[Chart courtesy of MarketWatch.com] Moving the markets The bond market was the bad guy today, as higher yields scared off stock buyers for the third day in a row. The 10-year yield jumped to 4.18%, the highest since last November, and the 30-year yield was close to its October peak. This hurt real estate stocks, which fell more than 1%, …
Wall Street Wakes Up to Reality After Fitch Cuts U.S. Credit Rating
[Chart courtesy of MarketWatch.com] Moving the markets Wall Street got a wake-up call on Tuesday night when Fitch, a ratings agency, downgraded the U.S. credit rating from AAA to AA+, citing the worsening fiscal outlook for the next three years. But the U.S. sovereign risk didn’t seem to care much, as this chart shows, unless you compare the different presidential …
Small Dip, Big Worries: Investors Face Earnings And Inflation Challenges
[Chart courtesy of MarketWatch.com] Moving the markets The market took a small but widespread dip today, as investors are facing a flood of earnings reports from 160 companies in the S&P 500. The mood was tense, but not hopeless, as most of the firms beat the low expectations that were set for them. Some analysts think this means the economy …
Market Ends July With A Bang, But Will It Last?
[Chart courtesy of MarketWatch.com] Moving the markets The market was a roller coaster today, but the major indexes still managed to end the month on a high note, even though the Fed has not ruled out further rate hikes. The S&P 500 gained 2.9% and posted its fifth consecutive positive month for the first time since August 2021. Investors seem …
ETF Tracker Newsletter For July 28, 2023
ETF Tracker StatSheet You can view the latest version here. MARKET RALLIES ON POSITIVE NEWS, BUT INFLATION THREAT LOOMS LARGE [Chart courtesy of MarketWatch.com] Moving the markets The market was in a good mood today, thanks to some positive news on inflation and earnings. After the wild swings of yesterday, investors breathed a sigh of relief as the Fed’s …
Honeywell, Japan, And Bond Yields Spoil Dow’s Party
[Chart courtesy of MarketWatch.com] Moving the markets The Dow Jones Industrial Average was on a roll this week, hitting new highs on hopes of a strong economy, tame inflation and solid earnings. But the party came to an abrupt halt on Thursday, when the index reversed course and plunged into the red. What happened? One culprit was Honeywell, whose shares …