[Chart courtesy of MarketWatch.com] Moving the markets All 3 major indexes started the week in rally mode and finished solidly in the green, but only the Dow and S&P 500 set new record highs despite the Nasdaq scoring the best. The NY city terrorist incident disrupted the bullish mood only briefly, and the rally resumed. The main focus for traders …
Snapping The Losing Streak; Tech Sector Finally Rebounds
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes managed to recover in sync for a change with the S&P 500 snapping its 4-day losing streak. Wall Street was continuing to focus on the progress of the tax legislation while looking with much anticipation towards Friday’s jobs report. Apparently, the possibility of a government shutdown did not affect markets, …
A Great Start And A Lousy Ending
[Chart courtesy of MarketWatch.com] Moving the markets The Nasdaq powered ahead early in the session as the Dow and S&P 500 struggled to find some traction. However, the euphoria was short lived as mid-day selling pulled all three indexes lower and below the unchanged line. Tranportations (IYT), who had put up some strong numbers in recent days, under-performed and lost …
Exuberance Fades As Tech Wreck Continues
[Chart courtesy of MarketWatch.com] Moving the markets Overnight exuberance, caused in part by the discovery that Friday’s story from ABC about former national-security advisor Flynn was “fake news”, only had a temporary market moving effect. But clearly helping the bullish cause was the weekend passage of the Senate version’s overhaul of the tax code. Spoiling the party was the continuation …
Tax Plan Optimism Sparks Rally
[Chart courtesy of MarketWatch.com] Moving the markets And the beat goes on. Optimism about the tax plan prospects went into hyper drive with John McCain appearing to be the catalyst by casting his “YES” vote convincing traders that a tax reform may actually happen. That motivated the bullish crowd, and the major indexes jumped. Even though we came off the …
Tech Proves To Be A Drag On The Markets
[Chart courtesy of MarketWatch.com] Moving the markets It’s really no surprise that the best performing sector of 2017 had to eventually come off its lofty levels and back to reality. That moment was today as, despite nine of the 11 S&P sectors gaining, Semiconductors (SMH) took a hit at the rate of -4.24%. Autodesk (ADSK) announced some earnings and restructuring …