[Chart courtesy of MarketWatch.com] The market finally found an excuse to smile today. Stocks rallied sharply as Treasury yields backed away from their recent highs after Fed Governor Waller suggested he’d be inclined to support holding rates steady, assuming upcoming inflation data doesn’t throw a curveball. That comment was enough to shift the mood on Wall Street. Rate hike expectations …
A Softer Dollar, Stronger Metals, And A Market Rebound
[Chart courtesy of MarketWatch.com] Treasury yields finally took a breather after their recent sprint to multiyear highs, and stocks were happy to take the invitation, with the S&P 500, Nasdaq, and Dow all snapping their three-day losing streaks. The bigger story hasn’t changed, though. Oil remains parked around the $90-mark, geopolitical tensions are keeping energy traders on edge, and the …
September Starts With A Hangover: Stocks, Gold, And Bitcoin All Slip
[Chart courtesy of MarketWatch.com] September got off to a rough start, with inflation concerns and a 6% jump in oil prices pushing bond yields higher around the world and putting pressure on nearly every asset class. The rising rate backdrop weighed heavily on tech, with names like Nvidia, AMD, Microsoft, and Alphabet leading the retreat. What really mattered today was …
Geopolitics Trips Up Stocks As Gold, Silver, And Bitcoin Shine
[Chart courtesy of MarketWatch.com] The market spent the final trading day of August looking over its shoulder as renewed hostilities between the U.S. and Iran rattled investors. Stocks moved lower, oil jumped about 3%, and rising long-term Treasury yields added another headwind for equities. Sometimes the market worries about one thing at a time. Today it generously chose two. That …
A WINNING WEEK WITH A HAWKISH TWIST: MARKETS DIGEST WARSH’S MESSAGE
[Chart courtesy of MarketWatch.com] Stocks started the day with a spring in their step but lost a little steam as traders digested Fed Chair Kevin Warsh’s Jackson Hole remarks. The key takeaway? Inflation may be behaving better lately, but the Fed isn’t ready to declare victory just yet. That recalibrated expectations in a hurry. Odds of a September rate hike …
Markets Cheer Nvidia’s Earnings, Then Look To The Fed
[Chart courtesy of MarketWatch.com] Today’s rally had a very familiar driver: Nvidia. The chip giant delivered another earnings beat, and investors responded by sending the Nasdaq higher while the rest of the market mostly stood around checking its watch. Nvidia surged 9% after topping expectations and projecting powerful revenue growth, with forecasts now pointing to roughly 70% growth by fiscal …