[Chart courtesy of MarketWatch.com] Moving the markets It was another session during which traders adopted a “wait and see” attitude, as they digested the latest earnings reports along with their potential economic consequences. The major indexes chopped around within a narrow range and ended essentially unchanged. Even though the view that earnings have been resilient, given reduced expectations, some profit …
Searching For Clues
[Chart courtesy of MarketWatch.com] Moving the markets Traders spent most of the day examining the latest earnings results for clues to determine whether optimism via higher stock prices was warranted. The major indexes meandered aimlessly around their respective unchanged lines, predominantly below it, until a last hour squeeze play assured a moderately green close, but it pulled the KBW banking …
ETF Tracker Newsletter For April 14, 2023
ETF Tracker StatSheet You can view the latest version here. WEAK RETAIL SALES VS. STRONG EARNINGS [Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s better than expected PPI number pushed all markets solidly in the green, but today’s weak retail sales, in the face strong bank earnings, pulled all indexes lower with stocks, bonds, and precious metals participating in …
Climbing Out Of A Hole
[Chart courtesy of MarketWatch.com] Moving the markets Friday’s March payroll report was largely in line with expectations, as 236k new jobs were created, which was slightly above the 230k anticipated, while the unemployment rate dipped from 3.6% to 3.5%. That number might compel the Fed to remain hawkish for longer with the May Rate-Hike odds now having climbed from 50% …
Battling Back
[Chart courtesy of MarketWatch.com] Moving the markets After a red opening, the major indexes spent the remainder of the session battling back and managed a green close, despite much anxiety ahead of tomorrow’s release of the March jobs report. Since the exchanges are closed on Friday, there will be no market reaction until Monday. Whenever the Bureau of Labor Statistics …
Rangebound
[Chart courtesy of MarketWatch.com] Moving the markets Continued weak economic data points soured traders’ motivation to drive the indexes higher. As a result, the Nasdaq recorded its 3rd straight loss, while only the Dow was able to eke out a green close. The latest ADP private payroll report was another disappointment, after yesterday’s dreadful data, because it showed slowing job …