The SkyNet StockBots battled it out in a classic trading day. The SellBots ruled the morning, sending stocks sharply lower until the BuyBots jumped into action, sending stocks higher and into the close. The DJIA gained 91 points (0.3%) and the NASDAQ ended higher by 25 points (0.3%).
Stay tuned as the battle of the SkyNet StockBots continues!
The SkyNet StockBots battled it out in a classic trading day. The SellBots ruled the morning, sending stocks sharply lower until precisely 11:45 AM EDT (“funny” how that happens) when the BuyBots jumped into action, sending stocks higher and cutting the day’s losses into the close. The DJIA lost 32 points (0.2%) and the NASDAQ ended down by 48 points (0.6%).
Stay tuned as the battle of the SkyNet StockBots continues!
After a modest rebound from October’s collapse, Durable Goods Orders were expected to slide lower once again in February but the drop (down 1.6% MoM) was slightly better than expected (down 1.8% MoM). Read More.
The SkyNet BuyBots ruled the morning session, sending US stocks sharply higher until precisely 11:00 AM EDT (“funny” how that happens) when the SellBots jumped into action, sending stocks lower and cutting the day’s gains into the close. The DJIA closed up 141 points (0.4%) and the NASDAQ gained 54 points (0.6%).
Stay tuned as the battle of the SkyNet StockBots continues!
After January’s much-heralded rebounded from December’s “well it can’t be real” plunge, retail sales were expected to continue the rebound in February (albeit at a slower pace) but they did not – disappointing gravely.
Against expectations of a 0.2% rise, headline retail sales dropped 0.2% MoM in February (exaggerated by strong upward revisions) and core retail sales (ex-auto and gas) tumbled 0.6% MoM. Read More.
Last week we reported that the yield curve on US Treasurys had inverted after the yield on the 10-year fell below the yield on 3-year bonds for the first time since 2007 – the cusp of the Great Recession. This has historically been an early-warning sign signaling a recession. Read More.
Unable to rebound from Friday’s smashing, US stocks zigged and zagged in a relatively narrow range, leading to a mixed close. The DJIA advanced 14 points (0.1%) and the NASDAQ slipped 5 points (0.1%).
Stay tuned as the battle of the SkyNet StockBots continues!
In yet another reversal of the previous day’s trading action, the SkyNet SellBots kicked in the turbocharger and applied unrelenting sell pressure all day long. Seems Fed Head Powell’s statements on Tuesday have been re-re-reevaluated and the forecast for weak economic growth is not good news after all. The DJIA plunged 460 points (1.8%) and the NASDAQ got smashed for 196 points (2.5%).
Stay tuned as the battle of the SkyNet StockBots continues!
The SkyNet BuyBots ruled the day, fueled by “reinterpretation” of Fed Head Powell’s remarks yesterday. The DJIA recovered all of yesterday’s losses and a bit more, closing higher by 217 points (0.8%) but the NASDAQ jumped 110 points (1.4%).
Stay tuned as the battle of the SkyNet StockBots continues!
The SkyNet StockBots battled it out again as US stocks zigged and zagged in the wake of Fed Head Jerome Powell’s policy announcement. The DJIA dropped 142 points (0.6%) but the NASDAQ held on to a gain of 5 points (0.1%).
Stay tuned as the battle of the SkyNet StockBots continues!
The SkyNet StockBots battled it out again in relatively quiet trading, pushing stocks into a mixed close. The DJIA dropped 27 points (0.1%) and the NASDAQ advanced 9 points (0.1%).
Stay tuned as the battle of the SkyNet StockBots continues!
After a hope-filled rebound in February, Conference Board Consumer Confidence tumbled in March with Present Situation plunging to 11-month lows. Read More.
The SkyNet StockBots battled it out again in relatively quiet trading, pushing stocks into a mixed close. The DJIA dropped 27 points (0.1%) and the NASDAQ advanced 9 points (0.1%).
Stay tuned as the battle of the SkyNet StockBots continues!
Just recently Anna-Louise Jackson published an interesting article asking if “The Financial Crisis” still haunted your investing. To wit:
“This month marks the 10-year anniversary of the current bull market’s beginnings. Yet, many Americans remain reluctant to invest in the stock market, a scary hangover from the 2007-09 recession. Read More.
The SkyNet StockBots battled it out in relatively quiet trading, pushing stocks modestly higher into the close. The DJIA gained 65 points (0.2%) and the NASDAQ tacked on 25 points (0.3%).
Stay tuned as the battle of the SkyNet StockBots continues!
On Friday, when Germany reported disastrous mfg and service PMI prints, the 10Y German Bund finally threw in the towel, with the yield sliding back under zero for the first time in three years. When that happened, and when the 3M-10Y yield curve inverted in the US right around that time, just over $400 billion in global debt changed the sign on its yield from positive to negative. Read More.
Another month, another frightening jump in the US budget deficit. And this time it was a record. According to the latest Treasury data, the US budget surplus in February – traditionally the worst month of the year due to tax refunds – was a whopping $234 billion, missing the $227 billion deficit expected, and well worse than the $214 billion deficit recorded last February. Read More.
Yesterday, when he called the Fed’s dovish reversal “unprecedented”, DoubleLine’s Jeff Gundlach pulled no punches when he said that not only is this still a bear market rally, but that the market – which feels eerily like 2007 – will again post a negative return for 2019: Read More.
The SkyNet BuyBots wrapped up the week with another strong performance, sending US stocks steadily higher all day long. The DJIA gained 139 points (0.5%), and the NASDAQ added 57 points (0.7%).
The DJIA edged higher by 7 points (0.0%) and the NASDAQ slipped 12 points (0.2%).
Stay tuned as the battle of the SkyNet StockBots continues!
After several days of heavy StockBot activity, they took the day off today. Stocks meandered about in a narrow range, closing little changed. The DJIA edged higher by 7 points (0.0%) and the NASDAQ slipped 12 points (0.2%).
Stay tuned as the battle of the SkyNet StockBots continues!
Federal Reserve Chairman Jerome Powell’s assertion this week that the U.S. economy remains strong is facing a stern test from the bond market, which showed a classic recession sign Friday morning. Read More.
London (Reuters) – German 10-year bond yields dived below zero while European shares and the euro fell on Friday after grim data from the continent fuelled fears of a global economic slowdown following this week’s dovish turn by the U.S. Federal Reserve. Read More.