[Chart courtesy of MarketWatch.com] Moving the Markets At least for today, New Year momentum slowed as the major indexes predominantly hovered below the unchanged line and closed at their lows for the session. The exception was the Nasdaq, which managed to eke out a gain of +0.19%. It was a tale of opposing market forces as technology strength was offset …
Aimless Meandering
[Chart courtesy of MarketWatch.com] Moving the Markets After a good start in the New Year, softness set in with the major indexes meandering aimlessly although the Nasdaq managed to eke out a small gain. Weighing on the broad market were sharp drops in Kohl’s and Macy’s after yesterday’s announcement that the holiday season was not only poor, but that also …
Fed Confirms Inflation Concerns
[Chart courtesy of MarketWatch.com] Moving the Markets The Fed minutes of their December meeting were the most anticipated event of the day. They revealed concerns that accelerating economic growth under Trump’s stimulus plan might require faster interest rate hikes to get a handle on the accompanying inflation. This is about as hawkish of a statement the Fed has released in …
Early Market Euphoria Fades
[Chart courtesy of MarketWatch.com] Moving the Markets The markets started the New Year with a bang as the Dow attempted another run at 20k but fell short in the end as a mid-day sell-off pulled the rug out from the early rally. Late day buying put the major indexes deeper into the green for day, but it was not enough …
Treading Water
[Chart courtesy of MarketWatch.com] Moving the Markets Quiet holiday trading took over with the major indexes vacillating slightly above and below their respective trend line without clear direction and again on low volume. The exception was gold, which finished a 5-day winning streak by adding a solid +1.59% for the day. The dollar gave back some of its recent gains …
Rally Loses Steam As The Drive For Dow 20,000 Stalls
[Chart courtesy of MarketWatch.com] Moving the Market A broad decline in the major indexes interrupted the Trump rally as bad news was, for a change, perceived to be really bad news with the culprit being a drop in home sales. It was a sharp one as pending home sales plunged to their lowest level in almost a year. This should …