ETF Tracker StatSheet You can view the latest version here. JOBS, WAGES, AND REVISIONS: THE GOOD, THE BAD, AND THE UGLY [Chart courtesy of MarketWatch.com] Moving the markets The June jobs report was a mixed bag for the markets. The economy added 209k jobs, less than the forecast of 240k, but wages grew faster than expected, raising fears of …
Good Jobs Data Turns Sour For Stocks And Bonds
[Chart courtesy of MarketWatch.com] Moving the markets We all know the saying “when good news is bad news.” Well, today we got a reminder of what that means. ADP announced that private sector jobs jumped by 497k in June, smashing expectations and marking the biggest monthly gain since July 2022. That sounds like good news, right? Wrong. Because this report …
Bond Yields Rise, Dollar Gains, Stocks Struggle
[Chart courtesy of MarketWatch.com] Moving the markets The minutes of the Fed’s June meeting revealed why they decided to hold off on raising interest rates this time. But they also hinted that more hikes are coming in 2023, as they remain confident about the economic recovery. This made some traders nervous, as they were hoping for lower rates sooner rather …
ETF Tracker Newsletter For June 30, 2023
ETF Tracker StatSheet You can view the latest version here. AI BOOM FUELS MARKET OPTIMISM, BUT WILL HISTORY REPEAT ITSELF? [Chart courtesy of MarketWatch.com] Moving the markets The markets defied the central bankers’ warnings of more rate hikes and pushed the major indexes higher to end the quarter with a bang. The tech sector, led by a few AI …
Markets Defy Rate Hike Warnings, GDP Surprises, Gold Slips
[Chart courtesy of MarketWatch.com] Moving the markets The markets went on a roller coaster ride today, ignoring the warnings of Fed Chair Powell and other central bankers who said they would raise interest rates to fight inflation, even if it hurts economic growth. The European markets took the hint and fell sharply, but the US traders shrugged it off and …
Powell Sticks To His Guns On Interest Rates, Wall Street Shrugs
[Chart courtesy of MarketWatch.com] Moving the markets Fed chair Powell sounds like a broken record. He keeps saying he won’t cut interest rates anytime soon, no matter how much Wall Street begs and pleads. He has many allies who back him up on this stance. But Wall Street is in denial. They think Powell will cave in and turn soft. …