[Chart courtesy of MarketWatch.com] Moving the markets An early rebound faltered, and the major indexes declined below the unchanged line but managed to crawl back into positive territory to close out the month with solid gains. The Dow added +5.8%, its best January since 1997, while the S&P 500 and Nasdaq rallied +5.6% and +7.4% respectively. The culprit for the …
Major Indexes Down For 2nd Straight Day
[Chart courtesy of MarketWatch.com] Moving the markets It should be no surprise to anyone that, given the tear the markets have been on over the past 14 months without much of an interruption, a correction or pullback was way overdue. Weakness was broad based with the main culprits being healthcare, technology, energy and financials. Especially, some of the diving healthcare …
10-Year Bond Yield Pumps And Equities Dump
[Chart courtesy of MarketWatch.com] Moving the markets A host of news events combined forces to pull equities off their lofty levels with the S&P 500 having its worst day in 5 months, while bonds had their worst day in 6 weeks. First, there were the NAFTA negotiations, which appeared to be progressing well, but the fly in the ointment was …
Whip-Saw Day Keeps Dow & S&P In The Green
[Chart courtesy of MarketWatch.com] Moving the markets Treasury secretary Mnuchin’s remarks pushed the dollar (UUP) even lower, but in the end, the day was saved by President Trump stepping in with the soothing words that Mnuchin’s statement was taken out of context and a long-term strong dollar policy was still the administration’s goal. This pumped the dollar back up, after …
One Man’s Jawboning Drags Down Markets; US Dollar Gets Clobbered
[Chart courtesy of MarketWatch.com] Moving the markets Things looked pretty hunky dory after the opening with the major indexes storming again into record territory. Then the hammer came down in form of Commerce Secretary Ross’s comments. Bloomberg reported as follows: ROSS: CHINA `SUPERB’ TALKING FREE TRADE, ACTING PROTECTIONIST ROSS: STEEL FORUM HAS MADE `ZERO DIFFERENCE’ FOR OVERCAPACITY ROSS: CHINA IS …
New Highs for S&P 500 and Nasdaq
[Chart courtesy of MarketWatch.com] Moving the markets Two of the three major indexes stormed into record territory again after upbeat earnings boosted investor sentiment, and the bulls shifted into overdrive ignoring the Dow’s weakness. Helping matters was Netflix’s rally, as it topped the $100 million market cap. Also throwing in an assist was the ending of the government shutdown, although …