Market closes down exactly 20% from the highs US stock markets crumbled into the close and the S&P 500 finished down 65 points, or 2.7%, to 2351. That’s almost exactly 20% lower from the all-time high, which was set September 24.
Bid to cover 2.31x vs 2.65x last A sloppy 2 year note auction on Christmas eve: ForexLive
No threat of Christmas pink slip for Powell though He might be on the golf course this morning…. ForexLive
Worse than the Great Depression Trump mulling about firing the head of the Federal Reserve along with non-stop risk aversion has tipped the US equity market over the edge once again.
A bit of Christmas Eve data That wraps up the economic data for the day. It’s going to be quiet today and tomorrow. S&P 500 futures are down 6 points and USD/JPY is down 37 to 110.87.
The greenback stays on the back foot ForexLive The dollar is still a tad weaker on the day as markets continue to weigh up a US government shutdown, concerns about the Fed as Trump remains angered by rate hikes, and a more dovish Fed as we move into next year.
Poof, and it’s all gone ForexLive E-minis have pared all its earlier gains on the day and has now turned negative as we move closer to the cash equity market open. Sentiment remains tepid as the declines last week continues to weigh on traders/investors’ minds despite it being a holiday-stricken week.
How to navigate a path through an upcoming risk event A risk event is any market event that the market is anticipating. For example, this could be an anticipated rate statement, a speech from a central banker, or a long awaited trade deal announcement like Brexit or Nafta. There are two key ways to trade…
The greater fool theory explains almost every bubble Some things have an intrinsic value. The most-obvious example is a stock with a dividend. The absolute floor for an equity is its dividend and so long as their is a profitable business behind it, the value is a multiple of that dividend.
Fail to plan, plan to fail st. The scenario outlined occurred and price was entered on the back of positive NAFTA news. The recent NAFTA optimism has receded now, so profit should be taken on that play from yesterday now.