[Chart courtesy of MarketWatch.com] Moving the markets After the anticipated arrival of today’s CPI, which came in at 8.5% YoY, vs. an expected increase of 8.5%, the markets jumped with the Dow gaining some 500 points, a level we closed at. The bullish ramp showed no weakness during the session, as traders were relieved that the Fed may now back …
Surrendering Early Gains
[Chart courtesy of MarketWatch.com] Moving the markets An early rally of some 260 points in the Dow bit the dust, as questions about future demand in the semiconductor industry spoiled the party. Nvidia’s unexpected earnings preannouncement and guidance pulled the stock down by some 8% and cast questions on rival stocks as well. After having had a chance of looking …
ETF Tracker Newsletter For August 5, 2022
ETF Tracker StatSheet You can view the latest version here. PONDERING A STRONG JOBS REPORT [Chart courtesy of MarketWatch.com] Moving the markets After much anticipation, today’s jobs report came in stronger than expected (528k vs. 258k), which caused an early sell-off, but the major indexes managed to claw back towards their respective unchanged lines, even though uncertainty reigned. However, …
Moving Closer To A New “Buy” Signal
[Chart courtesy of MarketWatch.com] Moving the markets Traders and computer algos marched in sync today by ignoring the fact that the Fed might not be pivoting to lower rates for some time to come, which several Fed heads had made abundantly clear yesterday. Today, it was St. Louis Fed President Bullard confirming again that “he doesn’t think the US is …
Fed Mouth Pieces Jawbone Markets Lower
[Chart courtesy of MarketWatch.com] Moving the markets I have been commenting almost daily on last week’s rally, which was entirely based on wishful thinking that the Fed will have to pivot back to lowering rates. Due to the US having slipped into a recession, traders, who have been frontrunning the market, expected that this event will have to happen sooner …
Stumbling Into August
[Chart courtesy of MarketWatch.com] Moving the markets Last week’s relentless hope that Fed head Powell will be forced to pivot due to recessionary forces (lower rates), which triggered a nice rebound, became questionable as to its timing and may not happen as quickly as the markets had expected. That could affect the duration of the current bullish run. The major …