[Chart courtesy of MarketWatch.com] Moving the markets The major indexes slipped a bit as the much touted and hyped tax deal appeared to be done, and the legislation was finally sent to President Trump for his signature. It seems that the bill’s passage left investors emotionally exhausted and apathetic as the actual news was a non-event in terms of market …
Falling Off The Highs
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes slipped today as all eyes remained firmly focused on the tax package, which originally was supposed to be signed by President Trump today. However, after the markets closed, the process “hit a procedural snag” forcing another vote on Wednesday. Whether that will finally cinch the deal is everyone’s guess. Equities …
Tax Cut Expectations Propel The Major Indexes
[Chart courtesy of MarketWatch.com] Moving the markets How many times have I referred to the expected tax law changes to be responsible for powering the equity markets? Too many to recall, but it appears to be the gift that keeps on giving. Today was no different, as the major indexes ended solidly in the green. ZH summed the record run …
When A Done Deal Is Apparently Not A Done Deal
[Chart courtesy of MarketWatch.com] Moving the markets Market exuberance reigned early on and had the major indexes on track to set more record highs when jawboning by senators Rubio and Lee caused a case of severe tax-reform-anxiety. While we all thought the tax reform was a done deal, it does not appear so as questions regarding the “child tax credit” …
Fed Hikes Rates; Dow Ends At Fourth Straight Record High
[Chart courtesy of MarketWatch.com] Moving the markets Early market exuberance faded late in the session with only the Dow and Nasdaq clinging on to modest gains, while the S&P 500 slipped slightly into the red. The Fed raised the benchmark Fed funds rate by 0.25%, as expected, which was the fourth hike in the past year. The much awaited 2018 …
More Records
[Chart courtesy of MarketWatch.com] Moving the markets In a repeat from yesterday, the Dow and S&P 500 climbed into record territory for the fourth session a row, while the Nasdaq bucked the trend and slipped a tad. While tomorrow’s announcement by the Fed about a 0.25% rate hike is a foregone conclusion, some anxiousness prevails about what signals may be …