[Chart courtesy of MarketWatch.com] Moving the Markets Private sector hiring as reported by ADP, which added a seasonally adjusted and bigger–than-expected 253k rise in employment for May, set the tone for the market, as the major indexes climbed steadily above the unchanged line and into record territory. As has been the case in the recent past, negative news like US …
Closing Out May On A Weak Note
[Chart courtesy of MarketWatch.com] Moving the Markets For the second day in a row, the major indexes limped slightly lower but ended up closing the out the month on the plus side. The Nasdaq took the lead with +2.5%, followed by the S&P 500 with +1.2%, while the Dow desperately hung on to the unchanged line but conquering it by …
Uncertainty Reigns; Dollar Gets Pummeled
[Chart courtesy of MarketWatch.com] Moving the Markets Uncertainty and volatility reigned supreme as Secretary of State Tillerson’s meeting in Russia initially generated a small relief rally in the dollar with bond yields shooting higher. Then the hammer came down as Trump commented on a variety of issues including China and the overvalued US dollar. That was all it took, and …
Banks & Stocks Bleed While Gold Shines
[Chart courtesy of MarketWatch.com] Moving the Markets An early rally attempt driven by Apple reaching new all-time highs was rebuffed in a hurry, as worries surfaced that Trump may not be able to deliver on his promised tax cuts as quickly as had been assumed, an assumption that has been the reckless driver of the market in recent months. Right …
Dow Slices Through The 20,000 Milestone Marker
[Chart courtesy of MarketWatch.com] Moving the Markets It seemed like forever, but it’s been only 28 days of treading water before upward momentum was sufficient enough to conquer the 20k milestone. Looking back to the 800 plus point drop in the Dow during election night, which appeared to signal a return to bear market territory, it’s been a truly remarkable …
One Man’s Opinion: January 2017 Earnings Are Going To Be A Bloodbath
By EconMatters We discuss a preview of January`s Earnings releases and how massive the gap down in most of these stocks will be when they report in a month. There have already been two earning`s guide downs from industrial companies this past week in UTX, and HON. But with the run up in financials and energies for the last month …