[Chart courtesy of MarketWatch.com] The markets were in limbo this morning after Fed head Powell’s comments that progress on inflation has been made, but that he’s not ready to cut rates yet. That caused the indexes to vacillate with traders being unsure what to make of those remarks. He then added that “we want to be more confident that inflation …
AI’s Promise Amidst Economic Pessimism: A New Era For Tech And Productivity
[Chart courtesy of MarketWatch.com] A choppy opening marked the first day of trading in July. Despite tech stocks edging higher there seemed to be some rotation out of that sector, as Nvidia slipped some 3% and leading other compatriots like AMD and Broadcom lower. While some traders might dismiss the AI development as just another temporary mania, I think it …
ETF Tracker Newsletter For June 28, 2024
ETF Tracker StatSheet You can view the latest version here. H1 2024: A TALE OF RALLIES AND DISLOCATIONS – IS THE MARKET DANCING ON THIN ICE? [Chart courtesy of MarketWatch.com] The major indexes started the session on a positive note, as traders were pleased with the latest release of the Personal Consumptions Expenditure index. The PCE showed that inflation …
S&P 500 Nears Year-End Predictions Amidst Housing Market Collapse And Inflation Fears
[Chart courtesy of MarketWatch.com] Two of the three major indexes slipped early on, while the Nasdaq powered higher, as Nvidia edged up another 1% on top of Tuesday’s 7% gain. However, it had given most of it back by the time the closing bell rang. The MAG 7 stocks bucked that wild ride and continued yesterday’s path higher on a …
Mixed Economic Signals As Tech Rises And Consumer Confidence Wavers
[Chart courtesy of MarketWatch.com] A rebound in the tech sector helped the S&P 500 and Nasdaq to find some footing, with both indexes starting and ending the session on a positive note. Nvidia gave a much-needed assist by bouncing back from its latest slide, as did the MAG 7 stocks. The recent sell off pushed the AI darling more than …
Economic Crossroads: Inflation Data Looms As Gold And Oil Rally, Bitcoin Bruised
[Chart courtesy of MarketWatch.com] The Nasdaq was lagging as today’s session got underway with traders rotating out of the overbought tech sector and into financials, utilities, and energy, with oil climbing above the $81 level. Only the Dow managed a green close. Nvidia dropped some 5% on top of last week’s 4% decline, after the stock snapped an eight-week winning …