[Chart courtesy of MarketWatch.com] 1. Moving the Markets Stocks went nowhere and held steady as most assets decoupled and closed lower. ZH reports that USDYPY headed south as did oil, high yield bonds and Treasury yields while the major stock indexes stubbornly remained in nosebleed territory closing around the unchanged line. Volume was atrocious. Banks were a drag on the …
The Short Squeeze Continues
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Markets are on a 3-day run heading into the end of May and it seems that a ‘Rally Cry’ is on the tip of everyone’s tongue despite China devaluing their currency to the lowest in 5 years and the U.S. services industry tanking. So, what is driving markets higher this week? A …
Markets Storm Back With Force But No Volume
[Chart courtesy of MarketWatch.com] 1. Moving the Markets After an uneventful start to the week, markets here in the U.S. sprang back into action and posted their largest gains since early May. All three major indexes gained at least 1.20% on the day but with volume being downright atrocious, this move is suspect. The year has been volatile thus far …
Mellow Monday; GE And Bayer Making Bids; Fedspeak On Deck
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Markets were little changed at the closing bell as Wall Street continues to contemplate the (potential) interest rate hike in June and a lingering sluggish growth rate of the U.S. economy. While Monday was quiet overall, investors are awaiting data on April new home sales Tuesday, as well as earnings results from …
S&P 500 Falls Back Into Negative Territory For 2016
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Stocks fell despite a big earnings beat from retailer Wal-Mart (WMT) Walmart (WMT) bucked the trend of many U.S. retailers this profit-reporting season, reporting that its earnings, revenues and sales all handily topped Wall Street’s estimates. Shares of the retailer gained almost 10% on the day. The positive news from the company …
Markets End Flat On FOMC Minutes
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Volatility was minimal as we closed out the mid-week trading day. We heard earnings reports from Target (TGT) today, which disappointed investors to say the least. The company missed analyst’s estimates on Q1 sales while delivering a disappointing forecast for the Q2. Corporate said it expects sales in the second quarter to …