[Chart courtesy of MarketWatch.com] Moving the markets After an early meandering around their respective unchanged lines, the major indexes took a sudden steep dive and quickly red numbers spread across traders’ computer screens. The scramble to find the culprit was on. Turns out that news by the India press that US-China trade negotiations had hit a brick wall, and thereby …
An Early Struggle Followed By A Late Rebound
[Chart courtesy of MarketWatch.com] Moving the markets A sudden mid-morning drop pulled the major indexes further south, after an already weak opening caused by Google’s poor report card, which showed that revenue growth cooled off in Q1 and all major sales categories performed worse than projected. The punishment was immediate with the stock price being down some 8%. Not helping …
A Green Monday
[Chart courtesy of MarketWatch.com] Moving the markets While the major indexes closed in the green to start the week, the gains were minor despite the Nasdaq scoring back to back record closes. The S&P 500 managed to notch a new intra-day high but slipped into the close barely finding support above the unchanged line. The index has now reached an …
ETF Tracker Newsletter For April 26, 2019
ETF Tracker StatSheet https://theetfbully.com/2019/04/weekly-statsheet-for-the-etf-tracker-newsletter-updated-through-04-25-2019/ Q1 GDP Blows Through Expectations [Chart courtesy of MarketWatch.com] Moving the markets The Q1 GDP number blew through expectations by soaring 3.2% annualized, which was some 50% higher than the 2.3% forecast. However, when looking under the hood, analysts realized that one-time items such as a surge in inventories and a smaller trade deficit are simply …
Markets Under Pressure
[Chart courtesy of MarketWatch.com] Moving the markets The markets came under pressure this morning with the Dow dropping some 250 points right at the opening. 3M was the contributor to this downside move as earnings disappointed, but more importantly, the company slashed forward guidance for 2019 and reduced its workforce by 2,000. The punishment was immediate with the stock skidding …
Digesting Yesterday’s Gains
[Chart courtesy of MarketWatch.com] Moving the markets Last Monday, I wrote how the direction of bond yields affects the performance of low volatility ETFs, such as SPLV, compared to the underlying index. Here’s what I said: Case in point is the S&P 500, represented by SPY, which managed to eke out a gain of +0.10% during today’s session. It’s conservative …