RoboStreet – May 31, 2018 Trade Tariffs and Italian Bond Turbulence Stymie Rally This morning President Trump made good on his promise to impose tariffs on steel and aluminum if there was no progress on fair trade talks with Europe, Canada and Mexico. The Trump administration ratcheted up the brinkmanship Thursday by announcing new duties […]
After trading sharply lower yesterday, with the Dow down 400, U.S. assets look to recover today. Worries over the Italian election had both European and U.S. markets down as anti-establishment fears could spell hard times for the euro. This came on top of last week’s major news that the North Korean summit was not going […]
RoboStreet May 24, 2018 No Go on North Korea Summit Stymies Rally Attempt The week leading up to the extended Memorial Day holiday weekend is typically upbeat for stocks. More confusion about the deal or no-deal with China and the possible delay of the North Korean summit hit stocks on Wednesday, but buyers stepped in […]
Reignited geopolitical concerns have U.S. assets and major markets down today, along with most European and Asian markets, as trade worries resurface and erase much of Monday’s optimism and gains. Bulls want the market to stay above 2700, otherwise, next support is at 50-day SMA 2670. Sell into the rallies and monitor my Season Charts […]
Markets are on the rise today as U.S.-China tension seemed to significantly ease in light of this weekend’s trade negotiations. With tariffs on hold and China agreeing to buy a substantial amount of U.S. goods to narrow the trade deficit, major indices rallied with a few hitting monthly highs. I recommend selling into the rallies. […]
RoboStreet – May 17, 2018 Stocks Face Stiff Headwind from Rising Bond Yields While stocks have made a nice comeback from a crucial technical test of the 200-day moving average, there are some clouds forming on the horizon I see as potential obstacles in the way of a rally above prior highs. A lot of […]
The eight-session streak the Dow rode into Tuesday quickly evaporated, along with the rest of its 2018 gains, when the blue-chip suffered triple-digit losses yesterday. Other indices and commodities didn’t fare much better, all but the dollar took losses for the day. Gold and bonds might’ve been hit the worst as gold saw its worst […]
Indices continue on the march higher as investors put trade war concerns in the rearview with earnings season winding down. The Dow is aiming for its 8th straight advance, a first since last year and an impressive feat nonetheless, while the S&P and Nasdaq look to be adding to their gains from last week. President […]
RoboStreet – May 10, 2018 Stocks, Oil Prices, Dollar, Bond Yields Rise in Tandem Animal spirits returned to Wall Street Wednesday after equities made a strong move higher, with the S&P 500 and the Nasdaq climbing 1.0% apiece, and the Dow advancing 0.8%. Investors continued to digest President Trump’s Tuesday decision to withdraw the U.S. […]
The Iran nuclear deal looks to be done. We didn’t have to wait until the end-of-the-week deadline to get a decision from President Trump. Pulling out of the deal will mean resumed sanctions on Iran while inevitably affecting oil and possibly setting off some further geopolitical reactions. While some American allies, and fellow Iran deal […]
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