[Chart courtesy of MarketWatch.com] Moving the Markets The major indexes limped around their respective unchanged lines all day with only the Nasdaq crawling above it and in the process setting another record close (10 up days in a row). Another soft economic data point disappointed as the Philly Fed survey missed expectations and slumped to its lowest point since November …
Netflix Pushes Nasdaq To Record Highs
[Chart courtesy of MarketWatch.com] Moving the Markets The major indexes spent most of the day below unchanged line. However, thanks to the upward bias in part caused by Netflix reaching nosebleed territory with a P/E ratio of 197, higher than Amazon’s 190, the Nasdaq set another record. Netflix surged over 13% thanks to a surprise jump in international subscriber numbers. …
Hugging The Unchanged Line
[Chart courtesy of MarketWatch.com] Moving the Markets The major indexes zigzagged throughout the day but stayed close to the unchanged line, and that’s where we ended up with only the Nasdaq closing fractionally higher. On the front burner is much anticipation about the upcoming earnings season with some key quarterly results due out later this week. On the day, healthcare …
ETF Tracker Newsletter For July 14, 2017
ETF Tracker StatSheet https://theetfbully.com/2017/07/weekly-statsheet-etf-tracker-newsletter-updated-07132017/ WEAK DATA PROPELS INDEXES TO RECORD TERRITORY [Chart courtesy of MarketWatch.com] Moving the Markets It did not matter that consumer sentiment tumbled to its lowest since the election or that Retail sales were down -0.2% posting their weakest growth in 3 years, nor suggestions that Q2 GDP estimates might be revised sharply lower. It was simply …
Day 2 Of Yellen’s Testimony: Dow Rides Into Record Territory
[Chart courtesy of MarketWatch.com] Moving the Markets The recent trend of warnings from various Fed mouthpieces continued today with Lael Brainard commenting that “asset valuations do look a bit stretched,” another hint designed to take the starch out of upward momentum and to instill the thought that current market levels may not be sustainable. It was a nice try, but …
Fed’s Yellen Flip Flops And Spikes Equities
[Chart courtesy of MarketWatch.com] Moving the Markets This one came out of left field. Fed chair Yellen’s testimony before congress was interpreted as “dovish” an odd statement given the recent jawboning about “asset prices looking rich.” After weeks of talking about higher rates and reducing its balance sheet, did the Fed just flip flop and acknowledge once again its ignorance? …