[Chart courtesy of MarketWatch.com] Moving the Markets It had to happen eventually. The winning streak came to an end today, as uncertainty reigned in regards to tax cuts and corporate earnings, of which some 200 S&P companies are scheduled to report this week. Of course, given current market levels, we are way overdue for a pause. Interestingly, the markets did …
IBM Surges And Pushes Dow To New Record
[Chart courtesy of MarketWatch.com] Moving the Markets Sometimes you just have to laugh. The Dow rallied sharply by some 160 points with over 100 of them coming from IBM’s jump in stock price of almost 9%, its best in 9 years. You’d think that IBM’s earnings report card set the world on fire, but that was not the case, as …
More All-Time Highs
[Chart courtesy of MarketWatch.com] Moving the Markets Despite the Fed’s minutes from its September meeting, including words of caution among policy makers in regards to the next interest rate hike, market odds spiked that the widely expected December hike would materialize. Further notes indicated that it might take longer than anticipated to get inflation back to the Fed’s 2% target, …
Drifting Below The Unchanged Line
[Chart courtesy of MarketWatch.com] Moving the Markets With bond markets closed today, equities lacked direction and meandered below the unchanged line with downward momentum accelerating late in the session. However, in the end, the losses for the major indexes were relatively minor. The biggest losers were retailers, financials and healthcare, the latter of which suffered from weekend reports that Trump …
Maintaining Upward Momentum
[Chart courtesy of MarketWatch.com] Moving the Markets Even though today’s gains were modest, they were gains nonetheless. The major indexes continued their ascent into record territory despite a slow start right after the opening. However, in the end, the S&P 500 posted its sixth consecutive day of gains. Private sector employment slowed from September with 150k jobs added. All eyes …
Gaining Steam Late In The Session
[Chart courtesy of MarketWatch.com] Moving the Markets After some early aimless meandering, although above the unchanged line, the major indexes picked up some steam late in the day to book another round of records. The Dow, the Nasdaq, the S&P 500 and the Russell all registered all-time highs. You can find a lot of reasons for and against a continuation …