[Chart courtesy of MarketWatch.com] The US equity rally faded after three straight up days with Wall Street turning cautious even as the Dow industrials and S&P 500 managed to stay in the green while the NASDAQ slipped. European stocks ended marginally higher as Europe chose to ignore the region’s negative economic data and focus on the possibility of an early …
Major Indexes Extend Weekending Rally Even As Europe Dithers; TAN Shines, VIXY Fades
[Chart courtesy of MarketWatch.com] Major market indexes closed higher Monday extending Friday’s rally as investors remained positive over news of lower Spanish and Italian borrowing costs and a stronger-than-expected jobs report last Friday. The Dow Jones Industrial Average (DJIA) rose 21 points paring the day’s 91-point gain. Within the Dow, the breadth remained positive with 19 of the index’s 30 …
RDQ Economics: Mario Draghi Needs To Deliver On His Pledges
There has been much disappointment over European Central Bank President Mario Draghi’s apparent failure to initiate another round of bond purchases from the secondary markets to bring down Spanish and Italian 10-year yields. While Draghi signaled the central bank intends to buy sovereign bonds to bring down borrowing costs, he conceded that differences with the German Bundesbank remain over the …
Draghi Drags Down Major Indexes—Confirms He Is ‘All Hat And No Cattle;’ KWT Rallies, UNG Slips
[Chart courtesy of MarketWatch.com] US major indexes extended their losing streak for the fourth straight day Thursday after the European Central Bank failed to deliver on its earlier pledge to halt a further decline of the ongoing sovereign debt crisis. ECB president Draghi, who last week single handedly ignited a rally in equities with talk of upcoming bazooka like actions, …
Fed Disappoints—US Stocks End Marginally Lower; ECB And Unemployment Numbers On Deck; USO Rises, URA Sinks
[Chart courtesy of MarketWatch.com] US stocks ended marginally lower Wednesday as the Federal Reserve decided to hold back another round of asset purchases to boost the economy. Traders had priced in a Fed move to support the market’s lofty levels even though eight of ten economists surveyed by Bloomberg News were negative on the Federal Reserve initiating further quantitative easing …
Market Indexes Slip On Uncertainty; Will The Fed/ECB Deliver?
[Chart courtesy of MarketWatch.com] Uncertainty and a certain amount of nervousness among traders provided the background for the day, as the major indexes all slid into the end of the month. There was not much propping up going on as today proved to be a repeat of yesterday’s theme with the indexes hovering slightly above and below the unchanged line. …