[Chart courtesy of MarketWatch.com] Moving the markets Today, it was trade tensions that kept the markets below the unchanged line, and the bears in charge, although a rebound limited the potential losses and pushed the Nasdaq back to the breakeven point. However, the Dow dropped for the 5th straight day. Emerging markets continued their downward slide, while foreign markets in …
Emerging Markets Dump While US Dollar Pumps
[Chart courtesy of MarketWatch.com] Moving the markets If you only watched the major indexes meandering around their respective unchanged lines and closing slightly in the green, except for the Dow, you missed out on the real action in some of the emerging markets. The headlines did not cover equities but the wild activity in the foreign exchange markets (FX). The …
Hawkish Fed Puts The Break On Market Advances
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes hovered above the unchanged line for most of the session, but some volatility set in after the Fed’s (expected) announcement of a 25-bps increase in interest rates, while assuring the Wall Street crowd that the economy is not yet overheating. Yet, at the same time, Fed head Powell signaled that …
Treading Water Despite Surging Inflation
[Chart courtesy of MarketWatch.com] Moving the markets Not much mattered to the markets today, as the major indexes were stuck in a tight range with MSM seemingly ignoring or simply shrugging off the outcome of the historical meeting between Trump and Kim Jong Un. Undeterred by the flat session, bullish momentum remains in place, despite recent events to the contrary, …
Inching Up Ahead Of Summit
[Chart courtesy of MarketWatch.com] Moving the markets Market activity happened above the unchanged line today with the major indexes vacillating in bullish territory, where they closed, despite fading in the last few minutes. The reason for the late slip was nervousness about the highly anticipated summit between Trump and N. Korea’s Kim Jong Un scheduled for tomorrow. 8 of the …
Tech Tumbles And Bond Yields Flash-Crash
[Chart courtesy of MarketWatch.com] Moving the markets After the 4-day winning streak, we saw a slight pullback in the major indexes, especially in the tech sector, with the Nasdaq giving back a modest -0.70%. However, the main action happened in the bond market. Following the recent rise in yields towards the psychologically important 3% level, for the 10-year bond, the …