[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 …
Shutdown Ends: Markets Rally
[Chart courtesy of MarketWatch.com] Moving the markets It does not seem to matter what the news is, it’s all good for the markets. Friday’s fear of a looming government shutdown elevated the major indexes into record territory. Today’s announcement that the Senate moved to end the shutdown only 3 days later caused the markets to continue their record setting pace …
Hitting The Pause Button
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes started the day in negative territory, recovered and moved briefly above the unchanged line but then sold off into the close resulting in minor losses. While the Dow managed to hang on to its 26k level, the S&P slipped below its 2,800 milestone and tied the longest stretch in history …