reduction of its monthly $120 billion bond buying program had already happened. Here’s what the minutes said: Looking ahead, most participants noted that, provided that the economy were to evolve …
Stocks Dump—Where’s The Afternoon Pump?
[Chart courtesy of MarketWatch.com] Moving the markets An early dump in the markets was not followed by the usual afternoon pump, as a meager rebound attempt failed to make up for the early losses. Contributing to the sour mood were declining retail sales, as the artificial boom created by almost 18 months of “stimmy checks” had worn off. Other econ …
Dipping and Ripping
[Chart courtesy of MarketWatch.com] Moving the markets Overnight, Chinese econ data came in far below expectations thereby pulling down the futures markets. Even though their retail sales increased by 8.5% in July, it was a far cry from the expected 11.5% forecast. The manufacturing sector figure disappointed as well. This negative sentiment carried over into the regular session with the …
Gingerly Advancing
[Chart courtesy of MarketWatch.com] Moving the markets Despite worsening inflation numbers, the markets jumped right after the opening bell, with only the Nasdaq losing momentum during the session, while the Dow and S&P 500 remained solidly in the green. July’s CPI showed that prices surged 5.4% YoY, which was a tad higher than expectations of 5.3%. MoM the CPI increased …
Battling The Unchanged Line
[Chart courtesy of MarketWatch.com] Moving the markets Despite the Dow and S&P 500 climbing into record territory right after the opening, it was only the Dow that maintained its bullish momentum into the close. The S&P 500 floundered and battled with its flatline but managed to close a tad above it, while the Nasdaq stumbled in the red throughout the …
Flopping And Chopping
[Chart courtesy of MarketWatch.com] Moving the markets The growth meme was the talk of the day on Wall Street, as concerns mounted again that not all is well in the world of economics. Things started on a shaky foundation in the futures markets, with all major indexes in the red, while gold got hammered almost 3%, as one entity unloaded …