[Chart courtesy of MarketWatch.com] Moving the markets Early weakness gave way to a mid-day pump, which was followed by a date session rip with all three major indexes closing in the green. The laggard again was the Nasdaq, as “value” continued outperform “growth.” YTD, the Russell 1000 Value index has gained 17%, while the Russell 1000 Growth Index shows only …
Walking Back “The Talk”
[Chart courtesy of MarketWatch.com] Moving the markets Supporting the initial comeback bounce in the markets was Treasury Secretary Yellen, who completely reversed her hawkish talk on interest rates. ZeroHedge presented it this way: “Let me be clear it’s not something I’m predicting or recommending,” Yellen says about rates, flip-flopping her earlier perspective entirely. Then she addressed the issue of inflation, …
Fear Of Higher Rates Spanks Markets
[Chart courtesy of MarketWatch.com] Moving the markets After yesterday’s strong bullish bounce into May, the picture looked anything but warm and fuzzy this morning, when the major dropped sharply but managed to rebound off their lows, however, only the Dow climbed back into the green. The Nasdaq had its worst day since March, as fears of rising inflation, concerns of …
Surging Into May
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes, except for the Nasdaq, continued last month’s bullish theme on the first trading day of May by vacillating above their respective unchanged lines, as the Dow led with a 0.70% gain. With the continual reopening of the economy retailers benefited, also supported by New York Gov Cuomo’s announcement that most …
An Early Breakdown Followed By A Late Breakout
[Chart courtesy of MarketWatch.com] Moving the markets The S&P 500 managed to find some footing, after a mid-day gag caused by surging bond yields, and scored another record close, powered by blowout earnings from the tech sector, namely Apple and Facebook. Despite their solid performances, the Nasdaq lagged the other two major indexes for the day by a wide margin. …
Stuck In Limbo
[Chart courtesy of MarketWatch.com] Moving the markets While the futures were flat, the regular session opened with a bounce for the S&P 500, while the Dow and Nasdaq hovered below their respective unchanged lines. In the end, all three indexes meandered aimlessly all day and ended slightly in the red. The much-expected Fed announcement was a nothing burger with no …