[Chart courtesy of MarketWatch.com] Moving the markets The Major Indexes took a steep dive right after the opening bell caused by geopolitical concerns, as President Trump canceled the widely anticipated summit with N. Korea’s Kim Jong Un. The reason given was alleged “open hostility” from the country. Not helping matters was weakness in the energy sector (-1.7%) and in financials …
Early Slide Followed By A Late Ramp
[Chart courtesy of MarketWatch.com] Moving the markets For most of the session, the major indexes were aimlessly meandering below their respective unchanged lines waiting for the release of the Fed minutes in anticipation of possible changes to interest rate policy. In a sense, that wait was rewarded as markets interpreted the FOMC minutes as “dovish” meaning that rate hikes may …
Trade Wars: Optimism Gives Way To Pessimism; Major Indexes Sink
[Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s rally, which was entirely powered by hope for a U.S./China trade resolution, came under pressure today, after an early follow through ramp petered out in the afternoon with the major indexes heading straight south into the red scoring modest losses. Pessimism replaced optimism as uncertainties over trade policy and geopolitical issues took …
Easing Trade War Fears Power Markets
[Chart courtesy of MarketWatch.com] Moving the markets Right after the opening bell, the major indexes jumped and remained firmly entrenched above the unchanged line for the entire session gaining solidly across the board. Causing this euphoria was hope that the U.S./China trade animosities and rhetoric finally softened after weekend news that the Trump administration would delay implementation of tariffs on …
Rising Bond Yields Keep Markets In Check
[Chart courtesy of MarketWatch.com] Moving the markets An early rally lost steam with the major indexes heading south and closing slightly in the red. It was mixed picture as weakness in the tech arena could not be offset by advancing energy shares and continued strength in SmallCaps (+0.48%). Rising bond yields affected the defensive sectors like utilities (-0.9%) and real …
Poor Economic Data—Markets Rally
[Chart courtesy of MarketWatch.com] Moving the markets When weak data points appear, one way to deal with them is to simply ignore them. That’s what traders did today, as Housing Starts and Permits tumbled in April (-3.7% MoM and -1.78% MoM respectively), although March permits were revised upwards from +1.9% Mom to 3.6% MoM). This was followed by a plunge …