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 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…)