[Chart courtesy of MarketWatch.com] 1. Moving the Markets Economic data were mixed with ADP reporting that the US economy added 154k jobs in September vs expectations of 165k. The US trade deficit unexpectedly grew in August as imports increased more than exports putting downward pressure on Q3 GDP while factory orders declined for the 22nd straight month. The only bright …
Hawkish Fedspeak Pulls Markets Lower; Precious Metals Get Clobbered
[Chart courtesy of MarketWatch.com] 1. Moving the Markets With no economic data points being published today, trading was extremely choppy with the major indexes vacillating around the unchanged line until bearish sentiment took over. A last hour rebound limited the damage in the S&P to about -0.5%, a very minor pullback given the bubble territory the markets are hovering in. …
Major Indexes Drop As Deutsche Bank’s Liquidity Concerns Remain
[Chart courtesy of MarketWatch.com] 1. Moving the Markets As I mentioned Friday, Deutsche Bank’s (DB) rumor of an impending and sharply reduced settlement blew up in smoke over the weekend as it turned out that not only was a settlement not reached but there had not even been a meeting with the DOJ to discuss matters. But the good news …
Markets Get Hit By Deutsche Bank Concerns; Amazon Getting Intelligent
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Stocks ended lower today after reports surfaced that some hedge funds were cutting their exposure to Germany’s Deutsche Bank (DB), a move which raised fears that some clients are leery about doing business with the European banking giant. Did a bank run begin? While it’s too early to tell, the denial by DB’s John …
Heading Higher
[Chart courtesy of MarketWatch.com] 1. Moving the Markets After an early drop, the markets recovered and managed to close in the green in part due to quarterly window dressing. Oil shifted into high gear and gained some 4.6% on renewed Saudi jawboning about future production limits. The spot on article “This market calm feels like mayhem” by ZH, points to …
Nervousness Prevails Before Debate; Deutsche Bank Clobbers US Financials
[Chart courtesy of MarketWatch.com] 1. Moving the Markets While a general unease about tonight’s debate kept the major indexes in negative territory all day, other bad news contributed to the weakness as well. New home sales tumbled with prices touching lows not see in some 2 years while the supply of homes rose to 4.6 months from 4.2 months when …