[Chart courtesy of MarketWatch.com] Moving the markets The race to getting nowhere fast continued, as Disney’s earnings showed that subscriber growth was anything but acceptable causing the stock to puke by losing over 8%. Then it was PacWest which confirmed that the banking troubles are far from being over by acknowledging in a regulatory filing that its deposits fell 9.5% …
CPI Tamer Than Expected, But…
[Chart courtesy of MarketWatch.com] Moving the markets Year-over-year, consumer prices increased by 4.9%, down a tad from the expected 5%, while the month-over-month inflation rate of 0.4% was also in line with projections. While traders interpreted that as good news, market reaction was mixed, with the major indexes advancing only moderately. When looking under the hood, however, we saw that …
Another Lukewarm Session
[Chart courtesy of MarketWatch.com] Moving the markets As I suspected yesterday, today’s session might not be much different, and that’s how it turned out. While inflation data, to be released tomorrow and Thursday, loom large, Treasury Secretary Yellen decided to increase the “fear meter” by announcing that failing to raise the debt ceiling would be an economic catastrophe, referring to …
Clinging To The Unchanged Line
[Chart courtesy of MarketWatch.com] Moving the markets Traders found no motivation to drive the market in either direction, as the release of key inflation data cast a broad shadow on activity. On deck first will be April’s Consumer Price Index (PPI) on Wednesday, which is followed by the Producer Price Index (PPI) on Thursday. Volatility was the name of the …
Here We Go Again: The Next Cockroach Has Surfaced
[Chart courtesy of MarketWatch.com] Moving the markets Observing the markets daily, sometimes I have to laugh out loud, and at other times I simply have to shake my head in disbelief. The latter occurred yesterday, after Fed head Powell had announced that the banking system was “sound and resilient.” It was only a few hours later when the next cockroach …
The Fed Disappoints—Markets Sell Off
[Chart courtesy of MarketWatch.com] Moving the markets As expected, the Fed raised their interest rate by 0.25%, but traders were more interested in the accompanying statement, and that’s where the disappointment came in. The statement was a hawkish pause, which signaled that “some additional policy firming may be appropriate,” as opposed to what traders had hoped for, namely “some additional …