[Chart courtesy of MarketWatch.com] 1. Moving the Markets U.S. and European stocks rallied big time as investors appear to be front running or betting that voters in the U.K. will choose to remain in the European Union. Ahead of the vote, a new Ipsos Mori poll completed Wednesday night showed the “remain” supporters with a narrow lead — 52% to 48%. But the polling firm’s …
Major Indexes Pull Back Ahead Of Brexit Vote
[Chart courtesy of MarketWatch.com] 1. Moving the Markets An early rally, fueled by better than expected May home resales, fizzled out in the afternoon as Wall Street focused on the vagaries and uncertainties of tomorrow’s referendum on whether Great Britain will exit the European Union. A poll published today shows pretty much a statistical tie with “Leave” supporters at 45%, …
Markets Barely Back On Top
[Chart courtesy of MarketWatch.com] 1. Moving the Markets The U.S. stock market slightly extended its relief rally as Wall Street and other global financial markets continue to be dominated by the pending outcome of Britain’s vote on Thursday to leave or stay in the European Union. In a sign of just how high-profile and potentially risky the “Brexit” vote is …
Relief Rally Fizzles
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Worldwide stock markets staged a huge rally this morning, which smelled like a dead cat bounce to me, as the much anticipated Brexit vote polls seem to be heading in the other direction with “remain” polls allegedly surging over the weekend casting doubt on the “leave” camp’s leadership. With the European Union …
Markets Fight Back
[Chart courtesy of MarketWatch.com] 1. Moving the Markets The Dow broke a five-session losing streak today as it reversed a nearly 170-point loss and turned positive despite growing angst related to next week’s “Brexit” vote in the U.K. Rising confusion over Fed policy and sagging economic growth around the globe has investors a bit in a state of shock to say the least. …
The Fed Blinks: Holds Rate Hike At Bay
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Despite talking out of both sides of its mouth for weeks, the Federal Reserve announced at the close of its meeting today that it would keep interest rates unchanged. While commenting on the matter though, Yellen said a July hike “is not impossible,” suggesting that strong job growth in June and substantial upward revisions …