ses among continuing worries over the war in Ukraine and the Fed’s response to inflation . Chinese stocks moved lower on disappointing economic data and COVID outbreaks.
Stocks pulled back after yesterday’s rally as investors awaited any breakthroughs in the Russia-Ukraine negotiations.
More yield curve inversion in bond markets raised eyebrows while a drop in oil prices helped equities rally.
The Nasdaq had its best week since November 2020, rallying more than 10% from Monday’s low to close with a +8.18% gain.
Original Chart Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. Thursday, March 17, 2022 Facts: +1.33%, Volume lower, Closing Range:…Continue Reading …
new surprises today, but the initial reaction caused a dip in indexes that reversed into a late after rally higher. Chinese stocks took off after the government pledged to support the stock market and not penalize companies with foreign listings.
Oil prices dropped below 99. 01 and the Producer Price Index indicated some relief on inflation , giving some assurance to investors that the Fed might not get too hawkish with interest rate hikes. That helped markets bounce to the upside on Tuesday.
Investors continued to move out of equities as the war continues in Ukraine and the Fed heads toward its first rate hike since the start of the pandemic.
Markets ended a choppy week with another losing session. Growth sectors sold off the most as investors moved to safer assets for the weekend.
A brief update for today due to time constraints. Inflation data continues to surprise higher than forecast, giving more reason for the Fed to take action with higher interest rates.