[Chart courtesy of MarketWatch.com] Moving the markets Even the news scanning computer algos could not prevent an early market dump, as a variety of headlines confirmed what had been feared most, namely, an economic breakdown in a variety of sectors. Here’s a random capture of titles that caught my attention: Homebuilder Sentiment Collapses As Mortgage Purchase Apps Plunge To Lowest …
Hope Of A Reopening Economy Powers Markets
[Chart courtesy of MarketWatch.com] Moving the markets Hope of a reopening of the economy kept the bullish theme alive with the computer algos feasting on the latest news that the worst human toll of the coronavirus may have passed. ZeroHedge summed it up like this: In case stocks needed another reason to soar higher with 20% unemployment, 30% mortgage defaults, …
Slumping Into Earnings Season
[Chart courtesy of MarketWatch.com] Moving the markets In case you missed it or got confused by last week’s efforts by the Fed to rescue the markets via an alphabet soup of emergency measures, analyst and author Graham Summers put together an easy to understand summary: On Thursday the Fed announced a $2.3 trillion (with a “T”) monetary program. In its …
ETF Tracker Newsletter For April 10, 2020
ETF Tracker StatSheet You can view the latest version here. Jobless Claims Surge To 17 Million—Markets Rally [Chart courtesy of MarketWatch.com] Moving the markets The shocking yet not surprising number of the day was the fact that now almost 17 million people have filed initial jobless claims—in the past 3 weeks, which implies an unemployment rate of around 13% …
Markets Salivating On Hopes Of U.S. Removing Containment Measures
[Chart courtesy of MarketWatch.com] Moving the markets Here’s an analysis of the market idiocy we saw over the past couple of trading days. A tip of the hat goes to ZeroHedge for this explanation: In a mirror image of yesterday’s last 10 minutes action, when the S&P dumped by 40 points in seconds, when a $2.4BN “market on close” (MOC) …
An 800-Point Dow Rebound Bites The Dust
[Chart courtesy of MarketWatch.com] Moving the markets Signs of progress in the fight against the coronavirus in Europe and the U.S. kept yesterday’s rebound alive. Even though headlines were mixed, assumptions of a “plateauing” of the crisis prevailed on Wall Street, along with the idea that the markets are bottoming out. While that is a hopeful explanation, however, expectations that …