Daily Report | 5 September 2023
With the US stock markets closed due to the Labor Day holiday, investors around the world are looking for direction by taking note of what’s happening in Asia & Europe.
Weekly Report | 4 September 2023
A number of US employment data were the focus of attention for market participants last week. The Job Openings & Labor Turnover Survey (JOLTs) which measures labor demand, came in at 8.8 million in July, below expectations of 9.46 million.
The Dow and Nasdaq Rose 1.4% and 3.2% Respectively Last Week
The Dow and Nasdaq rose 1.4% and 3.2% respectively last week, posting their strongest weekly performance since July. The S&P 500 rose 2.5% for its best week since June after an increase in the Unemployment Rate to 3.8% (from 3.5%) in July, strengthened expectations of a pause in Fed Fund Rate hikes this month, while streaming company stocks plummeted due to a rate dispute between Disney and Charter Communications.
Daily Report | 4 September 2023
The Dow and Nasdaq rose 1.4% and 3.2% respectively last week, posting their strongest weekly performance since July. The S&P 500 rose 2.5% for its best week since June after an increase in the Unemployment Rate to 3.8% (from 3.5%) in July, strengthened expectations of a pause in Fed Fund Rate hikes this month, while streaming company stocks plummeted due to a rate dispute between Disney and Charter Communications.
The Personal Consumption Expenditures (PCE) Price Index Climbed 3.3% Yoy in July
The Personal Consumption Expenditures (PCE) price index, considered the Federal Reserve’s preferred inflation gauge, climbed 3.3% yoy in July, in line with expectations.
Daily Report | 1 September 2023
BUS stock markets closed mixed on Thursday (31/08/23), closing August with a total monthly decline of 1.8% for the S&P500, 2.4% for the Dow, and 2.2% for the Nasdaq.
All Three Major US Indexes Ended in Positive Territory
All three major US indexes ended in positive territory, after the recent release of lackluster employment data signaled a cooling US economy, reinforcing expectations the Federal Reserve will pause rate hikes in September.
Daily Report | 31 August 2023
All three major US indexes ended in positive territory, after the recent release of lackluster employment data signaled a cooling US economy, reinforcing expectations the Federal Reserve will pause rate hikes in September.
Wall Street Ended Sharply Higher
Wall Street ended sharply higher on Tuesday (29/08/23) lifted by Tesla, Nvidia, and other megacap growth stocks after a drop in monthly job openings that fell below expectations cemented expectations of a pause in interest rate hikes by the Federal Reserve.
