5/13/2021 11:19:50 AM GMT
CPI spikes higher than expected, Some investors run for the exits.
We get PPI today – What will that reveal?
Lonnie Musk causes confusion in Bitcoin sending it reeling down 15%.
And that takes all of the other crypto’s with it…
Oil falls as the Colonial Pipeline comes back on line – shortages remain.
Markets are angry – Try the Arrabiatta Sauce.
So, by now you heard – Stocks fell hard yesterday and appear to be falling again this morning…. while Lonnie Musk announces that Tesla will no longer be taking Bitcoin as payment for his cars – citing environmental concerns over how Bitcoin is mined and supported….and after that announcement Bitcoin lost 15% of its value – expect more people to opine on this development……
Markets go where they go. The news is just rationalization.
As Elliott Wave International has noted many times, the mainstream financial press always tries to find a reason for a given trading day s stock market action.
In other words, if stocks happen to be up for the day, many financial journalists will say it was because of this or that positive news. If stocks happen to be down for the day, you got it, these journalists will ignore the positive news and search for something negative that happened in the country or world and say
that was the reason stocks went down.
Were The Market Reversals On The Jobs Data Significant ? forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
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NEW YORK/LONDON (Reuters) -Commodity prices jumped, the dollar slid to a two-month low and major global equity indexes scaled record peaks on Friday after weak U.S. jobs data for April tamped down fears that a booming economy would spark inflation and higher interest rates.
The data eased worries the Federal Reserve would reduce its massive stimulus program anytime soon and was seen as helping President Joe Biden push through his plans for trillions of dollars in new spending on infrastructure and education.
The yield on the benchmark 10-year U.S. Treasury note slid to a two-month low of 1.469% before rebounding. Gold posted its biggest weekly gain - about 3.5% - since early November and copper shot to a new high, past a record set a decade ago.
Thursday s Close Shave, Troubling New Highs and Lows, Peloton Kicks Into Gear The market came within whiskers of a technical breakdown on Thursday, yet few people seem to know or care.
May 07, 2021 | 07:28 AM EDT
The timing of that late surge of demand across financial markets on Thursday was absolutely extraordinary. In this very column, 24 hours ago, I touched on the fact that the Nasdaq Composite had been put in the position of defending its own 50 day SMA (simple moving average) for a couple days. I went on to illustrate how Cathie Wood s ARK Innovation ETF (ARKK) had similarly spent days feeling around for support at the fund s 200-day SMA. All of this was ahead of Friday morning s expected release of April data for job creation and the entire employment situation.