[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 …
Bond Rollercoaster Punishes Equities
[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 …