[Chart courtesy of MarketWatch.com] Moving the Markets You could consider this a “non-day” as the major indexes vacillated predominantly above their unchanged lines but ended up as close to zero losses as you can get. Fallout from Friday’s disclosure by the FBI about resuming the probe into Hillary’s use of an unauthorized email system shifted into high gear and caused …
ETF Tracker Newsletter For October 28, 2016
ETF Tracker StatSheet ————————————————————- https://theetfbully.com/2016/10/weekly-statsheet-for-the-etf-tracker-newsletter-updated-through-10272016/ ———————————————————— Market Commentary FBI Announcement Kills Market Rebound [Chart courtesy of MarketWatch.com] Moving the Markets The surprise came out of left field, as the markets were enjoying a modest rebound, in form of an FBI announcement that it will investigate new emails related to the Democratic nominee Hillary Clinton. That’s all it took and the …
Equities Dip As Interest Rates Spike
[Chart courtesy of MarketWatch.com] Moving the Markets Finally, at least for one day, stocks and bonds were correlated again, something we have not seen in a while, and this may be a harbinger of things to come. Bond prices dropped as yields rose and stocks headed south early on, recovered mid-day, but the rally faded into the close leaving the …
Oil Leads Equities With Pump-And-Dump Theme
[Chart courtesy of MarketWatch.com] Moving the Markets Equities started the day on a weak note when oil prices suddenly got pumped to touch the $50/barrel point before being dumped and ending the day down -1.62%. The S&P 500 followed suit but managed to limit its losses to a meager -0.17%. Apple weighed on the overall market and closed down -2.25% …
Earnings Data Wipe Out Yesterday’s Gains
[Chart courtesy of MarketWatch.com] Moving the Markets After a weak opening, the S&P 500 managed to kiss the unchanged line, but it was all downhill from there as stocks slipped from their 2-week highs made yesterday. Not helping matters was the dying Consumer Confidence bounce with the indicator sporting its biggest plunge in 11 months. The US dollar continued its …
Earnings And Acquisitions Support The Indexes
[Chart courtesy of MarketWatch.com] Moving the Markets The S&P touched a two-week high as acquisitions and mergers confirmed to some that, despite hugely elevated market levels, untapped value still exists, although that is clearly in the eye of the beholder. Expected annualized earnings are supposed to have been risen 1.1% last quarter, which is an improvement after four quarters of …