Sure I ripped-off that moniker from others but I liked it.
Basically she walked the line giving hawks and doves something to chew on.
Frankly, in other words Jackson Hole was a non-event.
Mario Draghi chimed in to say he had many unconventional tools he was ready (again) to deploy but admitted they could not cure unemployment.
(Hmm, so what are they good for then? Oh, right the bankers! How could I forget…)
Stock markets overall were unimpressed by much Friday. After all it is Friday with only two weeks left before Labor Day. What bulls are around have done their work and now they can retire to the Hamptons for some fun and games.
Leading market sectors higher included: Tech (QQQ), Biotech (IBB), Retail (XRT), Taiwan (EWT), China (FXI) and Bonds (TLT).
Leading market sectors lower included: Energy (XLE), REITs (IYR), Materials (XLB), Silver Miners (SLV), Japan (EWJ), Australia (EWA), Brazil (EWZ), Russia (RSX), Germany (EWG), Eurozone (EZU), Coal (KOL), Agriculture Producers (MOO), Crude Oil (USO), Natural Gas (UNG) and Sugar (SGG).
The top 20 market movers by percentage change in volume whether rising or falling is available daily.
Volume was decent but the action overall was mixed per the WSJ.
An end of summer market may just churn around for the next couple of weeks. But, of course there are always geopolitical events that can get in the way of a lazy summer day. Its obvious Putin is getting ready to not let his proxy army in Ukraine fail. The U.S. and its allies won’t do anything about it. Then there’s ISIS and that should send a chill down everyone’s spine.
This is a short post because there isn’t that much to discuss. Perhaps next week will give us more to discuss.
Let’s see what happens.
Dave Fry is founder and publisher of ETF Digest and has been covering U.S. and global ETFs since 2001.
He is the author of "Create Your own ETF Hedge Fund: A Do-It-Yourself Strategy for Private Wealth Management" published by Wiley Finance and "The Best ETFs: U.S. Equities, A Companion Guide to Building Your ETF Portfolio".
Disclaimer: The charts and comments are only the author's view of market activity and aren't recommendations to buy or sell only any security. Market sectors and related ETF's are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotation's aren't predictive of any future market action rather they only demonstrate the author's opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com
|WTI Crude Futr||93.37||-0.59||-0.63 %||17:15|
|US Dollar||82.38||0.17||0.20 %||16:59|
|Brazil||2518.025||-2.10 %||3.60 %||13.52 %|
|Russia||684.358||-0.74 %||3.87 %||-13.03 %|
|India||507.564||0.42 %||2.31 %||24.61 %|
|China||66.980||0.58 %||1.47 %||6.14 %|