[Chart courtesy of MarketWatch.com] Moving the markets The futures market was hit hard last night with the Dow being down some 500 points, while the S&P 500 got hammered at the tune of -2.4%. By the time, the regular session opened, some of these losses had already been made up, and we started the day with the Dow in the …
Markets In Retreat Mode
[Chart courtesy of MarketWatch.com] Moving the markets After an early meandering around their respective unchanged lines, the major indexes took a sudden steep dive and quickly red numbers spread across traders’ computer screens. The scramble to find the culprit was on. Turns out that news by the India press that US-China trade negotiations had hit a brick wall, and thereby …
Fed Does Not Cave To White House Demands — Holds Rates Steady, Disappoints Markets
[Chart courtesy of MarketWatch.com] Moving the markets The session started with the major indexes edging higher, that is until the Fed came out stating that current “policy is appropriate with no bias to hike or cut.” Powell further elaborated that U.S. inflation is “possibly being dragged down by ‘transitory’ forces” and that their current stance is “appropriate right now” and …
An Early Struggle Followed By A Late Rebound
[Chart courtesy of MarketWatch.com] Moving the markets A sudden mid-morning drop pulled the major indexes further south, after an already weak opening caused by Google’s poor report card, which showed that revenue growth cooled off in Q1 and all major sales categories performed worse than projected. The punishment was immediate with the stock price being down some 8%. Not helping …
A Green Monday
[Chart courtesy of MarketWatch.com] Moving the markets While the major indexes closed in the green to start the week, the gains were minor despite the Nasdaq scoring back to back record closes. The S&P 500 managed to notch a new intra-day high but slipped into the close barely finding support above the unchanged line. The index has now reached an …
Markets Under Pressure
[Chart courtesy of MarketWatch.com] Moving the markets The markets came under pressure this morning with the Dow dropping some 250 points right at the opening. 3M was the contributor to this downside move as earnings disappointed, but more importantly, the company slashed forward guidance for 2019 and reduced its workforce by 2,000. The punishment was immediate with the stock skidding …