THE GIST (“THE WHAT”) Gapping lower at the open following last two day’s intense sell-off, the S&P 500 index extended losses amid growing prospects of interest rates staying higher for longer. The sell-off gained momentum in the final hour of the session as the index gave up its 100 DMA and closed near day’s lows (more…)
THE GIST (“THE WHAT”) Trading lower during the first half of the session, the S&P 500 index reversed most of the day’s losses in the afternoon session to close modestly lower ahead of the highly anticipated Fed policy meeting tomorrow. Energy stocks were the biggest drag on the broader index as oil prices pulled back (more…)
THE GIST (“THE WHAT”) The S&P 500 index wavered sideways following a mixed CPI report that solidified expectations of a Fed rate pause in its next policy meeting. All eyes will now turn their focus towards U.S. PPI data release tomorrow looking for further clarity on the inflation outlook. Trading mostly within yesterday’s price range, (more…)
THE GIST (“THE WHAT”) The S&P 500 remains range bound as investors await key inflation data ahead of the Fed’s highly anticipated rate-setting meeting next week. Attempting to recover from early session losses, the index pulled back sharply in the afternoon session to close modestly lower at 4461.91, down 25.56 points (-0.57%) over the previous (more…)
THE GIST (“THE WHAT”) Weakness in technology stocks weighed down on the broader S&P 500 index for the third session in a row as investors remain nervous about the prospects of the Fed keeping interest rates higher for longer. Gains in defensive sectors like utilities, health and real estate helped limit the day’s losses. Opening (more…)
THE GIST (“THE WHAT”) The S&P 500 index extended losses following the release of stronger-than-expected economic data that indicated that while the economy is cooling down, inflation continues to remain sticky. Technology stocks were the biggest drag on the index as yields rose amid concerns that the Fed could keep rates higher for longer in (more…)
THE GIST (“THE WHAT”) Posting a two-and-a-half week high, the S&P 500 index extended its recent gains, rallying sharply after weaker-than-expected economic releases bolstered the odds for the Fed to pause its rake hike campaign. All sectors traded higher, with mega-cap technology stocks leading the broader index higher as yields fell across the board. Note: Our (more…)
THE GIST (“THE WHAT”) Building on Friday’s gains, the S&P 500 index closed today’s choppy session with a modest gain of 27.60 points at 4433.31, up 0.63% over the previous session. As yields edged lower following Fed Chair Jerome Powell’s cautious but hawkish comments, all sectors except Utilities traded higher. Technology and communication services sectors (more…)
THE GIST (“THE WHAT”) In its best day since June, the S&P 500 index rallied as interest-sensitive technology and real-estate stocks traded higher alongside falling treasury yields. Mixed bag of economic data pushed yields lower, benefiting growth stocks. Opening higher, the index held on to gains for most part of the session, closing near day’s (more…)
THE GIST (“THE WHAT”) Rebound in technology stocks lifted the broader market. The S&P 500 index fell during the early hours as treasury yields hit a 16-year high ahead of the keenly awaited Federal Reserve meeting on Friday at Jackson Hole, Wyoming. But grinding higher during the afternoon session alongside a rally in chip stocks, (more…)
