[Chart courtesy of MarketWatch.com] Moving the markets An early rally petered out, as the S&P 500 briefly surpassed another milestone, namely the 3,100 level, and then faded towards its unchanged line. The move was based on nothing but hope that Trump would later, during a scheduled speech, elaborate about the China trade deal. Focused on that target, and that good …
Stalling… But Not Running Out Of Steam
[Chart courtesy of MarketWatch.com] Moving the markets Not just US futures, but global markets as well, hit the skids early on, a sight which we have not seen in some 5 weeks, as the markets have been on a tear ever since dumping during the first 2 days of October. The two catalysts for the early thrashing was simply lack …
ETF Tracker Newsletter For November 8, 2019
ETF Tracker StatSheet You can view the latest version here. SEARCHING FOR CLARITY [Chart courtesy of MarketWatch.com] Moving the markets The futures market took the early lead by heading south after Trump’s confirmation that he has not agreed to roll back tariffs with China, which was opposite of what economic advisor Larry Kudlow had stated. The early dump was …
Optimistic Trade News Stokes Equities
[Chart courtesy of MarketWatch.com] Moving the markets With the earnings season fading away, the US-China trade disagreement moved to center stage again, with positive statements stoking the markets and continuing the relentless push higher. This happened again in the face of sharply rising bond yields with the 10-year jumping an amazing 10.57 basis points to end the day at 1.92%. …
Treading Water
[Chart courtesy of MarketWatch.com] Moving the markets Ever since we had 2 down days at the beginning of October, equities have been on a relentless march higher (green arrow in chart) with virtually no interruption. Despite the Fed’s efforts to lower interest rates, this rally happened in the face of rising bond yields, an event that usually takes the starch …
Building On Friday’s Gains
[Chart courtesy of MarketWatch.com] Moving the markets There wasn’t really a driving force behind today’s continued rally, as the futures markets started the bullish theme via the same old playbook. The trade carrot was dangled again and came into play on a news headline that “a White House officials tells Politico a deal with China is almost there…” That was …