[Chart courtesy of MarketWatch.com] Moving the markets The whipsaw moves in the major indexes continued with utter abandon when, after a nice rebound high for the session, markets hit a glass ceiling and tumbled back into the red. Traders were on edge early on when the futures failed to recover from Wednesday’s spanking, as a host of Fed speakers urged …
Tech Dumps Again—Bears Regain The Upper Hand
[Chart courtesy of MarketWatch.com] Moving the markets After equities appeared to have found some footing yesterday, resulting in a short bounce this morning, it was all downhill afterwards with the Nasdaq leading the charge into the red, as September’s struggles continued. Added CNBC: The S&P 500 and Dow are down 7.5% and 5.9%, respectively, for the month. The Nasdaq has …
The Day After: Recovering From The Selloff
[Chart courtesy of MarketWatch.com] Moving the markets Despite staggering around their respective unchanged lines for most of the session, a mid-day burst propelled the major indexes solidly into the green with the Nasdaq leading the charge. The S&P 500 snapped a 4-day losing streak supported by soothing words from the Fed: Traders also digested remarks by Federal Reserve Chairman Jerome …
Markets Dump—No Place To Hide
[Chart courtesy of MarketWatch.com] Moving the markets As the futures last night indicated, today would be a downer for the markets, and that’s exactly how it turned out. The Dow was down over 900 points mid-day but recovered to “only” close in the red by some -500 points. The other two major indexes slumped in similar fashion but recouped better …
The Roller Coaster Ride Accelerates
[Chart courtesy of MarketWatch.com] Moving the markets Yesterday, I pointed towards more choppiness in the markets and, as if on command, we witnessed a wild roller coaster ride today. It started with a huge dump, followed by a pump to the unchanged line, which was followed by another dump and a failed last-ditch effort to get to green. The futures …
Fed Keeps Rates Unchanged—An Early Pop Is Followed By A Late Drop
[Chart courtesy of MarketWatch.com] Moving the markets The Fed did everything it could to put a positive spin on its pledge to keep rates low for the next few years: The U.S. central bank kept interest rates near zero. Members of the Fed’s policymaking committee also indicated the overnight rate could stay near zero through 2023. “With inflation running persistently …