No negatives with any impact on the markets could be found today, as the major market ETFs shifted into recovery mode in part by driven by relief that Hurricane Irene’s damage appeared to be less than expected while, at the same time, consumer spending was stronger than expected. Adding to that bullish menu was renewed hope that the Fed may …
Major Market ETFs Head Back South Again
After 3 up days, the short-term trend abruptly reversed, and the major market ETFs slipped based in part on speculation that Fed chief Bernanke’s widely anticipated announcement tomorrow may not include a major stimulus idea. If so, that lack of action could further accelerate the downward momentum and confirm the current bearish market tendencies.
Equity ETFs Propel Higher During Last Hour
Meandering around he unchanged line was the theme of the day until the last hour, when the bulls shifted into high gear and propelled equity ETFs to a third gain in a row supported by a better than expected durable goods order report. Additionally, with the beating of the financial stocks over the past few months, there may have been …
Hope For More Stimulus By Fed Chief Bernanke Stimulates The Major Market ETFs
Amazingly, today’s rebound was based on nothing but hope that the Fed’s Bernanke will pull another rabbit out of the hat this Friday via the mother of all stimulus proposals, which will solve all that ails the world. The amount of bad news was small enough to stimulate markets around the globe in anticipation of what the Fed might come …
Misery For Equity ETFs; PRPFX Hedge Gains
The markets took another nosedive today as Morgan Stanley warned about a global recession, which caused 10-year Treasury yields to drop below 2% as the flight to safety continued. As a reader of this blog, the dreaded “R” word (as in ‘Recession,’ not in ‘Recovery’) should be a familiar tune, as I have commented about this very possibility for quite …
Weak Economic News Drag Down Equity ETFs
Weak economic news proved to be a drag on equity ETFs as Europe’s main engine, Germany, just about stalled in regards to second quarter GDP. Domestically, housing starts in July were nothing to brag about. German and French leaders proposed to better coordinate financial planning and to enact a tax on financial transactions. Lovely; I wonder if there ever will …