[Chart courtesy of MarketWatch.com] Moving the markets First, there was more fearmongering, as Moderna’s CEO raised doubts about the efficacy of the current batch of vaccines versus the omicron variant. That took the starch out of any bullish momentum and pulled the major indexes down. Second, in a lesson to all economic hacks, Fed head Powell destroyed the long-held view …
Surrendering Early Gains But Storming Back With A Vengeance
[Chart courtesy of MarketWatch.com] Moving the markets The Dow was the most volatile of the major indexes by giving up an early 380-point gain and retreating almost all the way back to the unchanged line. The sudden turnaround happened with lightning speed after Biden’s announcement that Covid lockdowns were not needed for now, despite MSM fearmongering about the latest omicron …
ETF Tracker Newsletter For November 26, 2021
ETF Tracker StatSheet You can view the latest version here. (Not updated due to Holiday) A RED AND BLACK FRIDAY [Chart courtesy of MarketWatch.com] Moving the markets Last night, when checking the futures markets, it became clear to me that I had to change my plans and write today’s market commentary. Things looked very bleak, and this morning’s opening …
Battling Rising Bond Yields
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes managed to pull themselves out of on early hole, caused by a continued rise in bond yields, which eased later in the session thereby giving a much-needed comeback to the equity spectrum. It looks like the renomination of Fed chief Powell, accompanied by a spike in yields, finally found some …
Surging Bond Yields Stress Nasdaq—Again
[Chart courtesy of MarketWatch.com] Moving the markets Market stress made itself felt again with the Nasdaq getting hammered early on, but the index managed to cut its losses and only surrendered 0.50%, though the Dow and S&P 500 eked out some moderate gains. Rising rates continued to put strain on the tech segment, although financials again benefitted with XLF adding …
Spiking Bond Yields Destroy An Early Rally
[Chart courtesy of MarketWatch.com] Moving the markets An early rally, supported by Biden’s announcement that he would renominate current Fed chair Powell to continue leading the Federal Reserve over Fed governor Brainard, a more dovish choice, reversed and turned into a puke-a-thon. MarketWatch explained: Powell, a former private equity executive, slashed interest rates to near zero and implemented emergency asset …