[Chart courtesy of MarketWatch.com] Moving the markets In a repeat performance from yesterday, we watched an early rally lose steam and head back south below the unchanged line, when last minute buying pushed the Dow and Nasdaq higher to close in the green. However, the Nasdaq slid for the 4th day in a row. Ongoing concerns about rising inflation and …
Equities Dive As Bond Yields Spike
[Chart courtesy of MarketWatch.com] Moving the markets We started today’s session on a positive note when the major indexes suddenly ran into a brick wall, reversed course and headed south with a vengeance with the Dow giving up a 300 point gain and plunging 500 points. The day turned out tumultuous, after the minutes from the Fed were released, causing …
Snapping A 6-Day Win Streak
[Chart courtesy of MarketWatch.com] Moving the markets There was nothing exciting about today’s session other than a brief mid-day climb above the unchanged line, after which the major indexes hit the skids with the Dow and S&P snapping a 6-day winning streak. It’s still too early to determine if today’s action was the end of the current dead-cat bounce, as …
Equities Pump And US Dollar Dumps
[Chart courtesy of MarketWatch.com] Moving the markets The equity bounce continued for the fifth day in a row, as the major indexes started the session in the positive, then dropped below the unchanged line and subsequently surged in a V-shape type recovery without looking back to close at the highs for the day. I took the opportunity during the momentary …
Market Madness: CPI Surges, Dollar Collapses, Bond Yields Up But Stocks Rally
[Chart courtesy of MarketWatch.com] Moving the markets Sometimes you just have to laugh when you see the type of chaos in the markets that we saw today. The widely anticipated Consumer Price Index (CPI) reading came in much “hotter” than expected as it surged 0.5% in January. Consequently, bond yields spiked with the 10-year adding 8 basis points to close …
Fed Head Saves The Day
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes slipped right after the opening bell and remained below their respective unchanged lines for most of the day but ended up crawling into the green to close with modest gains. Saving the day was new Fed Head Jay Powel after uttering words like financial stability, which was music to the …