[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 …
Earnings Power Rebound
[Chart courtesy of MarketWatch.com] Moving the markets The rebound continued into its second day with Monday’s losses now having been completely recaptured by all three major indexes. Better-than-expected earnings helped power the revival with Coca-Cola and Johnsen & Johnsen stoking the bullish attitude. The bounce-back was broad based with Small Caps (VBK) adding another +1.31%, but they were slightly …
Rebounding With A Vengeance
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets last night already indicated positive numbers, a trend which continued into the regular session. The major indexes opened higher and never looked back, which resulted in a solid bounce back after yesterday’s thrashing. Most of Monday’s losses were recovered, as dip buyers stepped in to take advantage of the Dow’s …
Delta Variant Infects Stock Market
[Chart courtesy of MarketWatch.com] Moving the markets Concerns, that rebounding Covid cases, especially those identified as a Delta variant, could negatively affect an already stumbling recovery in economic activity, pulled the rug out from under the bullish theme and spanked the major indexes along with the broad market. At one point, the Dow was down over 900 points but managed …