[Chart courtesy of MarketWatch.com] Moving the Markets An early rally, ahead of the Fed minutes, fizzled after their release with the S&P 500 kissing its unchanged line before rebounding and ending up slightly in the green. The Dow and Nasdaq followed suit in similar fashion. Contributing to some turmoil was President Trump’s decision to disband his advisory panel while political …
Dow Slips For 2nd Straight Day
[Chart courtesy of MarketWatch.com] Moving the Markets Yesterday’s slippage continued early this morning, but dip buyers stepped in encouraged by a NT Times story alleging that Trump’s ‘Fire and Fury’ words were his own and not US policy. During the last hour, the whipping boy of the year, AKA the VIX, was spanked again and while helping the indexes recover, …
Trump’s ‘Fire And Fury’ Speech Takes Starch Out Of Upward Momentum
[Chart courtesy of MarketWatch.com] Moving the Markets The major indexes did their customary morning dip and then started to recover to cross solidly above their respective unchanged lines. Hedge fund heavyweight Jeff Gundlach’s market warnings were offset somewhat by the usual VIX beating to keep the Dow winning streak alive. However, Trump’s “Fire and Fury” speech directed towards North Korea …
Lowest Volume Since 2001; Dow Ekes Out A Record Close
[Chart courtesy of MarketWatch.com] Moving the Markets The Dow continued with its 9th record close in a row, which is its longest streak since February. The S&P and Nasdaq ended the day higher as well with the Nasdaq leading the pack with +0.51%. However, it was Semiconductors (SMH), part of the 10 ETFs in the Spotlight, which took top billing …
Dow Moves Within Striking Distance Of 22,000
[Chart courtesy of MarketWatch.com] Moving the Markets The theme of the “new normal” continued as less than glowing reports on inflation, manufacturing and collapsing ‘hard’ economic data, were brushed aside with the major indexes continuing their march into record territory. The Dow has now climbed to within striking distance of the 22,000 milestone marker. Crude oil slipped -1.89% joined by …
Day 2 Of Yellen’s Testimony: Dow Rides Into Record Territory
[Chart courtesy of MarketWatch.com] Moving the Markets The recent trend of warnings from various Fed mouthpieces continued today with Lael Brainard commenting that “asset valuations do look a bit stretched,” another hint designed to take the starch out of upward momentum and to instill the thought that current market levels may not be sustainable. It was a nice try, but …