[Chart courtesy of MarketWatch.com] Moving the markets The basic law of physics tells us that any ‘action’ is followed by an equal or greater ‘reaction.’ This became very clear today when, after Trump’s threat of additional tariffs last week, the Chinese retaliated by letting their currency, the Juan, float freely by removing the US dollar peg. The Juan dropped to …
The Circus Continues: When Terrible News Is Good News; And Bad News Is Bad News
[Chart courtesy of MarketWatch.com] Moving the markets Sometimes you just have to laugh out load. Today was such a day, as data showing that US Manufacturing dropped to its weakest in 10 years, or more specifically since September 2009. One analyst suggested that the goods producing sector is “on course to act as a significant drag on the economy in …
Fed Cuts Rates But Disappoints Wall Street—Markets Tank
[Chart courtesy of MarketWatch.com] Moving the markets The Fed did what was expected by cutting interest rates by 0.25% for the first time in 11 years. Of course, on Wall Street, expectations don’t mean much, unless you beat them. The Fed failed to do that, and the markets tanked with the Dow at one point being down some 400 points. …
Slumping On Weak Earnings
[Chart courtesy of MarketWatch.com] Moving the markets While the major indexes recovered form an early session dump, they pretty much repeated yesterday’s theme by slipping and sliding below the unchanged line without much directional conviction. A mixed earnings picture today, along with some negative tweets from Trump regarding a possible China deal, added to today’s uncertainty and kept equities in …
Ahead Of The Fed: Markets Limp Along
[Chart courtesy of MarketWatch.com] Moving the markets While the earnings season continues, traders were more concerned with what the Fed will decide regarding interest rates, when it concludes its two-day meeting on Wednesday. Will they deliver another hoped for sugar high for the economy and the markets, or will the outcome be a dud? A 0.25% reduction in rates has …
Scrambling Below The Unchanged Line
[Chart courtesy of MarketWatch.com] Moving the markets There was not much upward momentum to be found in the equities markets, as Europe set the negative tone early on with all indicators sliding into the red. The major indexes followed suit and never came close to breaking above their respective unchanged lines. The retreat came in the face of a busy …