[Chart courtesy of MarketWatch.com] Moving the markets Sometimes you just have to laugh when you see the type of chaos in the markets that we saw today. The widely anticipated Consumer Price Index (CPI) reading came in much “hotter” than expected as it surged 0.5% in January. Consequently, bond yields spiked with the 10-year adding 8 basis points to close …
Running Out Of Steam
[Chart courtesy of MarketWatch.com] Stocks ended flat Thursday, taking a breather after a nice two day rally. Trading today was mostly influenced by earnings reports from Bank of America (BAC) and Wells Fargo (WFC). Bank of America topped both earnings and revenue estimates. Wells Fargo topped profit expectations but was slightly below par on revenue. BofA gained and Wells fell …
One Man’s Opinion: Will The Federal Reserve Keep Rates Low To Boost Consumption?
Following the Fed’s two-day monetary policy meeting this week, Chairwoman Janet Yellen said the central bank is going to stay accommodative for a long time after it ended its monthly bond-buying program this year, reassuring markets a rate hike is not likely any time soon, said Vincent Reinhart, chief US economist at Morgan Stanley. Asked if Morgan Stanley agrees with …
Equities Manage A Third Day Of Gains
[Chart courtesy of MarketWatch.com] 1. Moving The Markets It was a wobbly beginning, but the major indexes managed to pick up a little steam later in the session just enough to end up in the green for the third day in a row. The gains were modest as the above chart shows. Even a sharp rise in consumer prices in …
A Mixed Bag Of Data Whacks The Bulls
[Chart courtesy of MarketWatch.com] 1. Moving The Markets It was a one-two punch based on disappointing earnings and a mixed bag of data that sent the bulls to the mat, at least for the time being. All major indexes lost as the intra-day chart above shows. Despite the manufacturing index coming in better than expected and a reduced number of …
Index ETFs See Red On Continued Fed Fear
[Chart courtesy of MarketWatch.com] The U.S. equity markets extended yesterday’s selloff to close decisively lower, the most since June as forecasts from Cisco Systems Inc. and Wal-Mart Stores Inc. disappointed while a large dose of mixed domestic data added to investor worries that the Federal Reserve may begin tapering in the near future. About 6.6 billion shares exchanged hands on …
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