Equity markets had another down day, unable to rally above yesterday’s close, suggesting the near-term bottom is not likely in just yet. Tomorrow is the Fed meeting where Powell will take questions from the press and he will likely try to calm the markets, but must also address the inflation problem. The Fed is really […]
In our last Trend Letter, we noted that the key support level for the S&P 500 was 4200 and if it hit that level, we could expect a solid rally. Today, the S&P 500 dropped close to that 4200 level at 4222, before rallying to close the day at 4410. Watch the 4435 (first red […]
From MarketWatch… Stocks finished higher for the first time in three sessions but for some bulls the downtrend may feel longer, amid a slide characterized at times by stomach-churning swings and white-knuckle climbs higher. Investors have been on edge because the omicron-inspired jitters have resulted in some erosion of upward trend lines for the main […]
(From CNN)… Stocks dropped on Tuesday as volatility resumed after a brief rebound earlier this week, with investors contemplating the impacts of a new coronavirus variant and new comments Federal Reserve Chair Jerome Powell. The S&P 500, Dow and Nasdaq declined. The S&P 500 dropped about 88 points, or 1.90% on Tuesday. US crude oil […]
The discovery of a new coronavirus variant named Omicron triggered global alarm on Friday as countries rushed to suspend travel from southern Africa and traders are waiting to hear from health experts to determine if new government restrictions will come into play. Later in the day, the US banned all travelers from South Africa, Botswana, […]
Many of us are familiar with electrical current induction when we charge our phones on a wireless charging pad. The technology relies on the phenomena of charging a coil of wire with alternating current, producing a magnetic field. An uncharged coil of wire entering that magnetic field will induce an electric current in the uncharged […]
The S&P 500 and Nasdaq ended higher on Monday, rising for a fourth straight day to add to gains after the S&P 500’s best week since July. Investors weighed concerns over elevated inflation against hopes that more companies will follow the lead of the big banks last week and post strong quarterly earnings results. The moves […]
Concerns over rising Treasury yields and sparring among Washington lawmakers over the debt ceiling and government funding weighed heavily on equities. The Nasdaq Tech index closed out Tuesday’s regular session lower by 2.8%, posting its biggest drop since March. The S&P 500 and Dow also fell sharply. The decline in technology stocks came as Treasury […]
Stocks slid Monday, with major indices tumbling by over 2% during the worst points of the afternoon session and the S&P 500 down 123 points at one point. Investors nervously eyed the potential ripple effects of the default of a major Chinese real estate company, as well as ongoing debates over the debt limit in […]
The latest set of US economic data out Thursday painted a more upbeat than anticipated picture of the US consumer. August retail sales posted a surprise increase as consumers turned back towards goods spending amid the latest wave of the Delta variant. And while weekly new jobless claims rose in the Labor Department’s latest report, […]