[Chart courtesy of MarketWatch.com] Moving the markets The futures markets looked downright ugly last night with Dow being down over 400 points, as the fallout from Wall Street-friendly Gary Cohn’s resignation made headlines around the world. The weakness spread into today’s session early on, but by mid-day a slow and steady crawl back materialized with the Nasdaq gaining, the Dow …
Markets Resemble A Bucking Bronco
[Chart courtesy of MarketWatch.com] Moving the markets The S&P 500 chart clearly demonstrates the kind of trading session we saw today with wild swings in the averages, below and above their respective trend lines, resembling a bucking bronco. In the end, the bulls notched a victory and scored modest gains. There were only two news items which created this wild …
Snapping The Losing Streak
[Chart courtesy of MarketWatch.com] Moving the markets After last week’s drubbing, and an early morning pullback, the major indexes managed a broad-based bounce back with Wall Street traders looking past the trade war rhetoric by focusing on economic data and hope that the sell-off was overdone. Even political uncertainty in Italian elections, where a populist anti-euro party made a better-than-expected …
Trifecta Of Events Sends Markets Into Tailspin
[Chart courtesy of MarketWatch.com] Moving the markets For the third day in a row, the major indexes got spanked again notching their worst decline in some three weeks as a trifecta of events combined to give the bears the upper hand. First, there was Fed chair Powell, who has left the markets guessing how he feels about inflationary pressures by …
Stocks Have That Sinking Feeling…Worst Month In Two Years
[Chart courtesy of MarketWatch.com] Moving the markets Today, it was economic data points that caused increased market volatility and sent the major indexes into a tailspin closing at the lows of the day. We started the session on a positive note, then bounced around the unchanged line for a while and finally accelerated to the downside with the S&P and …
Rate Hike Fears Take Front And Center; Markets Shift Into Reverse
[Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s calming speeches by 2 of the Fed’s mouthpieces (Bullard and Quarles) regarding inflation and interest rates are not only in the rear view mirror now but long forgotten as new Fed chair Powell took center stage and gave his first congressional testimony. He focused on the strengthening economy with the result that …