Market Update: Futures are higher ahead of Tuesday’s open as investors digest Monday’s strong rally. Janet Yellen will testify to Congress on Tuesday and Wednesday and the Brexit vote is Thursday. Gary’s Thoughts: Smaller gap to upside this morning. We hear it is all bout the Brexit. A poll of 50 people says… We have no…
Stocks opened higher on Monday after the latest Brexit poll came out over the weekend and hinted they will stay. But sellers showed up by the close and stocks ended well off their highs. The British Pound (FXB) gapped up on the news. JD.Com ($JD) rallied after Wal-Mart ($WMT) said it would sell its online business to…
We had a report all ready for you on what we call the “big bowl of slop” market as we have seen a decent amount of deterioration recently. But after getting past being held hostage by Mrs Bubble, next up was the Brexit. Markets have teased the upside and downside depending on which way the…
On Thursday, stocks opened lower but closed near their highs after several major global central banks concluded their latest meetings. The Bank of Japan (BOJ), Bank of England (BOE) and The Swiss National Bank (SNB) did not announce any changes to monetary policy and that spooked investors and sparked a rally into so-called “safe-heaven” asset classes….
Market Update: Futures are lower ahead of Thursday’s open as markets digest the Fed meeting and another round of Central Bank meetings. Gary’s Thoughts: On or about 5/18, many fedheads were out just about guaranteeing a fed rate hike in June. That caused the dollar to spike higher and gold to break below support. In a…
Stocks opened higher on Wednesday but turned lower after the Fed meeting and press conference. The Fed held rates steady and turned more “dovish” as they reduced the likelihood of more rate hikes in the future. Economic data was mixed. The producer price index (PPI) rose by 0.4% in May, beating estimates for 0.3%. Industrial production fell to…
Market Update: Futures are higher ahead of Wednesday’s open as markets wait for the Fed this afternoon. On Tuesday, we saw the yield on the German 10-year bund drop into negative territory for the first time in history! That can’t be healthy in the long-run. Gary’s Thoughts: Today we get Mrs Bubble telling us blah blah blah…is,…
Stocks fell on Tuesday as the Fed began their two-day meeting and government bond yields continued to fall across the globe. Before Tuesday’s open, the German 10-year bund yield slid into negative territory for the first time in history. Would you lend money to Germany for 10 years and pay them? The world of negative interest rates…
Stocks fell on Monday, adding to Friday’s losses as the market continues pulling back after encountering (and failing) near stubborn resistance last week. The S&P 500 continues pulling back into its 50 day moving average. In tech news, Microsoft (MSFT) fell over 2% after the tech-giant said it would buy online networking giant LinkedIn (LNKD) for $26.2…
Market Update: Futures are lower ahead of Tuesday’s open as investors digest the recent decline on Wall Street. Later this week the Bank of Japan and the US Fed will conclude their latest meetings. Gary’s Take: We continue to watch this race to the bottom on interest rates. Keep in mind, it is no longer…
