No Tariffs, No Worries

No tariffs no worries.  Stocks rallied on hopes of a trade resolution yesterday with the Dow, S&P, and NASDAQ clocking in some impressive gains.  The session started off with some weaker than expected inflation data in the Consumer Price Index, which showed a monthly gain of +0.2%  and yearly gain of +2.7%, both 0.1% lower…

Zig Zag

Zig Zag – went the markets yesterday as they appeared to find and lose their way several times throughout the session.  The day started out with some encouraging news in a benign, lower than expected Producer Price Index.  Good enough for a positive but muted open.  The Dow dipped into the red by 10:30 and…

Let the music play

Let the music play.  Markets shrugged off the trade fears of prior sessions yesterday with all the major indices ending in positive territory.  In contrast Asian markets did not fair so well with Chinese equities closing in bear market territory.  Yesterday’s domestic move was helped along by small business optimism as reported here early in…

Afraid of Trade

Afraid of Trade… still.  Trade issues dampened equity trade once again yesterday, although not to the same extreme as in prior weeks.  The S&P 500, with little in the way of stimulus, managed to trade up on the session, though it closed just above its lows.  Although it represents a small gain, it was welcomed…

Trade Fade.

Trade fade.  Last week’s chaotic week of trade was capped off by an upbeat employment number, though any hopes of rally were quickly dashed by President Trump who said that additional trade sanctions on China may be needed.  So the fear trade crept back into the markets last week, albeit with less punch than previously….

Crazy Train!

Crazy Train!  Yesterday’s trading day was not quite as off-the-rails wild as Ozzy Osborne’s crazy train, but it was nonetheless quite a ride for some, especially if you were a technology stock.  Technology continued its selloff yesterday pulling the tech-heavy NASDAQ down -0.9%.  Though it closed well off its lows of the session, the index…

Schooled.

Schooled.  The first bell of the school year rang yesterday for many across the US marking an end to the summer holiday.  Similarly momentum along with emerging market stocks were woken up by alarms yesterday as they hit a soft patch.  Yesterday’s session began with many traders awaiting tech giants Facebook and Twitter testifying on…

Temperature rising!

Temperature rising!  The temperature is not the only thing rising as domestic manufacturing picked up adding to the already sizzling US economy.  This according to the ISM manufacturing PMI that was released yesterday.  The index came in at 61.3 up from last month’s 58.1, with economists expecting 57.6.  What does that all mean?  Well for…

Beat the Heat!

Beat the heat!  Traders, perhaps bogged down by late Summer heat (or beach traffic), were unable to prop up markets on the the last trading day of August.  Stocks started Friday’s session still reeling from the Thursday Presidential pronouncement of more tariffs on China.  In fact, that was just one of several negative trade factors…