[Chart courtesy of MarketWatch.com] Moving the markets The constant vaccine hype ran out of steam today, with concerns turning to rapidly accelerating economic shutdowns coast-to-coast, which for sure will hammer the US economy and others as well. As a result, the markets fizzled, but the pullback, while broad, was modest in scope. After all, a pause after the recent ramp …
Latest Vaccine News Ignites Equities
[Chart courtesy of MarketWatch.com] Moving the markets The futures were again directing the way via an ecstatic “hope” move in the markets with ZH narrating it this way: Last night, when discussing the euphoric surge in Sunday markets, we said that the move is on expectations that the “Moderna covid vaccine may hit as early as tomorrow, and a favorable …
Losing Support And Dumping Into The Red
[Chart courtesy of MarketWatch.com] Moving the markets The futures market already indicated that volatility was on its way, with the indexes slipping around 1%, then trimming their losses and vacillating around their respective unchanged lines. Moving into the regular session, the Dow and S&P 500 never saw the light of day and stumbled around in negative territory, then losing footing …
Searching For Clarity
[Chart courtesy of MarketWatch.com] Moving the markets In the futures markets, we saw stocks in rally mode, including the Nasdaq staging a comeback. The US dollar inched higher, thereby keeping a lid on gold’s attempts to rebound. The tug-of-war between surging infections and prospects for a new effective Covid-19 vaccine had the latter coming out ahead by lending support to …
Lackluster Meandering
[Chart courtesy of MarketWatch.com] Moving the markets The global rally fizzled out with only one of the major indexes making some headway, namely the Dow, as the S&P 500 slipped slightly into the red, while the Nasdaq sell-off continued, albeit at a lesser pace leaving the index down -1.37% for the day. Pfizer’s vaccine stock fest hit some reality today …
Vaccine Pump Fest Propels Markets
[Chart courtesy of MarketWatch.com] Moving the markets If you were looking for wild and whacky market behavior, look no further, you found it today. Not only were futures up across the board, including gold, and led by the technology sector, things reversed once the regular session opened. With the Dow being up some 1,500 points, and losing almost half of …