Pence Wealth

Daily Market Report | Feb. 26, 2021 U.S. Stocks Waver After Tech Selloff – Wall Street Journal, 2/26/2021 U.S. stocks struggled to right themselves Friday, one day after a sharp selloff in technology stocks amplified fears that equity valuations got overheated on the back of low bond rates and central-bank policy. The Dow Jones Industrial Average fell 0.9%, or 273 points, and the S&P 500 was down 0.1%. The Nasdaq Composite rose 0.5%, while equities markets overseas were down as well. A wave of selling in U.S. government bonds on Thursday, combined with the [...]

Daily Market Report | Feb. 25, 2021 Stocks Fall, Led Lower by Tech Shares – Wall Street Journal, 2/25/2021 U.S. stocks edged lower Thursday, weighed down by declines in technology shares. Stocks have wobbled the past week as investors have grappled with a sharp rise in bond yields. The shift, which money managers have broadly attributed to bets on inflation and growth picking up, has tempered enthusiasm for some of the pricier sectors of the stock market. The S&P 500 technology sector lost 0.5% Thursday, among the worst-performing sectors in the index. Meanwhile, sectors [...]

Daily Market Report | Feb. 24, 2021 U.S. Stocks Tick Lower Ahead of Powell Testimony – Wall Street Journal, 2/24/2021 U.S. stocks edged lower Wednesday as investors awaited comments from Jerome Powell, a day after the Federal Reserve chairman soothed unsettled markets. The Dow Jones Industrial Average fell 9 points, or less than 0.1%, shortly after the opening bell. The S&P 500 dropped 0.1% and the Nasdaq Composite lost 0.50%. Investors said a rise in government-bond yields, driven by improving growth prospects and rising inflation expectations, has accelerated a rotation out of the tech [...]

Daily Market Report | Feb. 23, 2021 Stocks Drop Ahead of Powell’s Comments – Wall Street Journal, 2/23/2021 A retreat in technology stocks continued Tuesday as U.S. stocks slid and investors awaited Federal Reserve Chairman Jerome Powell’s testimony in Congress on the health of the economy. The benchmark stocks gauge on Monday fell for a fifth consecutive day, its longest losing streak since last February. A sharp rise in yields on U.S. government bonds in recent days has sapped investors’ appetite for riskier assets, including stocks. Shares in technology companies, which have powered the [...]

Daily Market Report | Feb. 22, 2021 U.S. Stocks Drop Amid Rising Bond Yields – Wall Street Journal, 2/22/2021 U.S. stocks fell on Monday as rising bond yields fueled concern that a surge higher in technology shares could slow down. The tech-heavy Nasdaq Composite dropped 0.9% in morning trading. Many of the tech giants that had been trading at record highs earlier this month posted declines. Microsoft dropped 2.3%, while Google parent Alphabet fell 1.5%. Apple was down 1.4% at the open. Investors’ bets on an economic rebound later in the year have contributed [...]

Daily Market Report | Feb. 19, 2021 Stocks, Bond Yields Rise to End Week – Wall Street Journal, 2/19/2021 An increasingly optimistic outlook on the U.S. economy led investors to dump government bonds and pile into economically sensitive sectors of the stock market on Friday. JPMorgan Chase strategists said Friday that they expect consumers to shatter expectations for the rest of the year given expected fiscal stimulus and economic reopening as the pandemic eases. Meanwhile, Federal Reserve Bank of Boston President Eric Rosengren said he expects the economy to pick up steam this year [...]

Daily Market Report | Feb. 18, 2021 Stocks Fall, Weighed Down by Tech Losses and Jobless Claims – Wall Street Journal, 2/18/2021 U.S. stocks dropped Thursday, weighed down by losses among technology companies. Stocks have taken a breather in recent sessions after powering higher for much of 2021. Some investors have been caught off guard by a quick rise in government-bond yields, which appeared to knock down shares of fast-growing companies that have benefited from years of low interest rates. In the government-bond market, yields on 10-year Treasury notes edged up to 1.312% from [...]

Daily Market Report | Feb. 17, 2021 U.S. Stocks Slip Ahead of Fed Minutes – Wall Street Journal, 2/17/2021 U.S. stocks fell Wednesday as investors weighed signs of an improving economy against concerns about lofty stock valuations and rising inflation expectations. Stocks have been muted in recent days after a rally that saw the major indexes notch record highs. Fresh data on Wednesday showed that U.S. retail sales climbed more than expected in January, driven in part by the latest round of stimulus checks and declining Covid-19 infection numbers. That marked a turnaround from [...]