[Chart courtesy of MarketWatch.com] Moving the markets An initial bounce caused by strong October retail sales, as well as better-than-expected earnings report cards from Home Depot and Walmart, ran into some resistance mid-day, but the major indexes still managed to eke out a gain. Leading the pack was the Nasdaq with a solid 0.76% advance, while the Dow lagged and …
Slipping And Sliding
[Chart courtesy of MarketWatch.com] Moving the markets One look at the chart above tells the entire story, namely that the markets were aimlessly wandering, as bond yields reversed and spiked, which kept any bullish meme in check. On deck, and awaited with some anxiety, are the quarterly reports from the big box retailers due out later this week. Inflation remains …
ETF Tracker Newsletter For November 12, 2021
ETF Tracker StatSheet You can view the latest version here. FIRST DOWN WEEK IN SIX [Chart courtesy of MarketWatch.com] Moving the markets After weakness in the markets, we saw a rebound attempt yesterday, which faded into the close, but had the Nasdaq come out ahead with a 0.52% gain. This positive theme travelled through the futures market and creature …
Spiraling CPI Handcuffs Equities
[Chart courtesy of MarketWatch.com] Moving the markets Following yesterday’s eye-popping Producer Price report, it came as no surprise to me that today’s soaring CPI release confirmed what I have been pouncing on all year, namely that inflation is here is to say and likely will get worse. US Consumer prices soared at their fastest rate in 40 years, as ZH …
Hot PPI Punishes Markets
[Chart courtesy of MarketWatch.com] Moving the markets The eagerly expected print of the current Producer Price Index (PPI) clearly showed the error of assuming that inflation will be transitory. For a change, analysts had forecast an eye popping 8.6% YoY rise in producer prices, and they nailed that number, which represents a new record high for YoY increases. MoM, the …
Dancing In Record Territory
[Chart courtesy of MarketWatch.com] Moving the markets After Friday’s mid-day dump, which was followed by a pump into the close, the markets registered their best week in over 6 months not for equities but also for bonds and gold. This meme dominated today’s trading environment and was supported by Congress having passed the $ 1 trillion infrastructure spending package. While …