THE GIST (“THE WHAT”) Inching higher, the S&P 500 index registered a fifteen and a half month high led by mega-cap tech stocks ahead of big tech earnings. Stronger-than-expected U.S. July consumer confidence further bolstered equities, raising the odds of a soft landing of the economy. Gains, however, were limited ahead of Fed’s policy decision (more…)

THE GIST (“THE WHAT”) Consolidating near 15-month highs, the S&P 500 index traded sideways ahead of mega-tech earnings. Bank stocks extended their gains in the wake of better than expected second quarter earnings results, while tech stocks gave up some of their recent gains following a strong recent rally. The index closed today’s choppy session (more…)

THE GIST (“THE WHAT”) The S&P 500 index rallied at the open following strong second quarter earnings releases by big banks. The rally faded mid-session as investors digested an unexpected jump in the University of Michigan’s U.S. July inflation expectations indicator and hawkish comments by Fed officials. Erasing early session gains, the index closed slightly (more…)

THE GIST (“THE WHAT”) Extending previous session’s gains, the S&P 500 index rallied higher to close above the closely watched 4500 level after June’s PPI data showed that inflation is subsiding, increasing the odds that the Fed could be nearing an end to its aggressive monetary tightening policy. Gapping higher at the open, the index (more…)

THE GIST (“THE WHAT”) Gapping higher at the open, the S&P 500 index held on to the gains as investors cheered the latest inflation report that indicated that consumer prices slowed more than expected in June. The index notched new highs for the year amid increasing odds that the Fed might by nearing an end (more…)

THE GIST (“THE WHAT”) Trading sideways for most part of the session, a late session jump pushed the S&P 500 index higher to close with a decent gain of 29.71 points (0.67%) at 4439.25 on hopes that key inflation data release this week could suggest continued easing of price pressures. Note: Our daily “S&P 500 Trading (more…)

THE GIST (“THE WHAT”) Extending previous session’s decline, the S&P 500 index fell at the open following stronger-than-expected U.S. employment report and ISM services data that reinforced the hawkish Fed outlook of an aggressive monetary policy. Finding support at the day’s low of 4385.05, the index however bounced back to claw back some of the (more…)

THE GIST (“THE WHAT”) The S&P 500 index closed the muted session modestly lower at 4446.81, down 8.77 points (-0.20%). Hawkish FOMC meeting minutes pushed yields higher and stocks lower. Weaker-than-expected economic data out of U.S. and China further dampened market sentiment ahead of key economic data releases this week. Note: Our daily “S&P 500 Trading (more…)

THE GIST (“THE WHAT”) Struggling for direction and trading mostly sideways ahead of the key economic data this week, the S&P 500 index closed today’s choppy session mostly unchanged at 4376.85, down 1.55 points (-0.04%). Defensive utilities were the biggest laggard amid expectations of rising interest rates following hawkish comments by Fed Chair Powell. Note: Our (more…)

THE GIST (“THE WHAT”) Trading sideways for most part of the morning session, the S&P 500 index broke higher after a bag of strong economic data raised the odds of a soft landing and boosted investors’ risk appetite despite a hawkish Fed. Closing Thursday’s gap, the index closed near the day’s highs at 4378.40, up (more…)