[Chart courtesy of MarketWatch.com] Moving the markets Here’s an analysis of the market idiocy we saw over the past couple of trading days. A tip of the hat goes to ZeroHedge for this explanation: In a mirror image of yesterday’s last 10 minutes action, when the S&P dumped by 40 points in seconds, when a $2.4BN “market on close” (MOC) …
An 800-Point Dow Rebound Bites The Dust
[Chart courtesy of MarketWatch.com] Moving the markets Signs of progress in the fight against the coronavirus in Europe and the U.S. kept yesterday’s rebound alive. Even though headlines were mixed, assumptions of a “plateauing” of the crisis prevailed on Wall Street, along with the idea that the markets are bottoming out. While that is a hopeful explanation, however, expectations that …
Glimmers Of Hope Create A Melt Up In Equities
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets jumped out of the gate, as Trump presented an upbeat outlook during Sunday evening’s press conference with officials in New York and Italy reporting notable declines in new cases and deaths: “We are beginning to see the glimmers of progress,” Pence said at a White House news conference on Sunday. …
ETF Tracker Newsletter For April 3, 2020
ETF Tracker StatSheet You can view the latest version here. A GLOOMY JOBS REPORT PENALIZES EQUITIES [Chart courtesy of MarketWatch.com] Moving the markets It could have been a lot worse with equities churning lower today, but thanks to Monday’s surge, the weekly effect was relatively minor with the S&P 500 “only” surrendering a modest -2%, which is tiny when …
Record Initial Jobless Claims—Markets Rally
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets crashed into the red last night, despite a strong start to the session. The cause was another unprecedented surge in initial jobless claims, after last week’s record 3.3 million rise, but this week, we added 6.648 million for a two-week grand total of 10 million new people claiming unemployment benefits, …
No Bullish Meat On This Bone
[Chart courtesy of MarketWatch.com] Moving the markets As the worst quarter in history came to an end with a sell-off, the 2nd quarter started with a bang—but to the downside, leaving the always optimistic Wall Street players gasping. As Barron’s commented, today was the worst first day of a quarter—ever. That’s a lot of “worsts,” and they erased some 50% …