[Chart courtesy of MarketWatch.com] Moving the markets Fed chair Powell testified before congress today, reiterating his stance that inflation is still high and that interest rates will likely rise by the end of the year. He also expressed confidence in the resilience of the U.S. banking system, despite the headwinds from the pandemic and supply chain disruptions. However, his words …
Stocks Need A Breather After AI Frenzy And Housing Data Surprise
[Chart courtesy of MarketWatch.com] Moving the markets Stocks took a dive early in the session, continuing from Friday’s slump, as they needed a break after the recent unstoppable climb to the highest levels in a year driven by the AI craze. Suddenly, investors started to worry about paying too much for their shares, while analysts struggled to find convincing reasons …
ETF Tracker Newsletter For June 16, 2023
ETF Tracker StatSheet You can view the latest version here. MARKETS SHRUG OFF $4.2 TRILLION OPTIONS EXPIRY AND INFLATION DATA, BUT BEWARE OF AI BUBBLE [Chart courtesy of MarketWatch.com] Moving the markets Today was a huge day for options traders, with $4.2 trillion worth of contracts expiring. But the markets didn’t seem too fazed by the massive turnover. They …
Stock Market Rallies Despite Hawkish Signals From Fed And ECB
[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 …