[Chart courtesy of MarketWatch.com] Moving the markets With no adverse trade news making the headlines, it was Apple’s (AAPL) day to shine as it not only lifted the indexes but also managed to become the first $1 trillion company—ever. The S&P 500 and the Nasdaq gained solidly after a slow start at the opening, but then rocketed higher without looking …
An Early Rally Fizzles But Tech Gains
[Chart courtesy of MarketWatch.com] Moving the markets There was some afterglow this morning with the major indexes storming into positive territory on the heels of Apple’s blow out earnings report, which was released yesterday afternoon. However, the initial euphoria was short-lived and faded as reality set in via a variety of events pushing 2 of the 3 indexes back into …
Tech Weakness Keeps Markets Slipping
[Chart courtesy of MarketWatch.com] Moving the markets I am on the road today and tomorrow, so the market reports may be delayed… The technology sector (QQQ) continued unraveling by not only logging a third straight session in the red but also closing at its lowest level in more than 3 weeks. It’ll be interesting to see if the 4-month long …
Diverging Markets
[Chart courtesy of MarketWatch.com] Moving the markets As I pointed out yesterday, Facebook’s (FB) horrific earnings report and news of further revenue deceleration for the second half of this year did spread to the Nasdaq, which stumbled and surrendered most of yesterday’s gains. Not only did FB end up losing $123 billion of its market cap, insider trading rumors are …
Easing EU Trade Tensions Propel Equities; International “Buy” generated
[Chart courtesy of MarketWatch.com] Moving the markets Trade tensions were on the front burner again, but this time not with China but with the EU, as President Trump and EU President Juncker met and hailed a new phase in trade relations. The White House meeting ended with the following positive joint statement: “We agree today, first of all, to work …
Shrugging Off A Massive Tech Reversal
[Chart courtesy of MarketWatch.com] Moving the markets Something odd is going on in the markets besides the Chinese Yuan having crashed more in the last 30 days than at anytime in history not counting the 2008 Great Financial Crisis. Yesterday, it was the sudden 10-year bond yield spike to its highest level in 5 months. Today, it was a huge …