[Chart courtesy of MarketWatch.com] Moving the markets Good earnings by consumer heavyweights Target, Lowe’s and Home Depot set the bullish mood early on and pushed equities up to a level that they sustained throughout the session. All of yesterday’s losses were wiped out with the S&P 500 closing exactly at Monday’s price. The Fed minutes did not offer any earthshaking …
Aimless Meandering—Then A Dive Into The Close
[Chart courtesy of MarketWatch.com] Moving the markets Numerous attempts by the major indexes to break above their respective unchanged lines were rebuffed, as they ended up diving into the close and breaking a 3-day win streak. Despite Home Depot’s better than expected quarterly results, the markets struggled for altitude all day with worries about the strength of the US economy, …
Trade Hope And A Short Squeeze Combine To Keep The Rally Going
[Chart courtesy of MarketWatch.com] Moving the markets Friday’s rebound did not die today but continued full force thanks to Trump’s successful jawboning about the trade talks. It was more of a concession towards the Chinese telecom giant Huawei, which received a 90-day reprieve, during which it can continue to do business with American companies without needing a case-by-case license. Reports …
Markets Find Some Footing; Retail Sales And Walmart Throw An Assist; Bond Yields Crash
[Chart courtesy of MarketWatch.com] Moving the markets The market got an unexpected assist, which prevented a continuation of yesterday’s slide; at least for the time being. Retail sales surged in July, but that does not mean all is well, as these surges in the past have been followed by contractions. But for this moment in time, it was a positive …
Mayhem In The Markets: Stocks Get Hammered As Roller Coaster Continues—Sell Signals On Deck
[Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s attempt by Trump to put some lipstick on the trade pig, via a possible delay of certain tariffs, now seems to have had only a one-day effect with global realities taking front and center. Newly released data shows a worrisome development regarding economic growth with China and Europe’s economic powerhouse Germany both …
Dangling The China Carrot—Markets Recover
[Chart courtesy of MarketWatch.com] Moving the markets Again, it was a trading day that had me shaking my head. After yesterday’s drubbing, with the Dow losing close to 400 points, an explosive rebound sent the major indexes back into rally mode wiping out just about all of yesterday’s losses. It was a headline, that the speed-reading computer algos interpreted …