[Chart courtesy of MarketWatch.com] Moving the markets A variety of factors combined to knock down equities with the 10-year bond yield getting whacked around like a rubber ball in a trampoline factory. First, General Motors dropped some 7%, which weighed heavily on the broad market as the automaker missed earnings expectations, but it managed to issue a positive guidance for …
From Zero To Hero
[Chart courtesy of MarketWatch.com] Moving the markets A sloppy opening and quick pullback put the major indexes on the defensive with all three of them sinking into the red. It was a reversal from yesterday’s action when an early pump turned into a late dump. Bond yields proved to be the stabilizing factor with 10-year yields rebounding from Monday’s drop …
Thriving And Diving
[Chart courtesy of MarketWatch.com] Moving the markets An early rally hit the skids with the major indexes giving back all their substantial initial gains. The exception was the Nasdaq, which managed to end up fractionally above its unchanged line. Contributing to this sudden transformation in sentiment were the same old standbys, as Covid variants and slowing economic growth overwhelmed strong …
Mixed Fed Message Keeps Markets In Limbo
[Chart courtesy of MarketWatch.com] Moving the markets Despite an initial jump after the Fed’s dovish FOMC statement, during which Fed head Powell hinted that “substantial further progress” would be necessary before any type of tapering, hiking, or tightening would occur, markets slumped. He was referring to stronger job numbers and advances towards maximum employment. Strangely enough, the Fed did not …
Uncertainty Reigns—Equities Tumble
[Chart courtesy of MarketWatch.com] Moving the markets A couple of forces combined to slap the major indexes around until, late in the session, the markets found some footing and managed to reduce the early losses. Leading the charge to the downside was what appeared to be the bursting of the tech bubble in China, with its Hang Seng Tech index …
Inching Higher
[Chart courtesy of MarketWatch.com] Moving the markets Touching new all-time highs seems to be a regular occurrence, and today was no exception with the S&P 500 hovering again in record territory. That came as a surprise, as in overnight trading the Chinese tech stocks were a bloodbath again, as Beijing’s crackdown intensified. So far, the US markets seem to be …