[Chart courtesy of MarketWatch.com] Moving the markets The futures markets kept bullish momentum alive based on news that a live-saving steroid, dexamethasone, was found to cut the risk of coronavirus death by 35% for patients on ventilators, and 20% for those on supplemental oxygen without intubation. How this will turn out is everyone’s guess at this time, but it was …
Digging A Hole And Climbing Out Of It
[Chart courtesy of MarketWatch.com] Moving the markets The markets took a dive this morning with the Dow skidding some 500 points, as fears about a resurgence of Covid-19 spooked traders around the world. Analyst Graham Summers saw it this way: Stocks have fallen hard over the weekend again. The media is pinning this drop on the potential for another COVID-19 …
ETF Tracker Newsletter For June 12, 2020
ETF Tracker StatSheet You can view the latest version here. RIDING A ROLLERCOASTER INTO THE WEEKED [Chart courtesy of MarketWatch.com] Moving the markets After yesterday’s drubbing, some sort of rebound was expected, and this is exactly what we got. However, an early 600-point gain in the Dow evaporated by mid-day with the major indexes briefly dipping into the red, …
Economic Reality Punishes Markets—Did The Bubble Burst?
[Chart courtesy of MarketWatch.com] Moving the markets The futures already had pointed to a weak opening, as traders, after digesting Fed head Powell’s news conference, despite being dovish in nature, saw more negatives than positives. Despite the recent bullish theme in the indexes, Powell admitted that not all is well under then hood of the economy. Additionally, reports covering some …
Dow Dumps And Nasdaq Pumps
[Chart courtesy of MarketWatch.com] Moving the markets It seemed like a tale of two markets with the Dow fluctuating wildly and ending at its lows of the day, while the Nasdaq never touched its unchanged line and powered back above its psychologically important 10k level, where it closed. That was an important milestone to reach, and it took some 50 …
Taking A Breather
[Chart courtesy of MarketWatch.com] Moving the markets The futures markets already indicated a weak opening with equities taking a leg lower based on worries that the current historic rally has exceeded the economic recovery. This was not surprising news, but the real culprit causing some anxiety may have been the upcoming revelation of any policy adjustments to be made during …