THE GIST (“THE WHAT”) Extending previous session’s gains, the S&P 500 index consolidated near 14-month highs, closing the choppy session at 4369.01, up 30.08 points (0.69%). The keenly awaited CPI data for the month of May suggested that the headline inflation rose by a less-than-estimated 4% on a year-on-year basis, primarily due to declines in (more…)
THE GIST (“THE WHAT”) As investors keenly await the key CPI data and Fed policy decision, the S&P 500 hit a 14-month high as it now enters into a new technical bull market. Gapping higher at the open, the index held on to modest gains throughout the session, closing near day’s highs at 4338.92, up (more…)
THE GIST (“THE WHAT”) Struggling for direction, the S&P 500 index closed the choppy session near its highest level since August 2022 at 4283.86, up 10.06 points (0.24%). The index settled just 10 points shy of entering a new bull market on the back of strong rally that was primarily led by a few mega-cap (more…)
THE GIST (“THE WHAT”) Extending previous session’s gains, the S&P 500 index rallied on the back of a hotter-than-expected jobs report that crushed all expectations, closing sharply higher at 4282.38, up 61.37 points (1.45%). Resolution of the debt-ceiling showdown, coupled with a surprisingly robust jobs report boosted the broader index to hit its highest level (more…)
THE GIST (“THE WHAT”) The S&P 500 index closed today’s session with moderate losses, down 25.69 points (-0.61%) at 4179.84. While the markets monitored the debt ceiling voting expecting the deal to get passed, dismal Chinese economic data and mixed U.S. economic data weighed down on sentiments. Note: Our daily “S&P 500 Trading plan” will be (more…)
THE GIST (“THE WHAT”) Oscillating around 4200 level for most part of the trading session, the S&P 500 index closed the choppy session unchanged at 4205.53, up marginally by 0.09 point as the initial euphoria over a tentative debt agreement faded amid worries of a reduction in federal spending and chances of a Fed rate (more…)
THE GIST (“THE WHAT”) The ongoing debt ceiling drama keeps the markets on the edge. Hawkish comments by Minneapolis Fed President Kashkari that interest rates could keep going higher for longer if inflation becomes more entrenched further dampened sentiment. Trading within a tight range during most part of the early trading session, the S&P 500 (more…)
THE GIST (“THE WHAT”) As the clock keeps ticking towards the June 1 ‘hard deadline’, investors closely monitor the ongoing debt talks. A failure to raise the debt ceiling could trigger the U.S. government default and could be catastrophic for the economy. The S&P 500 index closed a very choppy session mostly flat at 4192.63, (more…)
THE GIST (“THE WHAT”) Logging its best week since March, the S&P 500 index closed the session slightly lower at 4191.99, down 6.07 points (-0.41%). Opening higher, then index pulled back amid reports that the debt ceiling talks seemed stalled once again. Dovish comments by Fed Chair Powell late afternoon, however, helped cap the day’s (more…)
THE GIST (“THE WHAT”) Markets continue to closely monitor the ongoing debt ceiling negotiations as the deadline approaches near, the S&P 500 index extended Wednesday’s gains to notch its highest level since August 2022 on hopes that a deal to avoid a catastrophic default could be reached by next week. The index broke out of (more…)
