[Chart courtesy of MarketWatch.com] Moving the Markets It was another non-eventful day in the markets with the Dow and S&P inching lower, however, the Nasdaq managed to eked out a new high. While earnings reports have been holding up, the spanking being dished out almost daily in the oil market along with opinions from the various Fed mouthpieces kept the …
Apple Hits $800 Billion Market Cap; Major Indexes Unchanged
[Chart courtesy of MarketWatch.com] Moving the Markets The major indexes spent today’s session in a tight range and clung to the unchanged line for most of the day. The outcome of the French elections sparked a “sell the news theme,” but US markets were stuck in a no volatility environment as the VIX was pushed down to its lowest close …
Choppy And Sloppy: Poor Macro Data; Equities Yawn; Oil Gets Spanked
[Chart courtesy of MarketWatch.com] Moving the Markets It was a choppy session with macro data serving another notice that economic conditions are weakening, a theme I have been pounding on for quite some time. Today, things started with disappointing U.S productivity, the key to a high living standard, which declined at an annual pace of 0.6% for the 1st quarter …
Looking For Direction
[Chart courtesy of MarketWatch.com] Moving the Markets It was a mixed day with the major indexes looking for a catalyst that never materialized. Equities meandered, and only the Dow managed to eke out a meager gain of +0.04%. It’s been a sideways pattern with the S&P 500 closing 2,388, 2,387, 2,388, 2,384, 2,388, 2,391 and 2,387 over the past 7 …
Dismal Economic Data: Bonds Rally; Equities Inch Up
[Chart courtesy of MarketWatch.com] Moving the Markets Economic data point releases were anything but awe inspiring with auto sales looking “less like a plateau and more like debt-fueled bubble on the verge of an epic collapse,” as ZH succinctly put it. Even hope for an April surprise ended in disappointment as OEMs did not even come close to estimates. Other …
Tech Sector Saves The Day
[Chart courtesy of MarketWatch.com] Moving the Markets While the Nasdaq and S&P 500 hovered above their respective unchanged lines all day, the Dow see-sawed and dove into the close for a slight loss. The Nasdaq was the savior with a solid +0.73% gain, but it also threw an assist to the S&P thereby helping it to close in the green. …