[Chart courtesy of MarketWatch.com] Moving the markets The much-awaited trade deal did not happen, but markets were relieved that the situation did not worsen. In fact, Trump and his counterpart Xi agreed to resume talks that had ended in May. Both sides gave a little with Trump lifting some restrictions on telecom giant Huawei to conduct business with U.S. companies, …
ETF Tracker Newsletter For June 28, 2019
ETF Tracker StatSheet You can view the latest version here. EDGING HIGHER ON HOPE FOR U.S.-CHINA TRADE PROGRESS [Chart courtesy of MarketWatch.com] Moving the markets While the major indexes traded above their respective unchanged lines throughout the session, a late push higher appeared to put an exclamation mark at the end of the day, as if to imply that …
Bad News Keep Markets Elevated—Hope Prevails Of A 0.5% July Rate Cut
[Chart courtesy of MarketWatch.com] Moving the markets Boeing put a dent into the Dow’s performance today, which lagged as a result of news that the 737 MAX airplane has a “glitch” that could send it into an “uncontrollable” nosedive. That sent the shares tumbling early on, but they ended up stabilizing and finishing with a minor loss of some -2.5%. …
China Trade Deal Optimism Turns Into A False Alarm
[Chart courtesy of MarketWatch.com] 1. Moving the markets I had to laugh this morning, when I saw the early market spike explained as having been a grammatical error. According to an early CNBC headline saying that Treasury Secretary Mnuchin said a trade deal “IS” 90% complete, and repeated by Bloomberg, pushed the computer algos into buying mode. As it turned …
Skidding Lower As Fed Disappoints
[Chart courtesy of MarketWatch.com] 1. Moving the markets While equity markets can’t get enough dovishness from the Fed, to keep the rally going, today we saw some disappointment kick in, as traders translated the Fed’s comments as too hawkish. Fed chief Powell offered a “wait-and-see” posture on interest rates, which means that they prefer to continue monitoring the economy for …
Losing Some Altitude
[Chart courtesy of MarketWatch.com] 1. Moving the markets As was to be expected, the major indexes wandered aimlessly slightly above and below their respective unchanged lines with only the Dow being able to eke out a green close. With no news from the Fed expected, and the G-20 meeting on deck next weekend in Japan, we may seem some more …