[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 …
Vaccine News + Short Squeeze = Higher Stocks
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets pointed to higher equity prices, as AstraZeneca became the latest competitor in the Covid-19 vaccine creation fest saying its product would be 90% effective. News over the weekend that the first vaccine could be available within weeks after the anticipated FDA approval in mid-December helped the market continue its northerly …
Tech Sector Stages Revival
[Chart courtesy of MarketWatch.com] Moving the markets The tech sector, which had been lagging the major indexes for a few weeks, staged a comeback today, as traders suddenly considered it to be some sort of safety play in the face of mounting Covid-19 incidents. As a result, the Nasdaq outperformed the Dow and S&P 500 by a substantial margin. For …
Losing Support And Dumping Into The Red—No Time For Complacency
[Chart courtesy of MarketWatch.com] Moving the markets The tug-of-war between vaccine giants Pfizer and Moderna shifted into overdrive with the former now besting the latter by pointing to its final analysis, which verified a 95% effective rate vs. Moderna’s previous 92%. I am sure that we have not heard the last of it. The news of that advancement was offset …