ETF Tracker StatSheet You can view the latest version here. MARKETS IGNORE MOUNTAINS OF BAD NEWS [Chart courtesy of MarketWatch.com] Moving the markets The creation of rumors is one of the oldest tricks in the financial playbook to send markets in a desired direction. Such was the case last night in the futures markets, when original reports that the …
Jobless Claims Soar—Markets Dump And Pump
Jobless Claims Soar—Markets Dump And Pump [Chart courtesy of MarketWatch.com] Moving the markets The major indexes went on another roller coaster ride but managed to eke out a green close. Today’s jobless numbers were almost as bad as last week’s with 5.245 million new filings for unemployment benefits, but at least this was in line with expectations. However, when looking …
Reality Strikes Markets—Earnings And Econ Data Slammed
[Chart courtesy of MarketWatch.com] Moving the markets Even the news scanning computer algos could not prevent an early market dump, as a variety of headlines confirmed what had been feared most, namely, an economic breakdown in a variety of sectors. Here’s a random capture of titles that caught my attention: Homebuilder Sentiment Collapses As Mortgage Purchase Apps Plunge To Lowest …
Hope Of A Reopening Economy Powers Markets
[Chart courtesy of MarketWatch.com] Moving the markets Hope of a reopening of the economy kept the bullish theme alive with the computer algos feasting on the latest news that the worst human toll of the coronavirus may have passed. ZeroHedge summed it up like this: In case stocks needed another reason to soar higher with 20% unemployment, 30% mortgage defaults, …
Slumping Into Earnings Season
[Chart courtesy of MarketWatch.com] Moving the markets In case you missed it or got confused by last week’s efforts by the Fed to rescue the markets via an alphabet soup of emergency measures, analyst and author Graham Summers put together an easy to understand summary: On Thursday the Fed announced a $2.3 trillion (with a “T”) monetary program. In its …
ETF Tracker Newsletter For April 10, 2020
ETF Tracker StatSheet You can view the latest version here. Jobless Claims Surge To 17 Million—Markets Rally [Chart courtesy of MarketWatch.com] Moving the markets The shocking yet not surprising number of the day was the fact that now almost 17 million people have filed initial jobless claims—in the past 3 weeks, which implies an unemployment rate of around 13% …