[Chart courtesy of MarketWatch.com] Moving the Markets The major indexes pulled back for a change as volume and the hunt for Dow 20,000 slowed down ahead of the Christmas Holiday. Healthcare and real estate were the primary losers today. Banking stocks in Europe round-tripped this morning as the shares of Italy’s problem child, Monte Paschi, crashed, soared and plunged again …
Almost Reaching Dow 20,000
[Chart courtesy of MarketWatch.com] Moving the Markets The recklessness and utter abandon with which the markets have been rallying, since the election, is simply astounding. Caution, risk aversion or view of economic fundamentals do either not exist or are simply ignored. It is financial engineering combined with market manipulation at its finest. Such was the case again today as the …
Edging Higher On A Tumultuous Day
[Chart courtesy of MarketWatch.com] Moving the Markets It was a reluctant rally with investors being hesitant considering that the major indexes were still hovering near all-time highs; bond markets finally managed to stage a modest recovery after the drubbing of the past few weeks. Not helping matters were reports from Germany that a truck ran into a crowded Christmas market …
The Day After: Dip Buyers Pull Indexes Up
[Chart courtesy of MarketWatch.com] Moving the Markets The major indexes managed to shake off yesterday’s pullback, which marked the day of the Fed’s second hike in interest rates in almost 10 years. While this was widely expected, I thought the markets would have taken that removal of uncertainty as a positive, but Yellen spoiled the party with her announcement that …
Fed Hikes And Market Strikes
[Chart courtesy of MarketWatch.com] Moving the Markets Despite the odds of the Fed hiking rates today having been close to 100%, Wall Street traders went on strike as the post-election bullish momentum waned, and the major indexes sold off by a modest amount which, however, was the worst pull-back in two months. The Fed finally came through after crying “wolf” …
Dow 20,000 Here We Come
[Chart courtesy of MarketWatch.com] Moving the Markets Yesterday’s pause in the market, during which the S&P 500 and the Nasdaq pulled back slightly, formed the basis for more advances today as the Dow reached a point that is within striking distance of the magical 20,000 milestone marker. All three major indexes stormed into record high territory as the post-election levitation …