Stocks Lower On Threat Of Government Shutdown

Hello Traders everywhere. Once again the threat of a U.S. Government shutdown is pushing stocks lower. At a rally in Phoenix, AZ last night President Donald Trump said, "If we have to close down our government, we're building that wall."

MarketClub's Mid-day Market Report

Wall Street also has its sights set on Jackson Hole, Wyoming this week, where a coalition of central bankers are meeting for the Federal Reserve's annual Economic Policy Symposium.

Both Fed Chair Janet Yellen and European Central Bank President Mario Draghi are set to speak on Friday. Yellen will likely discuss weak inflation and the Fed's plan to rein in its balance sheet. Strategists doubt that the Fed will initiate any significant policy changes or increase rates with the personal consumption expenditures (PCE) price index making slow gains over the past few months.

Key levels to watch next week: Continue reading "Stocks Lower On Threat Of Government Shutdown"

Stocks Turn On Bannon's Exit

Hello Traders everywhere. The stock market was trading and trending lower for the day to close at a four-day low when all of the sudden it reversed course. The cause for the reverse, news that White House strategist Steve Bannon was dismissed from his duties by President Donald Trump.

I can't recall such a clear and distinct turnaround caused by news from the White House like today; it sure came out of nowhere.

MarketClub's Mid-day Market Report

Oil prices jumped higher Friday as the stock market strengthened and the U.S. dollar weakened. However, crude oil futures remain on track to close the week down as traders are still worried about the global oil glut.

Key levels to watch next week: Continue reading "Stocks Turn On Bannon's Exit"