[Chart courtesy of MarketWatch.com] Moving the markets An early rally got cut in half by the end of the session, when Fed Vice chairman Clarida opined that more support for the economy was needed, but he expects a rebound by next quarter, despite the current massive drop in unemployment and GDP. He noted: “More policy support will be needed from …
Trying To Find Some Footing
[Chart courtesy of MarketWatch.com] Moving the markets After a couple of down days in the equity markets, a bounce-back was in order, although the conditions were not favorable. Sunday’s news that Warren Buffett had sold all his airline stocks took a toll on the futures markets, which subsequently translated into a weak opening. The major indexes spent most of the …
ETF Tracker Newsletter For May 1, 2020
ETF Tracker StatSheet You can view the latest version here. STARTING MAY ON A SOUR NOTE [Chart courtesy of MarketWatch.com] Moving the markets Some reality struck the markets today, as big tech earnings disappointed and Trump threatened to pick up the tariff war with China again, supposedly for its poor handling on the Covid-19 pandemic. While MSM is still …
Closing A Strong April With A Whimper
[Chart courtesy of MarketWatch.com] Moving the markets After rallying all month, the major indexes stalled today, but were able to wipe out most of March’s losses for the buy-and-hold crowd with the S&P 500 sporting its best monthly return since 1987. Of course, as we know, the rebound was entirely based on Fed support, as the markets were swamped with …
Jolting Bullish Sentiment
[Chart courtesy of MarketWatch.com] Moving the markets Bullish sentiment got an early boost this morning after Gilead Sciences reported that a government clinical trial, designed to evaluate its experimental drug remdesivir in Covid-19 patients, had met the study’s main goal. Hopes were high for progress towards a successful treatment. That news was good for an initial 350-point jump in the …
An Early 400-Point Dow Rally Dumps Into The Red
[Chart courtesy of MarketWatch.com] Moving the markets The current discussion amongst Wall Street strategists involves the question as to whether a test of the March lows is coming, or if investor FOMO (Fear Of Missing Out) is strong enough to keep driving the markets to ever higher levels. With the country starting to reopen slowly, traders apparently have no sense …