[Chart courtesy of MarketWatch.com] Moving the markets A lack of commitment to push the markets one way or the other was noticeably absent today, as the major indexes vacillated aimlessly around their respective unchanged lines. Not much was gained or lost, but the Nasdaq closed in the green. Today’s report on unemployment claims showed that 1.508 million more Americans filed …
Losing Steam
[Chart courtesy of MarketWatch.com] Moving the markets After three days of gains, the major indexes traded near their respective unchanged lines but dove into the red during the last hour. The exception was the Nasdaq, which gave up mid-day gains but ended up in the green. Contributing to the sell-off were reports that coronavirus cases were on the rise in …
Delightful Levitation
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets kept bullish momentum alive based on news that a live-saving steroid, dexamethasone, was found to cut the risk of coronavirus death by 35% for patients on ventilators, and 20% for those on supplemental oxygen without intubation. How this will turn out is everyone’s guess at this time, but it was …
Digging A Hole And Climbing Out Of It
[Chart courtesy of MarketWatch.com] Moving the markets The markets took a dive this morning with the Dow skidding some 500 points, as fears about a resurgence of Covid-19 spooked traders around the world. Analyst Graham Summers saw it this way: Stocks have fallen hard over the weekend again. The media is pinning this drop on the potential for another COVID-19 …
Economic Reality Punishes Markets—Did The Bubble Burst?
[Chart courtesy of MarketWatch.com] Moving the markets The futures already had pointed to a weak opening, as traders, after digesting Fed head Powell’s news conference, despite being dovish in nature, saw more negatives than positives. Despite the recent bullish theme in the indexes, Powell admitted that not all is well under then hood of the economy. Additionally, reports covering some …
Dow Dumps And Nasdaq Pumps
[Chart courtesy of MarketWatch.com] Moving the markets It seemed like a tale of two markets with the Dow fluctuating wildly and ending at its lows of the day, while the Nasdaq never touched its unchanged line and powered back above its psychologically important 10k level, where it closed. That was an important milestone to reach, and it took some 50 …