Post-payroll enthusiasm is fading fast as chaos returns to the Trump administration
U.S. equities are testing into the red as I write this on
Tuesday, rolling over as the post-payroll enthusiasm fades and fears regarding
Federal Reserve interest rates hikes and chaos in President Donald Trump’s
administration returns.
The Dow Jones Industrial Average is stalling out once more
near its 50-day moving average; setting up a possible test of its 200-day
moving average and the February lows in the days and weeks ahead. Not only is
the Fed decision looming, but Washington needs to iron out another budget deal
before the end of the month.
With the Dow Industrials struggling, it’s worth noting that
both the Dow Jones Utility Average and the Dow Jones Transportation Average are
struggling as well. That sets up a possible “Dow Theory” warning signal that
could spell trouble for the broad market.
Here are five key Dow stocks that are showing weakness:
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