[Chart courtesy of MarketWatch.com] Moving the markets After an early morning pullback, the floodgates opened with buyers appearing in full force and pushing the major indexes higher with the Nasdaq closing at another record, while the Dow sported its best day in almost 2 months. Since there were no news to justify the run-up, the VIX was pushed down to …
Treasury Yields Rise—Stocks Follow Suit
[Chart courtesy of MarketWatch.com] Moving the markets Markets behaved today as if a world of worry had simply disappeared. Still on a positive high from Friday’s jobs reports, upward momentum led to another green session for the major indexes. The main driver was the tech sector, which posted its first record close since the middle of March. None of the …
The Roller Coaster Ride Continues
[Chart courtesy of MarketWatch.com] Moving the markets While worries about Italy’s politics faded for the moment, they were quickly replaced by news of a new Spanish PM, with a very critical view of the European Union, causing more uncertainties in the markets. However, taking top billing was the Trump administration’s confirmation imposing steel and aluminum tariffs on the EU, Mexico …
When Bad News Is Good News
[Chart courtesy of MarketWatch.com] Moving the markets The Italian bond panic subsided somewhat as their 2-year yield dropped sharply from yesterday’s 5-year high of 2.84% to as low as 1.925%, which reassured wobbly markets that life still goes on as it helped a rebound in equities. Here in the U.S. the old “bad news is good news” scenario emerged with …
Financial Chaos In Italy = Dumping Equity Markets
[Chart courtesy of MarketWatch.com] Moving the markets Italy’s political turmoil, along with its banking crisis, which I alluded to last Friday, continued over the weekend and into today pushing worldwide markets to the downside. The major indexes took a hit as well but recovered slightly late in the session, which some observers thought to be an appearance by the Plunge …
Equities Dive And Thrive
[Chart courtesy of MarketWatch.com] Moving the markets The Major Indexes took a steep dive right after the opening bell caused by geopolitical concerns, as President Trump canceled the widely anticipated summit with N. Korea’s Kim Jong Un. The reason given was alleged “open hostility” from the country. Not helping matters was weakness in the energy sector (-1.7%) and in financials …