THE GIST (“THE WHAT”) Oscillating around the 4400 level, the S&P 500 index traded sideways within a tight range as investors keenly look forward to the start of the second quarter earnings season and crucial inflation data releases this week to gauge the Fed’s interest rate path. The index managed to eke out moderate gains (more…)
THE GIST (“THE WHAT”) Extending previous session’s decline, the S&P 500 index fell at the open following stronger-than-expected U.S. employment report and ISM services data that reinforced the hawkish Fed outlook of an aggressive monetary policy. Finding support at the day’s low of 4385.05, the index however bounced back to claw back some of the (more…)
THE GIST (“THE WHAT”) The S&P 500 index closed the muted session modestly lower at 4446.81, down 8.77 points (-0.20%). Hawkish FOMC meeting minutes pushed yields higher and stocks lower. Weaker-than-expected economic data out of U.S. and China further dampened market sentiment ahead of key economic data releases this week. Note: Our daily “S&P 500 Trading (more…)
THE GIST (“THE WHAT”) Struggling for direction and trading mostly sideways ahead of the key economic data this week, the S&P 500 index closed today’s choppy session mostly unchanged at 4376.85, down 1.55 points (-0.04%). Defensive utilities were the biggest laggard amid expectations of rising interest rates following hawkish comments by Fed Chair Powell. Note: Our (more…)
THE GIST (“THE WHAT”) Trading sideways for most part of the morning session, the S&P 500 index broke higher after a bag of strong economic data raised the odds of a soft landing and boosted investors’ risk appetite despite a hawkish Fed. Closing Thursday’s gap, the index closed near the day’s highs at 4378.40, up (more…)
THE GIST (“THE WHAT”) Increasing odds of further rate hikes, coupled with recessionary jitters pushed the S&P 500 index lower to end its five-week winning streak. All eleven sectors within the broader index traded lower, led by real estate and technology stocks. The index closed the session at 4348.32, down 33.56 points (-0.77%). Note: Our daily (more…)
THE GIST (“THE WHAT”) Opening lower, the S&P 500 index managed to erase the day’s losses on the back of a rally in mega-cap tech stocks to close modestly higher. The index snapped its three-days losing streak to close the choppy session near day’s highs at 4381.89, up 16.20 points (0.37%). Note: Our daily “S&P 500 (more…)
THE GIST (“THE WHAT”) The S&P 500 index opened the holiday-shortened week on a bearish note ahead of Fed Chair Jerome Powell’s testimony tomorrow, giving back some of the last week’s sustained gains that pushed the index to a 14-month high. The index, however, clawed back most of the early session’s losses to close modestly (more…)
THE GIST (“THE WHAT”) The S&P 500 index broke its six-day winning streak to close modestly lower by 16.25 points (0.37%) at 4409.60. The index, however, registered its longest winning streak of five straight weeks since November 2021 as markets cheered the Fed’s decision to pause its aggressive monetary tightening cycle following signs of slowing (more…)
THE GIST (“THE WHAT”) The S&P 500 index extended gains for the sixth session in a row despite the hawkish Fed as yields slipped after May’s unemployment data showed signs of weakness, increasing the odds of an end in Fed’s monetary tightening cycle. The index notched a 14-month high, closing sharply higher by 53.27 points (more…)
