[Chart courtesy of MarketWatch.com] Moving the markets An early 400-point drop in the Dow, caused by fears about a new Covid strain, created a deep hole for the markets but, as if by magic, a sudden turnaround materialized. The major indexes reversed with the Dow completing a trading range of some 800 points. It appears that the $900 billion agreed …
ETF Tracker Newsletter For December 18, 2020
ETF Tracker StatSheet You can view the latest version here. GLIDING INTO THE WEEKEND [Chart courtesy of MarketWatch.com] Moving the markets Quadruple witching day provided much volatility, but the fallout was barely worth mentioning with the major indexes slipping moderately but closing the week on the plus side of the ledger. Added CNBC: The stock market experienced massive volume …
Stimulus Expectations Pump Markets
[Chart courtesy of MarketWatch.com] Moving the markets Traders and algos were in a buying mood based on continued hopes that a stimulus deal will be agreed upon before the end of 2020. This enthusiasm has been the main driver with congressional leaders homing in on a $900 billion package that would include direct payments to individuals. Even worsening Initial Jobless …
Slipping, Sliding And Bouncing
[Chart courtesy of MarketWatch.com] Moving the markets After some aimless meandering early on, the major indexes found some footing, because of Fed’s latest promise to keep supporting the economy with whatever means necessary. Added CNBC: The U.S. central bank said it will buy at least $120 billion of bonds each month “until substantial further progress has been made toward the …
Stimulus Talk Stimulates Markets
[Chart courtesy of MarketWatch.com] Moving the markets Optimism reigned supreme that Congress will finally pass another economic relief bill after wrangling with it for weeks. Apparently, the warring parties are growing wary and concerned about an economic fallout if no agreement is being attained. House Speaker Nancy Pelosi invited congressional leaders, including Senate Majority Mitch McConnell, to discuss government funding …
Leaking Lower
[Chart courtesy of MarketWatch.com] Moving the markets As solid early rally hit the skids, as the Dow performed a 330-point U-turn with two of the three major indexes closing in the red leaving only the Nasdaq above its unchanged line and sporting a +0.50% advance. As has been the case lately, SmallCaps outperformed but even that sector gave up part …