[Chart courtesy of MarketWatch.com] The major indexes advanced early on as traders did not see any adverse effects from the Trump assassination attempt. In fact, the opposite happened with the general viewpoint being that this event could even further propel Trump’s popularity in the polls. Most of Wall Street’s preoccupation was the barrage of incoming earnings this week. Some insurers …
PPI SURGE IGNORED AS TRADERS FOCUS ON RATE CUT HOPES; ECONOMIC SURPRISE INDEX HITS 2015 LOWS
[Chart courtesy of MarketWatch.com] After yesterday’s pullback, bullish sentiment resurfaced, and the major indexes stormed ahead and closed solidly in the green. The rally was broad based, which helped some of the non-tech areas to scoop up some gains, with especially Small Caps scoring their best week in 8 months. An enormous short squeeze provided the necessary firepower. The …
Gold Surges, Nasdaq Slumps: Economic Uncertainty Drives Market Shifts
[Chart courtesy of MarketWatch.com] The much-awaited CPI fell 0.1% last month from May, which reduced the annual inflation rate down to 3%. Expectations were for a monthly increase of 0.1% and annual rate of 3.1%. Core CPI, which excludes food and energy, and is the most closely watched number by the Fed, came in at an annual rate of 3.3%, …
Rumors Of Leaked CPI Data Fuel Market Gains: Will Tomorrow’s Release Disappoint?
[Chart courtesy of MarketWatch.com] Wall Street’s optimism that the upcoming inflation numbers will be favorable for the markets carried over into today’s session, as the S&P 500 rose for a seventh straight day. Economists expect the June CPI to advance 0.1% MoM and 3.1% YoY. The core CPI, which does no include food or energy prices, is predicted to have …
Markets Hold Steady Awaiting Powell’s Testimony And Upcoming Inflation Data
[Chart courtesy of MarketWatch.com] The S&P 500 and Nasdaq kept inching higher with traders trying to figure out the true meaning behind Powell’s prepared remarks. He opined that keeping interest rates elevated for too long could risk further economic growth, which Wall Street took as a hint that a less restrictive policy might be on the horizon. On the other …
Traders Eye CPI And PPI As Market Sentiment Remains Cautiously Optimistic
[Chart courtesy of MarketWatch.com] The major indexes inched higher this morning with the S&P 500 rising to a new record, after having advanced for its 4th week out of the last five. This move was supported by hopes that allegedly easing inflation in combination with a weakening economy could cause the Fed to cut interest rates. In the end, a …