[Chart courtesy of MarketWatch.com] 1. Moving the Markets Friday’s rally following the 287k jobs number, which was only impressive on the surface, continued into Monday as traders considered the current situation a Goldilocks scenario. Because there is continued uncertainty about the fallout from the Brexit vote, the higher than expected jobs number is not seen as a signal that the …
Major Indexes Go Nowhere; Mega Food Deal In The Making
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Stocks on Wall Street ended mixed despite a solid report on employment and a big proposed deal in the food sector. Paris-based Danone, maker of Dannon yogurt, agreed to acquire organic food provider WhiteWave Foods (WWAV) for $56.25 based on a valuation of 26x cash flow, which equates to an enterprise value …
Markets Push Back Towards 2,100 Despite Global Sell-Off
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Stocks here in the U.S. brushed off early losses, despite a global sell-off, to end higher today. U.S. government bond yields bounced back from fresh record lows amid continued market turbulence following the surprise Brexit vote two weeks ago. Yesterday and early today, it seemed that investors were reconsidering the implications of …
Brexit Aftershock Shakes Markets
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Stocks departed from their post-Brexit bounce and ended lower to kick off the shortened week here in the U.S. It appears that even after a long Holiday weekend the Brexit event is still lingering in geopolitical and financial news. All three major indexes closed at least 0.60% lower on the day. Early …
Central Banks’ Stimulus Hints Keep Rally Going
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Equities maintained their newly found upward momentum and rallied for the third day in a row by putting the Brexit sell-off in the rear view mirror and making up almost all losses. In the end, the S&P 500 closed out June just about unchanged. The assists of the day came from the …
Brushing off ‘The Brexit’
[Chart courtesy of MarketWatch.com] 1. Moving the Markets It is becoming more apparent that Brexit was perhaps just another short-term shock on the market last Friday, at least for the time being. All three major indexes have since posted solid gains, including today. The Dow has risen 554 points since Monday, which is its best back-to-back point climb since August …