[Chart courtesy of MarketWatch.com] Moving the markets The Dow was the weakling of the day as IBM got spanked at the tune of -7.53%, which equaled a loss of 84 points on the Dow. We had a positive opening, followed by a dump and pump and a soft slide into the close with 2 out the three major indexes managing …
Equities Spike As Bond Yields Pull Back
[Chart courtesy of MarketWatch.com] Moving the markets After several failed rally attempts early last week, the bulls regained the upper hand with the major indexes advancing for the third day in a row. Fears, that the Fed might be on a rate hike binge, were alleviated when 2 of the Fed’s mouth pieces took front and center and calmed down …
An Early Rally Fizzles As Bond Yields Rise
[Chart courtesy of MarketWatch.com] Moving the markets The session started out with the bullish sentiment intact from yesterday’s rebound but ended with the bears taking over causing the major indexes to close at the lows of the day. The cause was “yield creep” as rates continued their march higher with the 10-year yield climbing 5 basis points to end the …
Uncertainty Reigns Ahead Of Jobs Report
[Chart courtesy of MarketWatch.com] Moving the markets It was another roller coaster ride with the indexes vacillating around their unchanged lines. A nice mid-day rally fizzled out and accelerated to the downside in the last hour when dip buyers stepped in to limit the damage. Volatility picked up due to rising interest rates and inflation along with uncertainty ahead of …
Whip-Saw Day Keeps Dow & S&P In The Green
[Chart courtesy of MarketWatch.com] Moving the markets Treasury secretary Mnuchin’s remarks pushed the dollar (UUP) even lower, but in the end, the day was saved by President Trump stepping in with the soothing words that Mnuchin’s statement was taken out of context and a long-term strong dollar policy was still the administration’s goal. This pumped the dollar back up, after …
One Man’s Jawboning Drags Down Markets; US Dollar Gets Clobbered
[Chart courtesy of MarketWatch.com] Moving the markets Things looked pretty hunky dory after the opening with the major indexes storming again into record territory. Then the hammer came down in form of Commerce Secretary Ross’s comments. Bloomberg reported as follows: ROSS: CHINA `SUPERB’ TALKING FREE TRADE, ACTING PROTECTIONIST ROSS: STEEL FORUM HAS MADE `ZERO DIFFERENCE’ FOR OVERCAPACITY ROSS: CHINA IS …