[Chart courtesy of MarketWatch.com] Moving the markets The stock market had a surprising comeback today, despite the gloomy outlook from the Fed and the ECB. Both central banks signaled more interest rate hikes this year, which usually dampens investors’ mood. But traders seem to think that Powell is bluffing and won’t tighten the monetary policy too much. They are betting …
Hawkish Pause: How The Fed Confused The Market
[Chart courtesy of MarketWatch.com] Moving the markets The Fed decided to hold off on raising interest rates this month, despite signs of inflation in the economy. This was good news for traders who were hoping for a pause in the Fed’s tightening cycle. But it also raised some questions about the Fed’s credibility and its ability to fight inflation in …
Inflation Data Sends Mixed Signals Ahead Of Fed Meeting
[Chart courtesy of MarketWatch.com] Moving the markets The CPI, which measures the average change in prices of consumer goods and services, rose by 4% in May compared to a year ago. That was the lowest annual increase since March 2021, and in line with what economists had predicted. But the Core CPI, which excludes food and energy prices and is …
ETF Tracker Newsletter For June 9, 2023
ETF Tracker StatSheet You can view the latest version here. THE STOCK MARKET BUBBLE AND THE TRILEMMA: WHAT’S NEXT? [Chart courtesy of MarketWatch.com] Moving the markets The tech rally seems unstoppable, even as the economy struggles. Just look at the latest jobless claims, which hit a new high since last October. Sure, some people found work and left the …
Beware Of Narrow Breadth: Why This Rally Might Fail
[Chart courtesy of MarketWatch.com] Moving the markets The S&P 500 is close to its highest level in nine months, but don’t get too excited. This rally is driven by a few big stocks, while most of the market is lagging. That’s a sign of weakness, not strength, according to analyst Lance Roberts. He explains: Breadth is important. A rally on …
Apple’s “Appulus” Fails To Impress As Market Turns Sour
[Chart courtesy of MarketWatch.com] Moving the markets The market rally fizzled out on Monday as the major indexes gave up their early gains and closed nearly flat or lower. The Dow was the biggest loser, while the S&P 500 and Nasdaq barely stayed above water. According to Bespoke Investment Group, the S&P 500 is now more overbought than any time …