[Chart courtesy of MarketWatch.com] Moving the markets Optimism reigned supreme that Congress will finally pass another economic relief bill after wrangling with it for weeks. Apparently, the warring parties are growing wary and concerned about an economic fallout if no agreement is being attained. House Speaker Nancy Pelosi invited congressional leaders, including Senate Majority Mitch McConnell, to discuss government funding …
Leaking Lower
[Chart courtesy of MarketWatch.com] Moving the markets As solid early rally hit the skids, as the Dow performed a 330-point U-turn with two of the three major indexes closing in the red leaving only the Nasdaq above its unchanged line and sporting a +0.50% advance. As has been the case lately, SmallCaps outperformed but even that sector gave up part …
Stuck In Neutral
[Chart courtesy of MarketWatch.com] Moving the markets The rebounding efforts after yesterday’s slump already failed in the futures market, and this uncertainty carried over into the regular session with the Dow and S&P slipping, while the Nasdaq shook off weakness and closed in the green by +0.54%. Some market sectors saw solid increases, such as SmallCaps (IWO) and MidCaps (IWP), …
No Place To Hide
[Chart courtesy of MarketWatch.com] Moving the markets An early bounce in the markets disappeared in a hurry with tech shares struggling in part due to the Federal Trade Commission and state attorneys general led by New York filing an antitrust complaint against Facebook. The allegations include stifling of competition to protect its monopoly power. That announcement took down the tech …
S&P 500 Conquers The 3,700 Mark
[Chart courtesy of MarketWatch.com] Moving the markets Despite the major indexes showing early weakness, as optimism about a quick passing of the fiscal stimulus bill vanished, equities ended up finding some support. That level served as springboard for a nice mid-day rally, which kept the indexes in the green. As has been the case lately, and today was no exception, …
Cooling Off
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets were mixed due to fresh tensions between China and the U.S., with uncertainty rising as progress on the coronavirus relief bill was nowhere in sight. This theme carried into the regular session where two of the major indexes headed south and never crawled back out of the red zone. The …