[Chart courtesy of MarketWatch.com] 1. Moving the markets After sleeping on the Fed’s statement on interest rates, Wall Street traders decided that the Fed left the door somewhat open to a rate cut. As a result, expectations soared from 80% to 100% that the Fed will “cut” in July. That was enough for the major indexes to gap higher at …
Markets Drift, Then Shift Modestly Higher
[Chart courtesy of MarketWatch.com] 1. Moving the markets One of the most eagerly watched events, namely the Fed’s verdict on interest rates, came and went without much of a market hiccup. A gentle early slide gave way to a modest bounce late in the session, with the major indexes notching another green close and moving within striking distance of taking …
Equities Rebound Led By Energy
[Chart courtesy of MarketWatch.com] 1. Moving the markets Equities managed a small rebound, after 2 days of modest losses kept the major indexes in check. Oil prices spiked as two oil tankers were damaged in suspected attacks off the coast of Iran, increasing tensions between Teheran and Washington. Of course, by default, no matter if it makes sense or not, …
Drifting Aimlessly
[Chart courtesy of MarketWatch.com] 1. Moving the markets Upward momentum was conspicuously absent during this session, which had stocks drift aimlessly lower, interrupted by the occasional bounce to nowhere. The major indexes followed yesterday’s theme by slipping moderately. On the menu was the Consumer Price Index (CPI), which showed prices advancing by an expected +0.1% in April, while the cost …
An Early Rally Stalls And Runs Out Of Steam
[Chart courtesy of MarketWatch.com] 1. Moving the markets Despite another positive start to the session, equities struggled, lost traction and slid into the red, with the major indexes hugging their respective unchanged lines and closing a tad below it. Powering the markets early on were reports from China announcing plans for fresh stimulus to keep their economy running. Hope among …
Keeping The Bullish Dream Alive
[Chart courtesy of MarketWatch.com] Moving the markets Despite an early struggle for direction, bullish momentum picked up with the major indexes notching another day of gains making this the third winning session in a row. The trade battles with China and Mexico continued unabated but mixed news was put simply on the back burner. Traders decided to put their focus …