[Chart courtesy of MarketWatch.com] Moving the markets For a change, the major market indexes managed to move higher in sync with the Nasdaq (QQQ) successfully bouncing off its 4-month trend line to close solidly in the green. News reports that the latest trade talks with China had resolved nothing pulled the indexes off their mid-day highs but kept them above …
Diverging Markets
[Chart courtesy of MarketWatch.com] Moving the markets As I pointed out yesterday, Facebook’s (FB) horrific earnings report and news of further revenue deceleration for the second half of this year did spread to the Nasdaq, which stumbled and surrendered most of yesterday’s gains. Not only did FB end up losing $123 billion of its market cap, insider trading rumors are …
Tech Sector Pulls Markets Out Of The Doldrums
[Chart courtesy of MarketWatch.com] Moving the markets The tech sector took the lead during today’s rally, powered by FB’s strong results, which helped their shares to a solid +9.06% gain. While technology was the biggest gainer, 9 of the 11 primary S&P sectors finished higher. The loser of the day was telecommunications with -3.2%, which suffered due to AT&Ts poor …
Soothing Trade-War Fears Propel Equities
[Chart courtesy of MarketWatch.com] Moving the markets Unlike yesterday, when an early rally petered out, today’s sharply higher opening turned out to be the real thing, as equities maintained their upward momentum throughout the session and into the close, thereby scoring some solid gains across the board. Giving the assist were Chinese President Xi Jinping’s suggestions to adopt a less-aggressive …
Major Indexes Rebound As Tech Sell-Off Eases
[Chart courtesy of MarketWatch.com] Moving the markets Despite continued weakness in Facebook (FB -2.56%), the tech sector as a whole managed to recover from yesterday’s sell-off with QQQ rebounding a modest +0.55%. Supporting action came from the loser YTD, namely the energy sector (XLE), which gained +0.56%. Facebook’s troubles with privacy violations continue to make headlines but, as I suggested …
Markets In Disarray
[Chart courtesy of MarketWatch.com] Moving the markets Right after the opening bell, there was no question as to which direction the markets would head as bulls were noticeably absent and weakness spread to most sectors. Anxiety was caused by a tech sell-off sparked by Facebook (FB), now also known as Faceplant, after the social media giant lost -6.77% and took …