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…)
THE GIST (“THE WHAT”) Rising yields and fears of contagion from China’s emerging property crisis kept sentiment low. Opening lower following reports of Chinese builder Evergrande’s bankruptcy, the S&P 500 index managed to claw back most of the day’s losses to close the session mostly flat at 4369.71, down fractionally by 0.65 point (-0.015%). Note: Our (more…)
THE GIST (“THE WHAT”) The S&P 500 index extended losses for the second session in a row, registering a five-week low after hawkish FOMC meeting minutes showed that while policymakers are united in their resolve to bring inflation to their target annual rate of 2%, they remain divided on whether to pause rate hikes (more…)
THE GIST (“THE WHAT”) The S&P 500 index broke below its 50-day moving average, a closely watched gauge of momentum, for the first time since March, led by weakness in bank stocks. Losses accelerated during the last hour of the session alongside rising yields. The index closed the session near day’s lows at 4437.85, down (more…)
THE GIST (“THE WHAT”) Strength in chip stocks lifted the broader S&P 500 index in today’s choppy trading. Gains were limited as yields jumped amid China’s looming property debt crisis. Gaining momentum during the last hour of the session, the index closed near day’s high at 4489.72, up 25.67 points (0.58%). Note: Our daily “S&P 500 (more…)
THE GIST (“THE WHAT”) July’s benign CPI report raised the odds of Fed’s rate pause, boosting the S&P index during the opening hour. Initial rally, however, faded as bond yields moved higher following hawkish comments by San Francisco Fed President Daly. The index closed the volatile session with a fractional gain of 1.14 points (0.03%) (more…)
THE GIST (“THE WHAT”) Interest rate sensitive mega-cap stocks were sold-off ahead of crucial inflation data, sending the broader market lower. Selling intensified during the last hour of the rollercoaster session. The S&P 500 index closed the session near day’s lows at 4467.71, down 31.67 points (-0.70%). Note: Our daily “S&P 500 Trading plan” will be (more…)
THE GIST (“THE WHAT”) Moody’s lowered credit ratings for ten small and medium sized banks, reigniting health concerns of U.S. banks and triggering a sell-off in regional stocks that lead the broader market lower. Weaker-than-expected China’s export numbers stoked global recessionary concerns, further dampening sentiment at the open. The S&P 500 index tumbled during the (more…)
