[Chart courtesy of MarketWatch.com] 1. Moving the markets After sleeping on the Fed’s statement on interest rates, Wall Street traders decided that the Fed left the door somewhat open to a rate cut. As a result, expectations soared from 80% to 100% that the Fed will “cut” in July. That was enough for the major indexes to gap higher at …
Markets Drift, Then Shift Modestly Higher
[Chart courtesy of MarketWatch.com] 1. Moving the markets One of the most eagerly watched events, namely the Fed’s verdict on interest rates, came and went without much of a market hiccup. A gentle early slide gave way to a modest bounce late in the session, with the major indexes notching another green close and moving within striking distance of taking …
Trump Dangles The ‘Trade Carrot’—Markets Pump
[Chart courtesy of MarketWatch.com] 1. Moving the markets Trump got the markets pumping this morning after tweeting that there will be an “extended meeting” with China’s Xi at the upcoming G-20 meeting in Japan. Bloomberg also added that the two leaders had confirmed a plan for meeting on the sidelines. That was enough hype for the headline-scanning computer algos to …
Stuck in Limbo
[Chart courtesy of MarketWatch.com] 1. Moving the markets An early rally ran out of steam, but the major indexes managed to eke out a small gain thanks to a positive spin on social media and entertainment stocks. Economic news was not awe inspiring, as the NY manufacturing survey crashed the most on record, from +17.8 to -8.6 in June, which …
Equities Rebound Led By Energy
[Chart courtesy of MarketWatch.com] 1. Moving the markets Equities managed a small rebound, after 2 days of modest losses kept the major indexes in check. Oil prices spiked as two oil tankers were damaged in suspected attacks off the coast of Iran, increasing tensions between Teheran and Washington. Of course, by default, no matter if it makes sense or not, …
Drifting Aimlessly
[Chart courtesy of MarketWatch.com] 1. Moving the markets Upward momentum was conspicuously absent during this session, which had stocks drift aimlessly lower, interrupted by the occasional bounce to nowhere. The major indexes followed yesterday’s theme by slipping moderately. On the menu was the Consumer Price Index (CPI), which showed prices advancing by an expected +0.1% in April, while the cost …