[Chart courtesy of MarketWatch.com] Moving the markets The market had a terrible day on Thursday. Stocks fell like rocks, as bond yields soared to levels not seen in years. The Fed is to blame, as it plans to keep raising interest rates and keep them high for a long time. The Fed thinks the economy is too hot and inflation …
Dollar Slumps As Inflation Data Boosts Stocks
[Chart courtesy of MarketWatch.com] Moving the markets The stock market celebrated another day of low inflation, as the Producer Price Index (PPI) for June came in much weaker than expected. The PPI measures the change in prices that producers charge for their goods and services. It was supposed to rise by 0.4% year-over-year, but it barely budged at 0.1%. This …
ETFs On The Cutline – Updated Through 06/16/2023
Do you want to know which ETFs are hot and which ones are not? Then you need my High-Volume ETF Cutline report. It tells you how close or far each of the 311 ETFs I follow is from its long-term trend line (39-week SMA). These are the ETFs that trade more than $5 million a day, so they are not …
Traders Bet On No Rate Hike This Week, But Will They Regret It?
[Chart courtesy of MarketWatch.com] Moving the markets The S&P 500 soared to a 13-month high as traders bet on the Fed holding off on raising interest rates this week. The Fed has already hiked rates 10 times in a row, but now the odds are 74% in favor of a pause. Maybe tomorrow’s inflation report will confirm that view, as …
Bond Yields Spoil The Market Party
[Chart courtesy of MarketWatch.com] Moving the markets The S&P 500 is still hovering near its highest level since August, but it slipped a bit today. Maybe the market realized that its artificial intelligence stocks can’t keep the party going forever. After all, we have seen 13 months of declining leading indicators, and the Fed’s hawkish policy will likely bite us …
Fed Talk Fails To Dampen Stock Market Mood, Nasdaq Leads The Way
[Chart courtesy of MarketWatch.com] Moving the markets The stock market had a strong finish on Wednesday, overcoming a sluggish start and a midday dip. The S&P 500 turned positive for the month, while the Dow trailed behind the Nasdaq. The rally was fueled by optimism about a debt ceiling deal, as House Speaker McCarthy signaled progress in talks with President …