[Chart courtesy of MarketWatch.com] Moving the markets At least for today, earnings were enough of a positive to beat anxiety over trade war fears with the major indexes continuing their bullish run, reinforced by the S&P companies showing earnings growth of 24% and sales gains of 9.8%. As MarketWatch put it: “Strong earnings have helped bolster the belief that steady …
Tech Leads As Bull Run Continues
[Chart courtesy of MarketWatch.com] Moving the markets After a brief opening dip, the major indexes continued their ramp higher with the Nasdaq notching its 5th straight day of gains, as decent corporate earnings remained in focus. While our portfolio holdings have all gained in sync for the past 3 sessions, tech (QQQ) and consumer discretionaries (XLY), our latest additions, took …
Apple Saves The Day
[Chart courtesy of MarketWatch.com] Moving the markets With no adverse trade news making the headlines, it was Apple’s (AAPL) day to shine as it not only lifted the indexes but also managed to become the first $1 trillion company—ever. The S&P 500 and the Nasdaq gained solidly after a slow start at the opening, but then rocketed higher without looking …
An Early Rally Fizzles But Tech Gains
[Chart courtesy of MarketWatch.com] Moving the markets There was some afterglow this morning with the major indexes storming into positive territory on the heels of Apple’s blow out earnings report, which was released yesterday afternoon. However, the initial euphoria was short-lived and faded as reality set in via a variety of events pushing 2 of the 3 indexes back into …
Tech Weakness Keeps Markets Slipping
[Chart courtesy of MarketWatch.com] Moving the markets I am on the road today and tomorrow, so the market reports may be delayed… The technology sector (QQQ) continued unraveling by not only logging a third straight session in the red but also closing at its lowest level in more than 3 weeks. It’ll be interesting to see if the 4-month long …
Diverging Markets
[Chart courtesy of MarketWatch.com] Moving the markets As I pointed out yesterday, Facebook’s (FB) horrific earnings report and news of further revenue deceleration for the second half of this year did spread to the Nasdaq, which stumbled and surrendered most of yesterday’s gains. Not only did FB end up losing $123 billion of its market cap, insider trading rumors are …