[Chart courtesy of MarketWatch.com] Moving the Markets Despite past warnings by the Fed that more interest hikes might be forthcoming, reality appears to show a different picture. As I have posted almost daily, the 10-year bond yield spiked and made its high for the year in early March at 2.62%, after which it zigzagged to a low of 2.05% earlier …
Bullish Mood Prevails
[Chart courtesy of MarketWatch.com] Moving the Markets Despite sudden market weakness developing late in the session, with technology and biotech being spooked the most, the major indexes recovered a good chunk of their early gains and ended in the green with the Dow notching its 40th record close of the year. Helping matters were reduced tensions between N. Korea and …
Weak Economic Data Keeps Markets In Check
[Chart courtesy of MarketWatch.com] Moving the Markets While the Dow managed to close in the green for the 3rd straight session in a row, the broader market sagged a little based on weak retail shares that had the sector (XRT) giving back -0.72%. A couple of other numbers did absolutely nothing to instill confidence in an already declining economy. Consumer …
Late Buying Pushes Markets Into Record Territory
[Chart courtesy of MarketWatch.com] Moving the Markets The respective unchanged lines appeared to be the magnet for the major indexes throughout most of the session, as they bounced above and below it until late buying pushed them into the green for good, and we registered another record close. The gains were tiny, but they were gains nonetheless. As the chart …
Extending The Rally
[Chart courtesy of MarketWatch.com] Moving the Markets After yesterday’s massive rebound, the major indexes continued with their bullish theme supported by Treasury Secretary Mnuchin’s words that he’s hopeful a tax overhaul can be accomplished by the end of the year. He also hinted that they’re considering backdating any reform to the beginning of 2017. That’s all it took, and stocks …
Hurricane Irma Strikes…Markets Rally
[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 …