ETF Tracker StatSheet You can view the latest version here. TREADING WATER [Chart courtesy of MarketWatch.com] Moving the markets Despite the tough language used by St. Louis’ Fed President Bullard yesterday, that a benchmark interest rate in the range of 5%-7% would be needed to bring down inflation, the Wall Street crowd refuses to pay attention and still lives …
Struggling For Direction
[Chart courtesy of MarketWatch.com] Moving the markets Weakness prevailed right from the get-go, when retail stocks were dragged lower due to Target reporting a decline in sales causing their stock price to dive some 13%. Shoppers are struggling with high inflation ahead of the biggest shopping season of the year. On the other hand, US Retail Sales soared 1.3% MoM …
A “Welcoming” PPI Report Supports Equities
[Chart courtesy of MarketWatch.com] Moving the markets Today’s Producer Price Index (PPI) came in better than expected with CNBC highlighting the data as follows: The producer price index rose 0.2% in October, below the 0.4% estimate. A significant contributor to the slowdown in wholesale inflation was a 0.1% decline in services, the first outright decline in that measure since November …
Taking A Breather
[Chart courtesy of MarketWatch.com] Moving the markets After last week’s Ramp-A-Thon, equities needed a breather. Even though the major indexes held up well throughout the session by bouncing around their respective unchanged lines, momentum waned during the last hour and south we went. Given the advances of the past five trading days, a pause was in order, and that’s exactly …
ETF Tracker Newsletter For November 11, 2022
ETF Tracker StatSheet You can view the latest version here. S&P 500 SCORES ITS BEST WEEK SINCE JUNE [Chart courtesy of MarketWatch.com] Moving the markets After yesterday’s euphoric reaction to the better-than-expected CPI report, bullish momentum prevailed throughout the session, despite the bond market being closed on this Veteran’s Day. But the short squeeze was alive and well and …
“Friendly” CPI Report Powers Markets—New “Buy” Signal On Deck
[Chart courtesy of MarketWatch.com] Moving the markets Only one thing mattered today, and that was the CPI reading, which came in much more “friendly” than expected. The index rose only 0.4% for the month and 7.7% YoY, its lowest annual increase since January. Expectations were 0.6% and 7.9% respectively. Even the core numbers were better than anticipated. The market reaction …