[Chart courtesy of MarketWatch.com] Moving the markets Traders found no motivation to drive the market in either direction, as the release of key inflation data cast a broad shadow on activity. On deck first will be April’s Consumer Price Index (PPI) on Wednesday, which is followed by the Producer Price Index (PPI) on Thursday. Volatility was the name of the …
ETF Tracker Newsletter For May 5, 2023
ETF Tracker StatSheet You can view the latest version here. REBOUNDING ON THE LAST DAY OF THE WEEK [Chart courtesy of MarketWatch.com] Moving the markets After four straight days of losses, stocks finally managed to find some bullish momentum, which pulled the major indexes out of a deep hole. They still ended the week with a loss, but Wall …
Here We Go Again: The Next Cockroach Has Surfaced
[Chart courtesy of MarketWatch.com] Moving the markets Observing the markets daily, sometimes I have to laugh out loud, and at other times I simply have to shake my head in disbelief. The latter occurred yesterday, after Fed head Powell had announced that the banking system was “sound and resilient.” It was only a few hours later when the next cockroach …
The Fed Disappoints—Markets Sell Off
[Chart courtesy of MarketWatch.com] Moving the markets As expected, the Fed raised their interest rate by 0.25%, but traders were more interested in the accompanying statement, and that’s where the disappointment came in. The statement was a hawkish pause, which signaled that “some additional policy firming may be appropriate,” as opposed to what traders had hoped for, namely “some additional …
Gravity Leaves Its Mark
[Chart courtesy of MarketWatch.com] Moving the markets After a flat session yesterday, gravity set in and pulled the major indexes into a deep hole, with the Dow being down over 500 points early on. A slow recovery helped lessen the pain, but in the end, losses exceeded 1% with the S&P 500 faring the worst. Right after the opening bell, …
ETF Tracker Newsletter For April 28, 2023
ETF Tracker StatSheet You can view the latest version here. PUMPING INTO THE WEEKEND [Chart courtesy of MarketWatch.com] Moving the markets If it hadn’t been for the Ramp-A-Thon over the last two trading days of the month, the S&P 500 would have ended in the red during April. The Fed’s favorite Personal Consumption Expenditure price index (PCE) rose 0.3% …