[Chart courtesy of MarketWatch.com] Moving the markets An early follow through rally hit the skids and reversed with the major indexes ending up closing in the red. It seems that yesterday’s attempt by the White House to try to revive the trade carrot ran out of steam, when China’s Global Times editor signaled that there appears to be no great …
The Trump Pump: One Phone Call Saves The Markets
[Chart courtesy of MarketWatch.com] Moving the markets I was watching the futures markets last night as the major indexes were getting hammered on a follow through move from Friday’s sell-off. Even early this morning, the Dow had plunged 200 points when Trump suddenly announced that “China called our trade people last night and said let’s get back to the table.” …
Riding The Range
[Chart courtesy of MarketWatch.com] Moving the markets An early rally fizzled, as uncertainty over the outlook of interest rates kept traders on edge, especially due to the upcoming Fed statement regarding the Jackson Hole meetings. I think Fed head Powell’s position on rates is well known, and his upcoming speech on Friday is likely to disappoint those hoping for more …
The Roller Coaster Continues
[Chart courtesy of MarketWatch.com] Moving the markets Good earnings by consumer heavyweights Target, Lowe’s and Home Depot set the bullish mood early on and pushed equities up to a level that they sustained throughout the session. All of yesterday’s losses were wiped out with the S&P 500 closing exactly at Monday’s price. The Fed minutes did not offer any earthshaking …
Aimless Meandering—Then A Dive Into The Close
[Chart courtesy of MarketWatch.com] Moving the markets Numerous attempts by the major indexes to break above their respective unchanged lines were rebuffed, as they ended up diving into the close and breaking a 3-day win streak. Despite Home Depot’s better than expected quarterly results, the markets struggled for altitude all day with worries about the strength of the US economy, …
Trade Hope And A Short Squeeze Combine To Keep The Rally Going
[Chart courtesy of MarketWatch.com] Moving the markets Friday’s rebound did not die today but continued full force thanks to Trump’s successful jawboning about the trade talks. It was more of a concession towards the Chinese telecom giant Huawei, which received a 90-day reprieve, during which it can continue to do business with American companies without needing a case-by-case license. Reports …