[Chart courtesy of MarketWatch.com] This morning, rising bond yields were at the forefront of traders’ minds, dampening the positive sentiment that had characterized the start of the earnings season. The 10-year Treasury yield briefly climbed above 4.22%, a level not seen in three months. Although it retreated as the session progressed, the major indexes slipped and struggled to deal with …
Mixed Earnings And Rising Yields Weigh On Markets
[Chart courtesy of MarketWatch.com] The major indexes began the session on a downward trend after scoring another positive week. With major corporate earnings on the horizon, future market gains will hinge on companies surpassing expectations as the earnings season intensifies. Approximately 20% of S&P 500 companies, including prominent names like Coca-Cola, Tesla, and GE Aerospace, are set to release their …
Bond Yields Climb As Dollar Strengthens; Gold Hits Record High
[Chart courtesy of MarketWatch.com] Semiconductor stocks were the driving force behind the major indexes’ early rise, with Nvidia reaching a new all-time high. Taiwan Semiconductors contributed to the positive sentiment by not only reporting strong quarterly results but also raising its revenue forecasts. Other semiconductor companies, such as TSMC and AMD, also saw significant gains, erasing the previous day’s losses. …
Gold Hits Record High As Dollar Strengthens And Bond Yields Dip
[Chart courtesy of MarketWatch.com] This morning, the market showed choppy behavior, as traders attempted to adopt bullish sentiment following yesterday’s pullback, which saw major indexes relinquish their record highs. I expected the atmosphere of uncertainty to persist, driven by the ongoing earnings season and the upcoming presidential elections, both contributing to a “nervous” environment. This week’s earnings reports have been …
Nasdaq Leads Decline As MAG7 Basket Suffers Collateral Damage
[Chart courtesy of MarketWatch.com] The major indexes retreated from their highs as traders digested the latest earnings reports and observed the 10-year bond yield slipping back towards 4% from yesterday’s surge to 4.10%. So far, 40 of the S&P 500 companies have reported their latest results, with 80% surpassing analysts’ expectations. Despite some traders acknowledging that the S&P 500 might …
Tech Stocks Lead Market Rally; Bitcoin Surges Past $66k
[Chart courtesy of MarketWatch.com] Following Friday’s significant gains, the S&P 500 opened with a surge and reached another record high, driven by anticipation of positive earnings reports, despite the bond market being closed for Columbus Day. Rumors from China about a new stimulus plan (quantitative easing) laid the groundwork for today’s market action, propelling both equities and cryptocurrencies significantly higher. …