[Chart courtesy of MarketWatch.com] Moving the Markets This one came out of left field. Fed chair Yellen’s testimony before congress was interpreted as “dovish” an odd statement given the recent jawboning about “asset prices looking rich.” After weeks of talking about higher rates and reducing its balance sheet, did the Fed just flip flop and acknowledge once again its ignorance? …
Another Roller-Coaster Ride
[Chart courtesy of MarketWatch.com] Moving the Markets An early climb back to the unchanged line unraveled all of a sudden as the markets reversed and plunged on news about Trump Jr. releasing a chain of emails alleged to have played a role of Russian involvement in the Trump Sr. election. The soap opera continued for a while but, after the …
Tech Sector Saves The Day
[Chart courtesy of MarketWatch.com] Moving the Markets The Nasdaq managed to hold on to most of its early gains, while the Dow dropped back in the red. The S&P essentially closed unchanged, as a last hour sell off contributed to turn this session into a mixed bag. Semiconductors, which we hold via SMH, fared very well by adding +1.03% while …
Bonds, Equities And Dollar Drop As Interest Rates Rise
[Chart courtesy of MarketWatch.com] Moving the Markets The debacle started in Europe, as ugly bond auctions in France and Spain set a negative tone for the day, which quickly spread across the Atlantic pushing US interest rates higher (and bond prices lower) while pulling equities off their lofty levels with the Nasdaq surrendering -1%. Not helping was the German Bond …
Nasdaq Outperforms; Energy Sector Gets Slammed
[Chart courtesy of MarketWatch.com] Moving the Markets It was a tale of two markets as the Nasdaq was propelled higher with semiconductors (SMH) reversing their recent downtrend by charging ahead +1.90%. The Dow closed about unchanged, while the S&P 500 managed to eke out a small gain of +0.15%. Things looked ugly in the energy sector as oil got hit …
Volatility Spike Kills Equities
[Chart courtesy of MarketWatch.com] Moving the Markets If you viewed Wednesday’s market ramp with the benefit of hindsight by looking at today’s losing session, it would appear that yesterday was a blow-off top; or so it seems. There was nothing positive surrounding equities, which ended up down for the day but, considering that the VIX at the lows had jumped …