[Chart courtesy of MarketWatch.com] Moving the markets Despite several attempts, the bulls were not able to sustain Friday’s upward momentum, and the major indexes pulled back to close moderately in the red, but the dive into the close could be cause for concern. Trade negotiations were in focus again ahead of the looming deadline on US-China tariffs, along with …
ETF Tracker Newsletter For December 6, 2019
ETF Tracker StatSheet You can view the latest version here. JOBS REPORT POWERS MARKETS—THE WEEK ENDS UP UNCHANGED [Chart courtesy of MarketWatch.com] Moving the markets The headline jobs report did not disappoint and showed that 266k new jobs were created vs. 180k expected, while the unemployment rate dipped to 3.5%. As I keep mentioning, it’s only the headline number …
Shrugging Off Trade Dispute Concerns
[Chart courtesy of MarketWatch.com] Moving the markets An early morning pop gave way to a drop, which gave way to a slow but steady recovery with the major indexes managing to reclaim their respective unchanged lines by a small margin. What caused the comeback? Nothing noteworthy, other than a China trade spokesperson uttering the words that computer algos thrive on, …
Recovering Lost Ground
[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 …