[Chart courtesy of MarketWatch.com] Moving the Markets Sure, why not? After hurricane Harvey’s strike in Texas, which is still trying to get a handle on the amount of devastation and costs to rebuild, Irma struck Florida this weekend wreaking havoc in many parts, but the hit turned out to be less forceful than expected. That fact, combined with N. Korea …
Financials Tumble; Major Indexes End Mixed; Dollar Plunges
[Chart courtesy of MarketWatch.com] Moving the Markets A host of events joined forces to keep equities in a state of uncertainty. It started with an ugly jobs data report showing that jobless claims spiked the most in 12 years, in part due to hurricane Harvey’s economic effects many of which are still unknown. Not helping matters was the announcement that …
Energy Rebound Assists Equities
[Chart courtesy of MarketWatch.com] Moving the Markets The markets were in rally mode, albeit modest, right after the opening bell and never looked back with the S&P 500 gaining +0.31%. Contributing to today’s bullish mood was some de-escalation with N. Korea, as Trump announced that “war was not first priority,” before agreeing to a 3-month debt-ceiling-can-kicking extension deal ending on …
Equities Skid As Uncertainty Reigns
[Chart courtesy of MarketWatch.com] Moving the Markets In addition to the usual menu of concerns, there were a few new ones that helped the markets end their multi-day winning streak. Besides the lack of progress with the Trump pro-growth agenda and continued saber rattling with N. Korea, another monster hurricane named Irma is threatening the coast of Florida prompting the …
Mission Accomplished: S&P Closes In The ‘Green’ For August
[Chart courtesy of MarketWatch.com] Moving the Markets The past few days, I have commented on the fact that the S&P was in danger of notching its first losing month in 2017, and that there was a good chance efforts would be made to push the index in the ‘green.’ That’s exactly what happened and, even though we managed to add …
When Only Good News Matters
[Chart courtesy of MarketWatch.com] Moving the Markets Even though I was a little facetious yesterday when commenting that the S&P needs to rally for the remaining 3 sessions of August to maintain its spotless record of rising every month, today was a step in the right direction. The Dow and Nasdaq managed to climb into the “green,” and the S&P …