Shake, rattle, and roll… and bounce. I am not sure that Bill Haley and the Comets would approve of the lyric appropriation but the equity market bulls were certainly dancing to the beat as all of the major indexes soared in yesterday’s session. The oversold conditions combined with a strong JOLTS economic release and some…
Not so fast. Stocks were unable to sustain Friday’s bounce with 3 of the major indices closing lower in yesterday’s session. The S&P500 attempted to hold on to gains but was unable to and ultimately closed down on the session. The index closed below its 200 day simple moving average after having bounced back above…
Ricochet markets. Equity markets stabilized and put in a solid session of gains on Friday after 2 difficult sessions mid week. Though the gains were welcomed, equity indices were still down on the week. Friday’s bounce was led initially by some positive earnings from big banks prior to the opening bell which soon faded not…
The heat is on! It was another tough day for… everything except gold and bonds. And that sentence should paint the big picture of fear selling. Gold has always historically been the ultimate safe haven when risk assets are under siege. More recently, gold has lost its luster as a safety trade with the emergence…
Tech wreck! Yesterday was a tough day for equities with the major indices suffering some of their greatest losses since earlier this year as the S&P500 lost 3.3%, the Dow Jones Industrial Average fell 3.1%, the Russell 2000 slipped by 2.86%, and finally the NASDAQ 100 slipped by 4.44% led by the tech sector. The…
Step forward, step back, repeat. Markets bounced about yesterday in a volatile session that ended in a mixed close for equities. The start of the session saw long maturity treasury yields continue to slide with equities opening soft. The situation quickly reversed itself as the treasuries stabilized themselves receding 10 year yields from their morning…
Jitters. Markets had a volatile session yesterday as last week’s drivers persisted. The Chinese central banks cutting rates this weekend, rising Italian bond yields, and last week’s surge in interest rates caused the markets to spend much of the session in the red yesterday and a late session rally managed to make a bad session…
Push pause. Equity markets ended last week in the red capping off a difficult week for the bulls. Stocks were still reeling from the rapid decline in Treasuries when Friday’s employment situation number came out and caused further selling. Newly created jobs missed expectations, the unemployment rate was lower than expected, and wage growth came…
Reality check! Equities traded off sharply yesterday in response to rising yields and renewed trade fears. Reports of Chinese manufacturing companies embedding chips capable of spying on US companies into their products caused many to fear that a trade war with China could only get worse, if not cause it to last longer. The reports…
Rate fate! Equities muscled ahead yesterday with the Dow making new highs once again. Continued good feelings from last weekend’s trade progress with the USMCA (US Mexico Canada Agreement), an upbeat jobs number, and dovish Fed-speak are credited with the equity buying. All of the major indices were up but all closed well off their…
