[Chart courtesy of MarketWatch.com] Moving the markets It was a tough Tuesday for stocks as they started the week with a drop, dragged down by rising oil prices. Saudi Arabia decided to keep cutting its oil production by 1 million barrels per day, pushing the West Texas Intermediate futures above $87 per barrel, the highest since November. That’s gotta hurt! …
ETF Tracker Newsletter For September 1, 2023
ETF Tracker StatSheet You can view the latest version here. US JOBS REPORT: MORE QUESTIONS THAN ANSWERS [Chart courtesy of MarketWatch.com] Moving the markets The US jobs report for August was a mixed bag that left investors scratching their heads. On one hand, the unemployment rate jumped to 3.8%, the highest since January, suggesting a slowdown in the labor …
Stocks End August On A Sour Note As Inflation And Bond Yields Weigh
[Chart courtesy of MarketWatch.com] Moving the markets The stock market had a roller-coaster ride on Thursday, as an early rally fizzled out and left only the Nasdaq in the green. The other two major indexes closed slightly lower, snapping a 4-day winning streak. The month of August was a bumpy one for stocks, as the S&P 500 trimmed its losses …
Bad News Boosts Stocks, But For How Long?
[Chart courtesy of MarketWatch.com] Moving the markets The stock market seems to be living in a paradox these days. Weak economic data, which usually spells trouble for equities, has been boosting them instead. Why? Because investors are hoping that the Fed will ease its monetary policy in response to the slowdown. On Wednesday, traders got another dose of bad news. …
Bad News Is Good News: Markets Rally On Hopes For Rate Cuts
[Chart courtesy of MarketWatch.com] Moving the markets The markets tried to shake off their August blues by betting on bad news. The Labor Market showed signs of a slowdown, with fewer job openings and lower revisions. The US Macro Data index also dropped for eight days in a row. Some analysts feared a hard landing recession, but Wall Street traders …
Markets Ignore Powell’s Hawkish Tone And Rally On Buy-Program
[Chart courtesy of MarketWatch.com] Moving the markets The markets shrugged off Powell’s hawkish speech at Jackson Hole and rallied on Monday, boosted by a massive buy-program in the final hour. Powell reiterated that the Fed is ready to raise rates further if needed, but also said that it would be careful, and data driven. Lagarde, the ECB chief, echoed her …