[Chart courtesy of MarketWatch.com] Moving the markets The major indexes followed through from yesterday’s advance to close higher with the Dow logging its fifth positive session, while the Nasdaq lagged slightly and fell just short of crossing its unchanged line to the upside. The markets were still influenced by the Fed’s upbeat description of a domestic economy, which has expanded …
From Feast To Famine: A Dead-Cat Bounce Dies
[Chart courtesy of MarketWatch.com] Moving the markets Follow through momentum from yesterday’s modest rebound ran into a brick wall mid-day, the bears took over and down we went with the major indexes diving decisively into the red and closing at the lowest level of June. It sure looked like an early dead-cat bounce died suddenly and selling accelerated, as sentiment …
Inching Up Ahead Of Summit
[Chart courtesy of MarketWatch.com] Moving the markets Market activity happened above the unchanged line today with the major indexes vacillating in bullish territory, where they closed, despite fading in the last few minutes. The reason for the late slip was nervousness about the highly anticipated summit between Trump and N. Korea’s Kim Jong Un scheduled for tomorrow. 8 of the …
Spiking Bond Yields Equals Sinking Equities
[Chart courtesy of MarketWatch.com] Moving the markets It all started with an April slowdown in retail sales from a revised higher (+0.8%) March number to a lame +0.3% in April indicating a lack of follow through growth. That sent equities lower right after the opening to a level at which the indexes vacillated till closing with the Dow and Transports …
Stocks Jump As Dollar Dumps
[Chart courtesy of MarketWatch.com] Moving the markets Muted inflation fears were one part of the puzzle that helped the markets score another win with the major indexes gaining across the board. First, today’s reading on April consumer prices came in at +0.1%, which was a tad below estimates. Second, the 10-year bond yield pulled back and did not close above …
Energy And Financials Propel The Indexes
[Chart courtesy of MarketWatch.com] Moving the markets You never know what motivates traders to push the markets higher. After Trump’s withdrawal from the Iran nuclear pact, and massive preceding requests by world leaders not to follow through with it, you would have expected the markets to have hissy-fit. They did, but to the upside and with help of the VIX, …