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…)
THE GIST (“THE WHAT”) Oscillating between gains and losses after the Fed issued its widely expected rate hike pause, the S&P 500 index managed to eke out slight gains, closing the choppy session at 4372.58, up 3.56 points (0.08%). Modest gains during the early part of the trading session fizzled after the Fed released its (more…)
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…)
