[Chart courtesy of MarketWatch.com] Moving the markets Today was reversal day, as the trade soap opera story was changed again based on an unsourced rumor that a phase-1 deal was still in the works. Even though nothing of substance was offered, it was enough hope for the computer algos to shift in reverse and pull the markets out of the …
Torpedoing The Markets: Stocks And Bond Yields Tumble
[Chart courtesy of MarketWatch.com] Moving the markets As I pondered yesterday, the While House indeed fired the next salvo about the trade talks, but it was not what the markets expected. Stocks got hit hard when Trump announced that the idea of holding off on a US-China trade deal until after the 2020 election was appealing. This undermined confidence and …
One-Two Punch Spooks Markets
[Chart courtesy of MarketWatch.com] Moving the markets Just as I posted the amazing fact last Wednesday that the S&P 500 had not corrected more than -0.5% in 35 days, it happened suddenly with the index shedding a moderate -0.86%. The markets got hit right at the opening with a one-two punch in form of a worse-than-expected manufacturing report and mixed …
Bullish Sentiment Rocks
[Chart courtesy of MarketWatch.com] Moving the markets The markets continued to edge higher with the Dow and Nasdaq lagging early on but picking up steam mid-session to join the S&P 500 in green territory. Along the path, more records highs were set with positive economic data providing the necessary ammunition for the gains, which accelerated into the close. There was …
Trade Optimism Keeps The Bullish Theme Alive
[Chart courtesy of MarketWatch.com] Moving the markets The major indexes managed to bounce back from early weakness and hovered safely above their respective unchanged lines bouncing in and out of record territory. The fact that trade news said absolutely nothing new but mainly regurgitated the same old stuff as “we reached consensus on properly resolving relevant issues,” while the parties …
Rosy Trade Outlook Powers Markets
[Chart courtesy of MarketWatch.com] Moving the markets The markets took another jump higher powered by some mega mergers and the good old stand-by, namely the trade talks. All last week’s concerns vanished over the weekend on China’s decision to issue guidelines and raise penalties for intellectual property theft. This was immediately interpreted as a step in the right direction boosting …