While the Dow Jones Industrial Average (DJIA) took a breather on Tuesday, falling .3%, the Nasdaq (NDX) rose by .25% and apparently nobody showed up for the S&P 500 (SPX) or its closely correlated Select Sector Spiders ETF (SPY) With the S&P 500 finishing almost exactly flat on the day, SPY had its lowest trading…
It’s not for a lack of effort, but the S&P 500 has only been up on 1 of the 9 FOMC days during Powell’s rein over the Committee. Initially, and traditionally some might say, the market responded positively to the sharply dovish move announced by the FOMC on Wednesday…then it completely reversed course and the…
After 5 consecutive days of declining markets, the major averages fought back with the strongest breadth since January 4th. The Nasdaq (NDX) led the indices with a 2% rally and the S&P 500 (SPX) followed with a rally of nearly 1.5 percent. The Dow Jones Industrial Average (DJIA) lagged its peers with a .79% rally,…
Leading up to the Friday trading session, the markets appeared to be expressing exhaustion and have been with overbought conditions for the better part of the last 10 trading sessions. Nonetheless, the YTD rally carried forward on Friday. (Table from Bespoke Investment Group) From Monday through Thursday, the S&P 500 (SPX) and its peer indices…
Welcome to Finom Group’s weekly State of the Market (SOTM) video. Within this week’s SOTM we dive into some of the more recent economic data releases with great detail and analysis. Please click to review the video. To direct the chronology of the video and streamline conversational points of analysis and interest, we offer the following…...
It looks like we have a deal to avoid a government shutdown, as policy makers spill out into the media forums touting such a deal. But will President Donald Trump sign the bipartisan deal? That remains the open-ended question while equity markets positively digest the political news of the day. U.S. equity futures are sharply…
Welcome to our weekend Technical Recap. Wayne takes a look at the market moves for the week as Friday’s turbulent session expressed a bit of a FOMO moment going into the closing bell. While the major averages came off of their lows around midday, they rallied mightily into the close and in earnest, it’s been…
Here we are, ready to close out the trading week and with the S&P 500 (SPX) quite literally exactly where it started the week, 2,706. Pretty unusual to find 4 trading days having been completed with a flat result, but nonetheless here we are. And with that being said thousands of options are set to…
Heading into Thursday’s market open on Wall Street we’ve got some good news and some bad news. Firstly, the bad news: U.S. equity futures are down across the board by roughly .5% in the 5:00 a.m. EST hour. Crude oil popped above $52 a barrel on Wednesday, but supply/output was higher than expected and the…
