[Chart courtesy of MarketWatch.com] Moving the markets The major indexes, except for the Nasdaq, continued last month’s bullish theme on the first trading day of May by vacillating above their respective unchanged lines, as the Dow led with a 0.70% gain. With the continual reopening of the economy retailers benefited, also supported by New York Gov Cuomo’s announcement that most …
An Early Breakdown Followed By A Late Breakout
[Chart courtesy of MarketWatch.com] Moving the markets The S&P 500 managed to find some footing, after a mid-day gag caused by surging bond yields, and scored another record close, powered by blowout earnings from the tech sector, namely Apple and Facebook. Despite their solid performances, the Nasdaq lagged the other two major indexes for the day by a wide margin. …
Stuck In Limbo
[Chart courtesy of MarketWatch.com] Moving the markets While the futures were flat, the regular session opened with a bounce for the S&P 500, while the Dow and Nasdaq hovered below their respective unchanged lines. In the end, all three indexes meandered aimlessly all day and ended slightly in the red. The much-expected Fed announcement was a nothing burger with no …
Markets Puke On News Of Capital Gains Tax Doubling
[Chart courtesy of MarketWatch.com] Moving the markets A weak opening reversed quickly, as the major indexes found enough mojo to reclaim their respective unchanged lines. That is until news struck fear in the hearts of traders because of the Biden Administration’s plan for the capital gains tax to be almost doubled. Via ZH, Bloomberg explained it this way: The plan …
Two Days Of Dropping Followed By A Day Of Popping
[Chart courtesy of MarketWatch.com] Moving the markets The futures already pointed to a reversal, with the S&P switching from red to green, which continued into the regular session, as all three major indexes attempted to wipe out the losses of the past two days. As the chart above shows, there was no hesitation nor any looking back with the bulls …
Slumping Two Days In A Row
[Chart courtesy of MarketWatch.com] Moving the markets Overnight, the Japanese markets painted a gloomy picture, as Tokyo pushed for a third COVID state of emergency with new cases spiking. Full-fledged lockdowns are being considered with the IOC possibly canceling this summer’s Olympics. That gloomy mood carried over into the US markets, with major indexes opening to the downside but never …