[Chart courtesy of MarketWatch.com] Moving the Markets The 1st round of the French election results provided relief and hope that the current leading candidate of left wing persuasion (Emmanuel Macron) will be the one winning the final election in a couple of weeks by defeating the right-wing anti-euro and anti-establishment Marine Le Pen in a run-off. While Macron’s lead is …
Equities On A One-Way Street
[Chart courtesy of MarketWatch.com] Moving the Markets After a higher opening, the markets remained steadfast and unwavering in making this session a positive one after the past few of days of floundering. Despite this effort, the S&P 500 still remains a few points lower than it started the month. Solid earnings by American Express stabilized the financial sector for the …
A Dying Dead-Cat-Bounce
[Chart courtesy of MarketWatch.com] Moving the Markets An encouraging morning rally ran out of steam mid-day with the major indexes heading south and closing below their unchanged lines. The exception was the Nasdaq, which managed to cling to a gain of +0.23%. No macro data points were released today, but the weakness in the banking sector, which I addressed yesterday, …
US Dollar And Bond Yields Slammed
[Chart courtesy of MarketWatch.com] Moving the Markets Just yesterday, I talked about how bond yields have been slipping and sliding despite the Fed’s efforts of hiking rates in December and March. The 10-year yield has dropped from 2.62% to 2.26% over the past 4 weeks. That trend accelerated today as that yield got slammed even more ending up at 2.18% …
Bounce-Back Monday
[Chart courtesy of MarketWatch.com] Moving the Markets To me, today’s trading session had the look of a relief rally after last week’s sell-off, and the fact that the war mongering with N. Korea did not turn into anything more but jawboning over the Holiday weekend. The major indexes gained solidly with the S&P 500 trying to make up the losses …
Uncertainty Reigns; Dollar Gets Pummeled
[Chart courtesy of MarketWatch.com] Moving the Markets Uncertainty and volatility reigned supreme as Secretary of State Tillerson’s meeting in Russia initially generated a small relief rally in the dollar with bond yields shooting higher. Then the hammer came down as Trump commented on a variety of issues including China and the overvalued US dollar. That was all it took, and …