[Chart courtesy of MarketWatch.com] Moving the markets The Fed issued some market pleasing remarks early on sending the major indexes higher, with the S&P 500 notching another intra-day record. Fed head Powell uttered the words that traders wanted to hear, namely that they will maintain their easy monetary policies. Added CNBC: Powell said in his semiannual testimony before Congress Wednesday …
Inflation Fears Dominate Strong Earnings
[Chart courtesy of MarketWatch.com] Moving the markets An early trounce was followed by quick bounce, but upward momentum could not be sustained, and the impact of the inflation report proved to be stronger than some of the positive early earnings results. The three major indexes all closed on the red, albeit by a small percentage. For sure, the inflation numbers …
Maintaining Momentum
[Chart courtesy of MarketWatch.com] Moving the markets Despite a downside opening, the major indexes regained their upward momentum rather quickly and once climbed above their respective unchanged lines, continued their path to score another winning session. Support came from positive expectations of the upcoming earnings season, which will start later this week. For sure, some analysts are counting on blockbuster …
ETF Tracker Newsletter For July 9, 2021
ETF Tracker StatSheet You can view the latest version here. RIP ROARING INTO THE WEEKEND [Chart courtesy of MarketWatch.com] Moving the markets Despite weakness during this Holiday shortened week, stocks found their upside momentum again, right after the opening bell, and went on a rampage thereby leaving the bears in the dust by scoring solid gains across the board. …
Battling For Direction
[Chart courtesy of MarketWatch.com] Moving the markets The markets dumped right after the opening as concerns about the economic recovery losing steam went mainstream. No surprise here, as I had mentioned that issue in recent posts and more evidence surfaced this morning. Losses accelerated as Japan declared a state of emergency in Tokyo for the upcoming Olympics, and other …
Diving And Thriving
[Chart courtesy of MarketWatch.com] Moving the markets An initial bounce hit a brick wall and turned into a sudden dive with early gains being eradicated in a hurry. But, as we’ve seen many times before, a late morning rally pulled the major indexes out of a deep hole and pushed them back into the green with the Nasdaq lagging and …