[Chart courtesy of MarketWatch.com] Moving the Markets After skidding two days in a row, the major indexes bounced back and erased their recent losses with the S&P ending the session at the same level where we closed on Monday. Giving an assist was the widely expected passage of the tax bill in the House. That in itself is progress but …
Lack Of Tax-Overhaul Progress Whacks Sentiment
[Chart courtesy of MarketWatch.com] Moving the Markets While the major indexes suffered their biggest one-day percentage drops since September, as MSM reports, we have to remember that, when looking at the entire 2017 YTD performance, today’s 0.5% pullback is hardly newsworthy. Nevertheless, a weak energy sector with XLE correcting -1.16% did not help matters. And, as I reported just about …
Major Indexes Sag As Tax Reform Acrobatics Continue
[Chart courtesy of MarketWatch.com] Moving the Markets The major indexes sagged as uncertainty about the tax reform tug-of-war continued to take center stage. Not helping matters was a dive in crude oil along with weakness from heavyweights Apple (AAPL) and Boeing (BA). But the stock that really took a spanking was GE (-5.89% for the day) after cutting its dividend …
Eking Out A Tiny Gain
[Chart courtesy of MarketWatch.com] Moving the Markets The major indexes dropped into the red right after the opening bell but managed to climb out of the basement fairly quickly only to spend the rest of the session around the unchanged line without much conviction. In the end, we closed in the green but only by the slightest of margins. Upside …
Snapping The Winning Streak
[Chart courtesy of MarketWatch.com] Moving the Markets The Dow’s seven-day win streak came to an end today, as technology and industrials took the brunt of the sell-off, the negative effects of which were greatly reduced thanks to the afternoon rebound. However, worries about a possible delay in the implementation of the corporate tax cut plan by one year proved to …
Carving Out New Highs
[Chart courtesy of MarketWatch.com] Moving the Markets It appears that we’re back to normal—the new normal that is. I am talking about the pattern we’ve come to know very well this year. Namely, a weak opening followed by a mid-day bounce and a strong finish accompanied by new all-time highs. That’s exactly what we got, as the major indexes scored …