[Chart courtesy of MarketWatch.com] Moving the markets The markets tried to shake off their August blues by betting on bad news. The Labor Market showed signs of a slowdown, with fewer job openings and lower revisions. The US Macro Data index also dropped for eight days in a row. Some analysts feared a hard landing recession, but Wall Street traders …
Markets Ignore Powell’s Hawkish Tone And Rally On Buy-Program
[Chart courtesy of MarketWatch.com] Moving the markets The markets shrugged off Powell’s hawkish speech at Jackson Hole and rallied on Monday, boosted by a massive buy-program in the final hour. Powell reiterated that the Fed is ready to raise rates further if needed, but also said that it would be careful, and data driven. Lagarde, the ECB chief, echoed her …
ETF Tracker Newsletter For August 25, 2023
ETF Tracker StatSheet You can view the latest version here. POWELL TALKS TOUGH ON INFLATION BUT MARKETS REMAIN OPTIMISTIC [Chart courtesy of MarketWatch.com] Moving the markets Fed Chair Powell’s hawkish remarks at the Jackson Hole symposium did not deter the markets from rallying higher. Powell made it clear that he was ready to raise interest rates further if inflation …
Markets Sell Off Despite Nvidia’s Record Earnings And Revenues
[Chart courtesy of MarketWatch.com] Moving the markets Nvidia’s stellar earnings and revenues were not enough to impress the markets today, as the tech giant saw its shares end the session unchanged. This was a classic case of “buy the rumor, sell the fact,” a well-known adage that describes how investors often anticipate good news and then cash out when it …
Bulls Bet On Nvidia To Save The Market From August Slump
[Chart courtesy of MarketWatch.com] Moving the markets The market was eagerly waiting for Nvidia’s earnings report, which is due out later today. The chipmaker was expected to post impressive growth in both profit and revenue, thanks to its dominance in the artificial intelligence (AI) sector. The bulls were optimistic and pushed the major indexes higher, while the bears took a …
Bank Downgrade Dampens Market Mood
[Chart courtesy of MarketWatch.com] Moving the markets The stock market lost steam on Tuesday as a downgrade of several U.S. banks weighed on the financial sector and overshadowed the gains in tech stocks. S&P Global lowered its credit ratings and outlook for some regional and large banks, citing “tough” operating conditions. The financial sector was the worst performer of the …