[Chart courtesy of MarketWatch.com] US equity ETFs ended the first day of the quarter mostly higher after data released by the Institute for Supply Management showed US manufacturing activity rose to 51.5 in September, marking its first expansion in four months. However, risk appetite diminished after Fed Chairman Ben Bernanke said headwinds to the economy due problems in Europe and …
Stocks Snap Losing Streak After Spain Budget; Europe Rises After Choppy Day
[Chart courtesy of MarketWatch.com] US stocks bounced back Thursday with the S&P 500 snapping its five-day losing streak after Spain officially released its 2013 budget outlining more spending cuts than tax hikes, a move seen by markets as a key development before the debt stricken country formally seeks ECB intervention. Risk sentiment was boosted further after last week’s initial jobless …
Market Indexes Dip On Europe Worries; Banks, Oil Firms Drag Europe Lower
[Chart courtesy of MarketWatch.com] Despite the housing market showing signs of improvement in September, US stocks closed mostly lower for the second straight day Tuesday on uncertainties in Europe as Spain continues to drag its feet over seeking a formal bailout from the European Central Bank despite Spanish 10-year borrowing costs edging higher in recent auctions. My view of why …
Equity ETFs Step Back As Manufacturing Disappoints; Europe Hits Gridlock
[Chart courtesy of MarketWatch.com] Equity ETFs took a breather to close lower Monday as last week’s Fed stimulus-driven euphoria faded after a disappointing New York area manufacturing data forced investors to mull over the health of the economy. Maybe some of the realization is sinking in that all is not well as markets have chosen to ignore economic fundamentals by …
Uneven Data Keeps Major Indexes Range Bound; Will QE-3 Happen In September?
[Chart courtesy of MarketWatch.com] US stocks remained near flat Wednesday while the blue-chip stocks closed slightly lower as investors weighed mixed economic data amid diminished hopes for further monetary expansion measures from the US Fed. The Dow Jones closed lower while the S&P 500 and the NASDAQ Composite managed to hang on to marginal gains even though volumes continue to …
Draghi Drags Down Major Indexes—Confirms He Is ‘All Hat And No Cattle;’ KWT Rallies, UNG Slips
[Chart courtesy of MarketWatch.com] US major indexes extended their losing streak for the fourth straight day Thursday after the European Central Bank failed to deliver on its earlier pledge to halt a further decline of the ongoing sovereign debt crisis. ECB president Draghi, who last week single handedly ignited a rally in equities with talk of upcoming bazooka like actions, …