[Chart courtesy of MarketWatch.com] Moving the Markets The widely anticipated FOMC minutes turned out as expected with the Fed confirming that they plan on continuing their path of higher interest rates this year and also start to sell off its massive holdings of Treasuries and mortgage bonds. The thing they did not say is the timing and magnitude of their …
Broad Weakness Can’t Stop Nasdaq From Setting New Record
[Chart courtesy of MarketWatch.com] Moving the Markets It was a nip and tuck kind of day with a rise in bond yields keeping any equity advances in check as hope prevailed that its impact on stocks would be ephemeral. The yield on the 10-year bond rose 2 basis points to 2.26% after having declined from a recent high of 2.39% …
ETF Tracker Newsletter For July 21, 2017
ETF Tracker StatSheet https://theetfbully.com/2017/07/weekly-statsheet-etf-tracker-newsletter-updated-07202017/ LOWER ON THE DAY BUT HIGHER ON THE WEEK [Chart courtesy of MarketWatch.com] Moving the Markets The major indexes, especially the Nasdaq, made a valiant effort to dig themselves out of an early hole in an attempt to conquer the unchanged line in order to keep the 10 day winning streak alive. Traders were “stunned” when …
Nasdaq Continues Ascent Into Record Territory
[Chart courtesy of MarketWatch.com] Moving the Markets The major indexes limped around their respective unchanged lines all day with only the Nasdaq crawling above it and in the process setting another record close (10 up days in a row). Another soft economic data point disappointed as the Philly Fed survey missed expectations and slumped to its lowest point since November …
Netflix Pushes Nasdaq To Record Highs
[Chart courtesy of MarketWatch.com] Moving the Markets The major indexes spent most of the day below unchanged line. However, thanks to the upward bias in part caused by Netflix reaching nosebleed territory with a P/E ratio of 197, higher than Amazon’s 190, the Nasdaq set another record. Netflix surged over 13% thanks to a surprise jump in international subscriber numbers. …
Volatility Spike Kills Equities
[Chart courtesy of MarketWatch.com] Moving the Markets If you viewed Wednesday’s market ramp with the benefit of hindsight by looking at today’s losing session, it would appear that yesterday was a blow-off top; or so it seems. There was nothing positive surrounding equities, which ended up down for the day but, considering that the VIX at the lows had jumped …