[Chart courtesy of MarketWatch.com] Moving the markets Despite Netflix’s beating of earnings and revenue, and its shares rallying some 13%, it was simply not enough to overcome the negatives of surging bond yields, which indicated that inflation fears have not subsided and won’t soon. As a result, the major indexes gave back some of their gains of the past two …
Earnings Give A Bullish Assist
[Chart courtesy of MarketWatch.com] Moving the markets Despite an early 500-point jump in the Dow, supported by strong earnings reports (Goldman Sachs, Lockheed Martin), volatility set in with the major indexes tumbling off their lofty levels. The cause was Apple reporting that it will be cutting iPhone 14 production less than 2 weeks after its debut. Added ZeroHedge: The news …
The Pendulum Swings The Other Way
[Chart courtesy of MarketWatch.com] Moving the markets A relief rally held its ground with the major indexes remaining steady above their respective unchanged lines, as strong bank earnings by Bank of America and Bank of Mellon provided the fuel to sustain the rebound. Of course, stocks have been in deeply oversold territory, and are hovering near year lows of the …
ETF Tracker Newsletter For October 14, 2022
ETF Tracker StatSheet You can view the latest version here. PUMPED, THEN DUMPED [Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s market reversal, that saw Dow swing from a minus 500 points to a plus 800 points, marked the fifth largest in history. The worse than expected CPI report (+8.2% YoY), with the core number surging to 40-year highs, …
Stuck In Limbo
[Chart courtesy of MarketWatch.com] Moving the markets Today’s Producer Price Index (PPI) was a mixed bag and turned out to be a yawner for the stock market. While the PPI climbed 0.4% in September, which was twice the forecast of 0.2%, year over year, however, it rose 8.5%, which was an improvement from August’s 8.7% increase. The major indexes interpreted …
Another Dead-Cat-Bounce Bites The Dust
[Chart courtesy of MarketWatch.com] Moving the markets An early morning ramp-a-thon pushed equities into the green, with the Dow at one moment sporting a 400-point gain but, things turned sour quickly, and the major indexes dove into the close. Only the Dow managed to cling to its unchanged line, while the S&P and Nasdaq ended solidly in the red with …