Monday’s Market Minute: Earnings Season Kicks Off Again
Let’s take a market minute to get ahead of this week.
After the Jobs Report, Investors are Looking at The Fed for Tapering Signals
Investors were in wait-and-see mode before the Employment Situation Report and then the volatility hit. Non-farm job growth was expected to be around 500,000 but the number was only 194,000. This shows how difficult predicting job growth has been during the pandemic.
Jim Cramer Identifies ‘Major Reason To Buy Bitcoin’
Bitcoin (CRYPTO: BTC) is surging to new five-month highs Wednesday and Jim Cramer believes a buy signal was flashed when Treasury Secretary Janet Yellen spoke in a televised appearance on CNBC.
Airlines Downgraded by Goldman Sachs Despite Higher Bookings
Wall Street appears to be living up to its roller coaster reputation as stock futures point to a lower open after yesterday’s rally. Inflation continues to be a concern for investors. European markets were shaken by European natural gas prices which exploded 13% overnight.
Rising Oil Prices and Yields Makes Market Navigation More Complex
Bitcoin (/BTC) topped $50,000 this morning for the first since May, but traders may be more focused on oil prices and yields. Crude oil (/CL) is continuing its rise as futures traded more than 1% higher before the market open.
Tesla and Merck Give Investors Some Hope
Friday’s rally appears to have lost its momentum over the weekend because stock futures are trading lower before Monday’s open. China’s troubled real estate developer Evergrande continues to be a drag on stocks. Hong Kong’s Hang Seng Index (HIS:HK) dropped 2% as trading on Evergrande was halted.
Merck Announcement Helps Prompt Positive Pre-Market Price Moves
The new quarter appears to be starting off on a slightly higher note as futures are pointing to a positive opening.
Closing Out the Quarter: Tech Rebounds a Bit but Supply Chain Issues Slam Bed, Bath & Beyond
With Treasury yields losing a bit of their grip and volatility edging lower, stocks have a slight green tint this final morning of the quarter. Barring one of the greatest rallies ever, September is going to be a down month.
Technology Stocks Pull Down the S&P 500, Can Other Sectors Pull It Higher?
Futures are pointing to a higher open. News and announcements were light before the open which gave investors a chance to digest Tuesday’s selloff. The selloff was orderly which may suggest that the selloff wasn’t a taper tantrum but a “normal” September slump where money managers are rearranging their portfolios for the final quarter.
Troubling Tuesday: Second Selloff in Seven Sessions Comes as Tech Gets Hit by Yield Climb
Investors probably look forward to Friday more than usual this week.
That’s because Friday is the start of a new month, ending what’s been a disappointing and ugly September that got uglier Tuesday as rising Treasury yields and a volatile situation in Washington took their collective tolls.