[Chart courtesy of MarketWatch.com] 1. Moving the Markets Today’s pullback certainly made yesterday’s rebound look like a dead cat bounce. Of course, you can never be sure but stocks shifted into reverse today falling sharply led by lower oil prices and weak financials. Despite Fed officials taking a more dovish stance, there appears to be a heightened level of insecurity …
Rebounding Off The Friday Lows
[Chart courtesy of MarketWatch.com] 1. Moving the Markets On Friday, I mentioned that the Fed might attempt to talk this market back up after the sharp and sudden pullback. As if on cue, three Fed govs, namely Brainard, Lockhart and Kashkari, used various venues to opine the predominantly dovish message that a rate hike might not be compelling. That’s all …
Major Indexes Drift Lower
[Chart courtesy of MarketWatch.com] 1. Moving the Markets U.S. stocks slipped today as traders digested the decision by the ECB to keep interest rates unchanged and looked for fresh catalysts, as in more Fed stimulus, to propel the market higher. As analysts had expected, the European Central Bank decided to keep its key deposit rate unchanged at -0.4%, but also …
Horrific Economic Data = Higher Stock Prices
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Stocks remained in positive territory today, even after the weakest reading on the services sector of the economy in six years, as traders returned from the long holiday weekend. It seems that Wall Street is still digesting Friday’s August jobs report (which most investors say will keep the Federal Reserve from hiking …
Drop And Pop
[Chart courtesy of MarketWatch.com] 1. Moving the Markets August was a quiet month for the U.S. stock market, with volatility at very low levels. The S&P 500 did not see a day with a change of 1% in either direction the entire month. However, a six-month winning streak was snapped in August for the Dow and, as you may know, …
Oil Trips And Market Slips; Apple Back In The News
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Equities ended a bit lower Tuesday after starting off in positive territory as investors digested news that Apple could owe back taxes in Ireland and continued to focus on what the Federal Reserve’s next move on interest rates might be as Friday’s key jobs report looms. Wall Street continues to waver on …