[Chart courtesy of MarketWatch.com] Moving the markets An early attempt by the major indexes to cling to their respective unchanged lines proved to be a futile one, when mid-day the bears stormed out of hibernation. All equities were slammed, and a sea of red was the inevitable result. Even slipping bond yields could not stem the tide, but at least …
Tech Fights Back
[Chart courtesy of MarketWatch.com] Moving the markets After getting pulled off its lofty level last week, the tech sector showed signs of life and built on Friday’s modest rebound by gaining +1.23% for the day. While all three major indexes ended in the green, today’s rotation was from “value” into “big-tech growth,” thereby leaving SmallCaps in the dust. ZH equated …
Cranking Yields = Tanking Nasdaq
[Chart courtesy of MarketWatch.com] Moving the markets Well, that did not last very long. Even though the Fed’s most dovish words yesterday were able to soothe markets and produce a bounce back from early losses, today was a different day. Bond yields suddenly surged, up 11 basis points intraday to 1.75% for the 10-year, but they came off that high …
Stimulated By The Fed
[Chart courtesy of MarketWatch.com] Moving the markets As I suggested yesterday, the Fed’s guidance on interest rates could push markets one way or another. That’s exactly what happened by stocks exploding higher, with the S&P 500 and Nasdaq having to crawl out of an early hole, after the Fed’s statement indicated more dovishness than expected. Postulated ZH: And since it …
Lackluster Meandering
[Chart courtesy of MarketWatch.com] Moving the markets “Uninspiring” best describes today’s session during which we saw the Nasdaq storming ahead of the other 2 major indexes by sporting early gains of more than 1%. Mid-day, the positive vibes stopped, and the Nasdaq suddenly plunged into the red but managed to crawl out of that hole and slightly into the green. …
Conquering An Early Tumble
[Chart courtesy of MarketWatch.com] Moving the markets An early pop was shadowed by a mid-day drop, which was then followed by one more pop in the indexes with the Dow scoring another record high as economic reopening optimism prevailed. The early plunge was the result of negative news from several European countries about blood blot concerns by vaccine developer AstraZeneca. …