[Chart courtesy of MarketWatch.com] Moving the markets With both warring parties looking to find common ground for a stimulus package, demands had been considerably dropped from the original over $2 trillion to a far more modest $907 billion. Optimism prevailed early on when a more comfortable number of $600 billion was circulated. However, nothing was decided, but the markets were …
Looking For A Catalyst—And Finding It
[Chart courtesy of MarketWatch.com] Moving the markets Expectations and reality were at odds this morning when the Labor Market Index weakened yet Bond yields spiked with the 10-year trading just above 0.95% and approaching critical resistance. Sure, the weakening Labor Market Index was the result of the latest miss on ADP employment with data coming in at a disappointing 307k …
Storming Into December
[Chart courtesy of MarketWatch.com] Moving the markets An early rally got cut down, especially in the Dow, but the major indexes managed to eke out solid gains to start the December by continuing the bullish theme of November. The S&P 500 and Nasdaq scored new record closing highs, but the Dow was not able to remain above its 30k level. …
Fading Into The End Of The Month
[Chart courtesy of MarketWatch.com] Moving the markets Despite the Dow having had its best month since 1987, the last day of November proved to be a downer with the major indexes slumping led by the Dow with the Nasdaq holding up the best. This pretty much reflects this year’s performance when, despite the hype accompanying the Dow reaching the $30k …
Pulling Back From All-Time Highs
[Chart courtesy of MarketWatch.com] Moving the markets As could be expected, trading volumes slowed to a crawl ahead of the Thanksgiving holiday. The Nasdaq finally managed to score a winning session, handily beating the S&P 500, after having lagged over the past few weeks. On the economic side, things don’t show much improvement with the Labor Department reporting that Initial …
Hope For 2021 Recovery Stokes Markets
[Chart courtesy of MarketWatch.com] Moving the markets More positive vaccine news coupled with newfound hope for a strong economic recovery next year and some easing of political uncertainty, although the election has not been decided yet, combined forces to propel the markets higher. A well-timed short-squeeze lent an assist again. This weighed heavily: Traders also cheered on Tuesday the increasing …