[Chart courtesy of MarketWatch.com] The markets opened sharply lower today, with bullish sentiment notably absent as the major indexes fell more than 1.5%. However, they managed to bounce back from their worst levels of the day. Despite the light trading volume typical of a holiday-shortened week, traders found no clear catalyst for the market’s movements. Even lower bond yields couldn’t …
Gold Gains Amid Market Declines; Bitcoin And Oil Fall
[Chart courtesy of MarketWatch.com] The major indexes went through moderate declines early in the session as the markets absorbed recent gains from the holiday week, commonly referred to as the Santa Claus rally. This phenomenon typically occurs during the last five trading days of the year and the first two days of January. Historically, the S&P 500 has averaged a …
Markets Rebound Strongly, Tech Sector Leads Gains
[Chart courtesy of MarketWatch.com] Despite an early dip, the markets quickly rebounded, with major indexes closing in the green and keeping hopes of a Santa Claus rally alive. This solid recovery followed last week’s turmoil, during which the Dow endured a 10-day losing streak and plummeted over 1,100 points on Wednesday. This drop was triggered by the Federal Reserve’s announcement …
Bullish Sentiment Fades As Late Sell-Off Drags Indexes Down
[Chart courtesy of MarketWatch.com] This morning, traders were still grappling with Fed Chair Powell’s hawkish comments from yesterday, indicating that he is likely to cut interest rates only twice next year, down from the four reductions forecasted in September. The pressing question now is: what will policymakers do in 2025? If inflation worsens, as I believe it will, they may …
Market Carnage: Stocks Plunge, Bond Yields Surge After Fed’s Hawkish Comments
[Chart courtesy of MarketWatch.com] The major indexes edged higher ahead of the Federal Reserve’s interest rate announcement, with the Dow leading the way despite its recent worst performance in 46 years. Although the index is less than 4% below its all-time high, a shift from “old economy” shares to the tech sector pulled the Dow down. This decline was exacerbated …
Nvidia Struggles While Bitcoin Tests New Highs
[Chart courtesy of MarketWatch.com] This morning, the major indexes declined, with the Dow Jones Industrial Average marking its first 9-day losing streak since 1978. This streak began after the index surpassed the 45,000 level for the first time earlier this month. Traders attribute these losses to a rotation from “old” economy stocks to the new technology sector. However, Nvidia, which …