Weekly Report | 4 December 2023
All three major US stock indices started December on an optimistic note as they posted their fifth consecutive weekly percentage gains, and the S&P500 even managed to hit its highest point of the year.
Federal Reserve Chairman Jerome Powell Warned Against “Premature”
Federal Reserve Chairman Jerome Powell warned against “premature” bets on rate cuts as Treasury yields were pressured by growing expectations for sooner rate cuts.
Daily Report | 4 December 2023
The Dow closed higher Friday (1/12/23), as Treasury yields were pressured by growing expectations for sooner rate cuts even as Federal Reserve Chairman Jerome Powell warned against “premature” bets on rate cuts.
US10YT Managed to Climb Back Above The Yield of 4.30%
The PCE price index, which is the Fed’s favorite measure of Inflation, on a monthly basis slowed to a 0% pace in October, compared to the forecast of 0.1% and from 0.4% last month; on an annual basis it fell to 3.4% from 3.7% in the previous period.
Daily Report | 1 December 2023
The Dow Jones Industrial Average closed a strong November at its highest point since January 2022 at 35950, around 1000pts away from an All-Time-High of 36952 as investors celebrated Personal Consumption Expenditures (PCE) index data that showed Inflation had cooled as expected, along with a softening Personal Spending (Oct) report.
Daily Report | 30 November 2023
The Dow Jones closed flat on Wednesday (29/11/23), while S&P500 and NASDAQ edged down 0.1% and 0.2% respectively; however, they remained on track to post big November gains amid fresh optimism that the economy will avoid recession and ongoing optimism of Fed rate cuts of early next year.
Investors Digested Divergent Comments from Several Federal Reserve Officials
Investors digested divergent comments from several Federal Reserve officials; while economic data related to consumer behavior contributed positive sentiment.
Daily Report | 29 November 2023
The US stock market finally managed to close in positive territory after a volatile trading session on Tuesday (28/11/23), with the Nasdaq leading a mild gain of 0.29%, as investors digested divergent comments from several Federal Reserve officials; while economic data related to consumer behavior contributed positive sentiment.
US10YT is On An Undeniable Downtrend
US10YT is on an undeniable downtrend, unable to pass MA20 Resistance at a 4.512% yield and has now turned around to break below MA10 Support / 4.439% yield. ADVISE: HOLD, wait for yield bottoming first; BUY ON WEAKNESS.
