[Chart courtesy of MarketWatch.com] Moving the markets Last week’s relentless hope that Fed head Powell will be forced to pivot due to recessionary forces (lower rates), which triggered a nice rebound, became questionable as to its timing and may not happen as quickly as the markets had expected. That could affect the duration of the current bullish run. The major …
ETF Tracker Newsletter For July 29, 2022
ETF Tracker StatSheet You can view the latest version here. MAKING UP JUNE’S LOSSES [Chart courtesy of MarketWatch.com] Moving the markets Despite the Fed’s rate hike of 75 bps on Wednesday and yesterday’s Q2 negative GDP print of -0.9%, the markets perceived all of it as a positive, never mind the fact that two consecutive negative GDP readings are …
Bad News Is Good News: Fed’s Rate Hike Pleases Markets
[Chart courtesy of MarketWatch.com] Moving the markets Only thing mattered today, and that was the announcement by the Fed on interest rates. Traders and algos alike engaged in the usual front running, and today they were not disappointed, as the Fed did not surprise with an unexpected hike of 1% but satisfied expectations of 0.75 increase. Late in the session, …
Walmart Cuts Forecast—Punishes Stocks
[Chart courtesy of MarketWatch.com] Moving the markets After the close yesterday, Walmart came out and cut its earnings forecast, which pulled all retailers lower in the afterhours trading session, as fears mounted that consumer spending, or rather the lack thereof, will now not be the driver to keep the U.S. out of a recession. That sour mood carried into today’s …
Treading Water
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes fluttered throughout the session with no clear direction, because traders prepared themselves for the big events later this week. The next 4 trading days will be the busiest, as about one third of the S&P 500 members are scheduled to release their earnings reports. The Fed will be on deck …
ETF Tracker Newsletter For July 22, 2022
ETF Tracker StatSheet You can view the latest version here. SLOPPY AND CHOPPY BUT HIGHER ON THE WEEK [Chart courtesy of MarketWatch.com] Moving the markets Despite a choppy and sloppy trading session, which caused the major indexes to surrender some of their recent hard-fought gains, they ended the week in the plus with the S&P 500 advancing around 2.2%. …