[Chart courtesy of MarketWatch.com] Moving the Markets Last week’s upward momentum showed no signs of letting up as the rally continued today with the major indexes adding over +0.5%. The conviction is that Trump’s promised tax cut will be a boon to the economy. While that may be true, the open question as to not only its feasibility, but also …
One Promise Drives Major Indexes To Record Highs
[Chart courtesy of MarketWatch.com] Moving the Markets The stagnated rally of the past few days, during which Wall Street was looking for more details about Trump’s agenda, was revived today when he stepped up to the plate and said that “he would make a major tax announcement in a few weeks.” He also added that “lowering the overall tax burden …
Eking Out A Small Gain
[Chart courtesy of MarketWatch.com] Moving the Markets Mixed earnings and slipping bank stocks put a damper on the major indexes, which started the session below the unchanged line. This would normally be the time in the quarter where earnings are front and center, but not this time; the rally has stagnated recently, as Wall Street prefers to look for more …
Hawkish Comment Equals Uncertainty
[Chart courtesy of MarketWatch.com] Moving the Markets An early euphoric bounce, which pushed the Dow and Nasdaq to new intra-day highs faded and then took a nose-dive below the unchanged line before recovering slightly into the close. The morning strength was caused by the US dollar rallying sharply as hawkish comments from one of the Fed’s mouthpieces indicated that “March …
Slipping And Dippping
[Chart courtesy of MarketWatch.com] Moving the Markets All of today’s activity happened below the unchanged line with the energy sector dropping (-0.9%) as oil prices slipped and gave back -1.37%. Of course, after Friday’s climb into record territory, a pause was in order with Wall Street awaiting the next run of earnings reports along with more clarity on Trump’s policies. …
Riding The Range
[Chart courtesy of MarketWatch.com] Moving the Markets “Dead man walking” would best describe today’s session as the major indexes continued their recent sideways pattern by vacillating above and below their respective trend lines with nothing to show for at the end. It’s been now 78 days since the S&P 500 moved 1%, which simply tells us how narrow this trading …