Tech slide continues casting doubt on “buy on the dip” strength

Tech slide continues casting doubt on “buy on the dip” strength

Anyone who bought technology stocks on the dip last Friday and Monday is feeling unhappy today. And that spells a worried market. Especially since key stocks in the sector such as Apple (AAPL) and Amazon (AMZN) are showing signs of breaking through important support. The NASDAQ Composite Index is off 0.93% today as of 12:30 p.m. New York time.

Federal Reserve raises interest rates as expected; talks of reducing balance sheet starting by end of 2017

Federal Reserve raises interest rates as expected; talks of reducing balance sheet starting by end of 2017

No surprises on interest rates. A mild surprise on reducing the Federal Reserve’s balance sheet. As expected–the Fed Funds Futures market was giving odds of 99.6% that there would be a 25 basis point interest rate increase–the Federal Reserve raised interest rates for the second time in 2017 and for the third time in six months. The 25 basis point increase took the federal funds rate to 1.00% to 1.25%.

Sector Monday: A new phase for investing in water

Sector Monday: A new phase for investing in water

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Federal Reserve raises interest rates as expected; talks of reducing balance sheet starting by end of 2017

Market slips into neutral ahead of Fed interest rate decision tomorrow

Unless you’ve been hiding under a rock, you know that the Federal Reserve is set to announce a decision on interest rates after tomorrow’s meeting of its Open Market Committee.  And you also know that the Fed is widely expected to raise its benchmark interest rate by 25 basis points to a range of 1.00% to 1.25%. How widely exactly? Well, the Fed Funds Futures market has priced in a 99.6% chance of an interest rate increase on June 14.

Tech stocks down again but not a replay of Friday rout

Tech stocks down again but not a replay of Friday rout

The market is more anxious today but it doesn’t seem anywhere near panic country. The CBOE S&P 500 Volatility Index (VIX), was up another 10% today (10.75% as of 1:30 to be exact) on top of a greater than 10% gain on Friday, but that’s a relatively restrained move considering that what is known as the “fear” index has been trading near record lows and that this index can tack on moves of 30% to 40% in a day when investors get really fearful.