[Chart courtesy of MarketWatch.com] Moving the Markets The bulls continued to have their way on Wall Street with today’s support coming from positive data confirming that the US economy is heating up and leaving the Fed behind in terms of controlling inflation via higher rates. The CPI number can only be described as “blistering” at a strong 2.3% print vs …
The Rally Continues: Low Interest Rates Are Good News And… High Interest Rates Are Good News
[Chart courtesy of MarketWatch.com] Moving the Markets All eyes were on the Fed today, or more specifically Janet Yellen’s testimony before the U.S. senate banking committee. Among much jawboning Yellen warned that “waiting too long to remove accommodation would be unwise,” along with this bon mot that “at our upcoming meetings, the committee will evaluate whether employment and inflation are …
Wall Street Bets On Trump
[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 …