[Chart courtesy of MarketWatch.com] The major indexes ended the day with mixed results, as only the S&P 500 and Nasdaq managed to close in the green. The Nasdaq received a significant boost from Tesla, which surged approximately 7% following news of potential regulatory easing for self-driving vehicles. Traders are now turning their attention to Wednesday’s earnings release from chip giant …
ETF Tracker Newsletter For November 15, 2024
ETF Tracker StatSheet You can view the latest version here. FED’S CAUTIOUS STANCE HALTS POST-ELECTION RALLY [Chart courtesy of MarketWatch.com] The major indexes opened lower as the post-election rally came to an abrupt halt following Fed Chair Powell’s comments yesterday that he is “in no hurry” to continue cutting rates. This statement put significant pressure on equities, casting doubt …
Stocks And Cryptos Retreat As Traders Eye Inflation Data
[Chart courtesy of MarketWatch.com] The rally in stocks and cryptocurrencies came to a halt and reversed as traders grappled with recent record highs, shifting their focus to the October Producer Price Index (PPI). The PPI headline number matched forecasts with a 0.2% month-over-month increase, while September’s figure was revised upward from 0.0% to 0.1%. On an annual basis, the PPI …
Tech Stocks Falter, Bitcoin Soars Past $93k
[Chart courtesy of MarketWatch.com] The markets began the day on a positive note as traders sought to maintain the post-election momentum. However, by the end of the session, the major indexes had delivered mixed results. The hope that inflation is under control remains far from reality, a point I have emphasized throughout the year. Today’s Consumer Price Index (CPI) numbers …
Bitcoin Nears $90k Mark, Eyes $100k With Strong ETF Inflows
[Chart courtesy of MarketWatch.com] The markets began the session moving sideways to lower, as traders appeared to take a breather from the highs reached in the post-election rally. Bond yields climbed, with the 10-year yield advancing nearly 0.12% to close at 4.43%, marking its highest level in five months. This increase in bond yields was sufficient to push equities downward …
Dow And S&P 500 Rally As Bitcoin Soars Past $87k
[Chart courtesy of MarketWatch.com] The Dow continued its rally from last week, surpassing the 44,000 mark, while the S&P 500 also made significant strides by crossing the 6,000 level. However, the Nasdaq lagged. With the bond markets closed, trading activity was somewhat limited. Several major banks saw their stock prices rise significantly, contributing to the Dow’s impressive gain of over …