[Chart courtesy of MarketWatch.com] Moving the Markets The Trump pump continued with full force as all 3 major indexes set record closing highs today supported by energy and commodity shares. Oil prices jumped and managed to gain almost 4%. There were no actual news events driving this rally other than investors jumping on the Trump theme of massive infrastructure projects …
Bond Yields Spike But Major Indexes Crawl Higher
[Chart courtesy of MarketWatch.com] Moving the Markets Fed chief Yellen was in the spotlight during her congressional testimony at which time she pointed out that the election outcome has not changed the Fed’s plan for a rate increase “relatively soon” and absent any dramatic changes, a gradual pace of hikes thereafter. Sounds like the same rhetoric we’ve heard all year …
A Pause In The Post-Election Rally
[Chart courtesy of MarketWatch.com] Moving the Markets It was a mixed day with the S&P meandering slightly below its unchanged line caused by Wall Street digesting a healthy dose of economic data points. Industrial production tanked again and has now contracted for the 14th straight month, which is its longest non-recessionary streak in 96 years. To look at it another …
Post Election Updraft Continues
[Chart courtesy of MarketWatch.com] Moving the Markets The major indexes extended their post election really with the Nasdaq being the winner of the day with a gain of +1.10%. The Dow managed to again creep into record territory while the S&P added a solid +0.75%. Energy stocks provided the fuel with oil racing ahead with a gain of +5.82% in …
The Trump Pump Slows: Dow Inches Into Record Territory But Nasdaq Drops
[Chart courtesy of MarketWatch.com] Moving the Markets It was a tale of different markets. While the DIA made a new all-time high, the Nasdaq dropped as the rotation continued out of tech into financials, industrials, energy and transportation, all being powered by expectations that Trump’s economic policies might be beneficial for those sectors. The dollar surged as emerging markets got …
A Split Market: Dow Hits Record High, Nasdaq Dumps, Bond Bloodbath Continues
[Chart courtesy of MarketWatch.com] Moving the Markets It was a market of extremes. While the Dow managed to hit an all-time high, powered predominantly by only 4 stocks in its index, the Nasdaq headed south while the S&P meandered but managed to close in the green by +0.20%. Emerging markets (ILF) got pounded at the rate of -7.17% while bonds …