[Chart courtesy of MarketWatch.com] Moving the markets The stimulus effort by the People’s Bank of China to combat the economic impact of the coronavirus set a positive tone for world markets early on, with the domestic ones opening sharply higher aided by another short squeeze. It was simply a matter of investors gaining confidence in that central bankers will take …
Optimism Reigns
[Chart courtesy of MarketWatch.com] Moving the markets After Friday’s drubbing, and in view of China’s stock market getting clobbered at the tune of some -8%, domestic equities jumped right after the opening bell. While the latter part of the session was flat, the major indexes made up some lost ground in part thanks to optimism that the coronavirus will be …
Upbeat Earnings Overpower Virus Concerns
[Chart courtesy of MarketWatch.com] Moving the markets Right after the opening bell, the markets headed south following the global negative sentiment caused by a sell-off in Asia, as coronavirus issues again fanned fears of slowing economic growth worldwide. Concerns about the epidemic’s impact first overpowered upbeat earnings news from Microsoft and Tesla, with airline stocks falling due to the travel …
Going Nowhere
[Chart courtesy of MarketWatch.com] Moving the markets In the end, today was nothing but one gigantic roller coaster ride, as an early rally lost steam, then found some fresh upward momentum, which was all given back at the close. Maybe the early pump was the result of Apple’s blow-out earnings announced yesterday after the close, but it sure had no …
Climbing Out Of A Hole
[Chart courtesy of MarketWatch.com] Moving the markets Despite coming off the intra-day highs at the close, the major indexes managed to climb out of hole, and close in the green for the first time in the past three trading sessions, although a major short-squeeze gave an assist in that effort. Coronavirus fears subsided a little, as China appears to have …
Facing A Sea Of Red
[Chart courtesy of MarketWatch.com] Moving the markets As was no surprise, more fallout from the coronavirus over the weekend made its presence felt with all markets showing red numbers. Again, given the relentless melt up since October, a correction was way overdue, and this one occurred as black swan event by coming out of nowhere and resulting in the first …