[Chart courtesy of MarketWatch.com] Moving the markets The bulls were in charge as the market awaited earnings reports from big banks like BofA, Morgan Stanley and Goldman Sachs. The major indexes ended the day in positive territory, thanks to another round of short squeezing. Even tech giants like Apple, Tesla and JPMorgan saw their shares rise, despite the gloomy outlook …
Inflation Eases, Stocks Soar, Bonds Breathe
[Chart courtesy of MarketWatch.com] Moving the markets The latest CPI report was a pleasant surprise for Wall Street, as US consumer prices rose less than expected in June. The core CPI, which excludes food and energy, increased by only 0.2% month-over-month, the smallest gain since February 2020. The annual inflation rate eased to 3.0%, the lowest since March 2021. This …
Market Rises On Short Squeeze And CPI Optimism
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes climbed higher for the second day in a row, as investors waited for the latest inflation report due tomorrow. The report is expected to show a slight drop in the annual inflation rate to 3.1%, which would ease some of the worries about rising rates. Investors have already accepted that …
Market Mixed As Inflation Worries Clash With Earnings Hopes
[Chart courtesy of MarketWatch.com] Moving the markets The Dow bounced back from last week’s slump, but the S&P and Nasdaq barely budged as investors waited for inflation and earnings news. The CPI and PPI reports are due on Wednesday and Thursday, respectively, and could ease some inflation fears if they come in lower than expected. Meanwhile, big banks will kick …
Good Jobs Data Turns Sour For Stocks And Bonds
[Chart courtesy of MarketWatch.com] Moving the markets We all know the saying “when good news is bad news.” Well, today we got a reminder of what that means. ADP announced that private sector jobs jumped by 497k in June, smashing expectations and marking the biggest monthly gain since July 2022. That sounds like good news, right? Wrong. Because this report …
Bond Yields Rise, Dollar Gains, Stocks Struggle
[Chart courtesy of MarketWatch.com] Moving the markets The minutes of the Fed’s June meeting revealed why they decided to hold off on raising interest rates this time. But they also hinted that more hikes are coming in 2023, as they remain confident about the economic recovery. This made some traders nervous, as they were hoping for lower rates sooner rather …