[Chart courtesy of MarketWatch.com] Equities drifted throughout the session following a strong week where the S&P 500 gained 1.5%. While the S&P 500 and Nasdaq ended in the red, the Dow managed to close at a record high. Fed Chair Powell’s dovish stance on interest rates fueled traders’ enthusiasm, raising hopes that the long-awaited rate cut might finally materialize at …
ETF Tracker Newsletter For August 23, 2024
ETF Tracker StatSheet You can view the latest version here. WALL STREET CELEBRATES POWELL’S AMBIGUOUS RATE CUT SIGNAL [Chart courtesy of MarketWatch.com] The major indexes surged higher following Fed Chair Powell’s commentary, which hinted at upcoming interest rate cuts. Although Powell was vague about the specifics, his statement that “the time has come for policy to adjust” resonated strongly, …
Weekly StatSheet For The ETF Tracker Newsletter – Updated Through 08/22/2024
ETF Data updated through Thursday, August 22, 2024 How to use this StatSheet: These are the main indicators that tell you when to buy or sell Domestic and International ETFs (section 1 and 2). They do that by comparing their position to their long-term M/A (Moving Average). If they cross above, and stay there, it’s a green light to buy. …
Equities Retreat, Dollar Rebounds: Market Awaits Powell’s Insights
[Chart courtesy of MarketWatch.com] As we approach the conclusion of the Jackson Hole symposium, the major indexes have been experiencing volatility ahead of Fed Chair Powell’s anticipated commentary. Historically, Powell’s speeches at Jackson Hole have often boosted equities, but when they haven’t, sharp declines have followed. Currently, the S&P 500 is within 1.25% of its all-time intraday high set in …
Fed Minutes Spark Market Rally Amid Rate Cut Speculation
[Chart courtesy of MarketWatch.com] In anticipation of the minutes from the latest Federal Reserve policy meeting, traders pushed the major indexes higher, as sentiment turned bullish following yesterday’s pause. The latest retail earnings presented a mixed picture, with Target rallying 15% while Macy’s stock dropped more than 12%. While the Central Bank maintained its stance and left rates unchanged at …
Economic Indicators Signal Weakness: Gold Surges, Small Caps Hammered
[Chart courtesy of MarketWatch.com] Equities slipped early on, as bullish sentiment faltered slightly after the consistent recovery over the past week, with the S&P 500 registering eight straight winning sessions. Reduced volatility was the main contributor after the disastrous start to August. Earnings reports were mixed, with Palo Alto Networks jumping while home retailer Lowe’s dropped after poor revenue and …