[Chart courtesy of MarketWatch.com] Moving the markets The bulls were in charge today, lifting the major indexes higher with little resistance from the bears. The Dow finally snapped its losing streak of six days, thanks to a tech rally. A flurry of positive economic data also boosted the market mood, showing signs of strength in the economy, despite the looming …
Tech Sector Loses Steam As Market Drifts Lower
[Chart courtesy of MarketWatch.com] Moving the markets The bulls are still on vacation as the market continues to drift lower. The major indexes barely moved today but ended up in the red zone again. The Nasdaq suffered the most, as tech stocks lost their mojo. Interestingly, the S&P 500, which had been driven by a handful of big tech names, …
ETF Tracker Newsletter For June 23, 2023
ETF Tracker StatSheet You can view the latest version here. BEARS MAUL BULLS AS INFLATION AND RECESSION FEARS MOUNT [Chart courtesy of MarketWatch.com] Moving the markets The bulls took a break this week as the bears came out to play. The main indexes snapped their winning streak as inflation fears, Fed tightening, and recession worries spooked the traders. The …
How A Cartoon Explains The Crazy Stock Market
[Chart courtesy of MarketWatch.com] Moving the markets The stock market was a rollercoaster ride yesterday, with the S&P 500 and Nasdaq barely ending in the green after a three-day losing streak. The culprit? Fed chair Powell’s hawkish comments on more rate hikes to tame inflation. The economic outlook was also gloomy, with the US Leading Economic Indicator (LEI) dropping for …
Inflation Eats Away At Real Wages As Powell Sticks To His Script
[Chart courtesy of MarketWatch.com] Moving the markets Fed chair Powell testified before congress today, reiterating his stance that inflation is still high and that interest rates will likely rise by the end of the year. He also expressed confidence in the resilience of the U.S. banking system, despite the headwinds from the pandemic and supply chain disruptions. However, his words …
Stocks Need A Breather After AI Frenzy And Housing Data Surprise
[Chart courtesy of MarketWatch.com] Moving the markets Stocks took a dive early in the session, continuing from Friday’s slump, as they needed a break after the recent unstoppable climb to the highest levels in a year driven by the AI craze. Suddenly, investors started to worry about paying too much for their shares, while analysts struggled to find convincing reasons …