[Chart courtesy of MarketWatch.com] Moving the Markets Things started out to the downside with the S&P 500 sliding almost 1% after Wall Street had some time to digest President-elect Trump’s press conference. Disappointment spread as he chose not to discuss details of his proposed economic policies that were the main driver behind the post-election rally. However, the indexes were magically …
A Choppy Session Marked By A Late Rebound
[Chart courtesy of MarketWatch.com] Moving the Markets It was a wild ride for the major indexes as they vacillated above and below the unchanged line depending on the words of the moment during President-elect Trump’s first formal news conference since the election. Case in point was the punishing effect on Biotech/Pharma stocks when Trump opined that that industry “was getting …
A Mixed Picture: S&P Flat, Dow Down And Nasdaq Up
[Chart courtesy of MarketWatch.com] Moving the Markets US oil got spanked again at the tune of -2.19% on top of yesterday’s 3.85% loss, hurting the energy sector and negating advances in the financial and healthcare arenas. The S&P was unchanged, but the Nasdaq managed to buck the trend again by advancing +0.36%. Midday, it looked like the Dow might be …
Slowing Momentum
[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 …