[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 …
Watching Grass Grow
[Chart courtesy of MarketWatch.com] Moving the markets Today’s session had all the excitement that I usually experience when I watch grass grow or paint dry, as the major indexes meandered without conviction and ended up around their respective unchanged lines—again. Despite another loaded earnings day kicking into full swing, as MarketWatch called it, traders simply found something wrong with the …
Indecision Rules—Recession Looms
[Chart courtesy of MarketWatch.com] Moving the markets Despite the CPI turning out a bit “cooler” than expected, with the headline number printing +0.1% MoM and +5.0% YoY vs. 5.1% anticipated—and down from 6% YoY prior—the reaction was lukewarm at best. The Fed’s favorite core CPI rose 0.4% MoM, in line with expectations, but it pushed the index up 5.6% YoY, …
Going Nowhere Ahead Of The CPI Report
[Chart courtesy of MarketWatch.com] Moving the markets Despite the Dow and the S&P bouncing above their respective unchanged lines throughout the session, in the end not much was gained, as traders tried to elude possible negative consequences ahead of key inflation data. It’s worth noting that tomorrow’s CPI and Thursday’s PPI report are the last critical inflation data points before …
ETF Tracker Newsletter For March 21, 2023
ETF Tracker StatSheet You can view the latest version here. ENDING THE MONTH ON A POSITIVE NOTE [Chart courtesy of MarketWatch.com] Moving the markets It was only three trading days ago when the S&P 500 had finally climbed back to a point where its performance was even for the month, after having been clobbered during the banking crises. From …