Stocks Pare Drop as Bank Rally Tempers Bleak Data
Pence Wealth2020-05-28T12:01:39-07:00US FINANCIAL MARKET Wall Street climbs as investors hold out for recovery; Nasdaq at 3-month high Wall Street’s main indexes surged and the Nasdaq hit a three-month high on Wednesday, as investors clung to hopes of a recovery from a coronavirus-fueled slump amid signs of more stimulus for ailing sectors. The tech-heavy index, now about 5% below its all-time high hit in February, boosted by Facebook and Amazon.com, which were trading at record levels, as well as Apple. The S&P 500 tumbled 1% in the final hour of Tuesday’s session after a report raised doubts about positive results [...]
Stocks Edge Lower as Powell Says Outlook ‘Highly Uncertain’
Pence Wealth2020-05-28T12:01:20-07:00US FINANCIAL MARKET Wall Street climbs as investors hold out for recovery; Nasdaq at 3-month high Wall Street’s main indexes surged and the Nasdaq hit a three-month high on Wednesday, as investors clung to hopes of a recovery from a coronavirus-fueled slump amid signs of more stimulus for ailing sectors. The tech-heavy index, now about 5% below its all-time high hit in February, boosted by Facebook and Amazon.com, which were trading at record levels, as well as Apple. The S&P 500 tumbled 1% in the final hour of Tuesday’s session after a report raised doubts about positive results [...]
Stocks Fluctuate Amid Easing Lockdowns
Pence Wealth2020-05-28T12:01:02-07:00US FINANCIAL MARKET Wall Street climbs as investors hold out for recovery; Nasdaq at 3-month high Wall Street’s main indexes surged and the Nasdaq hit a three-month high on Wednesday, as investors clung to hopes of a recovery from a coronavirus-fueled slump amid signs of more stimulus for ailing sectors. The tech-heavy index, now about 5% below its all-time high hit in February, boosted by Facebook and Amazon.com, which were trading at record levels, as well as Apple. The S&P 500 tumbled 1% in the final hour of Tuesday’s session after a report raised doubts about positive results [...]
S&P 500, Dow Slip on Fear of New Infection Wave
Pence Wealth2020-05-28T12:00:43-07:00US FINANCIAL MARKET Wall Street climbs as investors hold out for recovery; Nasdaq at 3-month high Wall Street’s main indexes surged and the Nasdaq hit a three-month high on Wednesday, as investors clung to hopes of a recovery from a coronavirus-fueled slump amid signs of more stimulus for ailing sectors. The tech-heavy index, now about 5% below its all-time high hit in February, boosted by Facebook and Amazon.com, which were trading at record levels, as well as Apple. The S&P 500 tumbled 1% in the final hour of Tuesday’s session after a report raised doubts about positive results [...]
Stocks Accelerate Gains Despite Grim Jobs Report
Pence Wealth2020-05-28T12:00:20-07:00US FINANCIAL MARKET Wall Street climbs as investors hold out for recovery; Nasdaq at 3-month high Wall Street’s main indexes surged and the Nasdaq hit a three-month high on Wednesday, as investors clung to hopes of a recovery from a coronavirus-fueled slump amid signs of more stimulus for ailing sectors. The tech-heavy index, now about 5% below its all-time high hit in February, boosted by Facebook and Amazon.com, which were trading at record levels, as well as Apple. The S&P 500 tumbled 1% in the final hour of Tuesday’s session after a report raised doubts about positive results [...]
U.S. Stocks Climb as Jobless Claims Trend Lower
Pence Wealth2020-05-28T12:00:03-07:00US FINANCIAL MARKET Wall Street climbs as investors hold out for recovery; Nasdaq at 3-month high Wall Street’s main indexes surged and the Nasdaq hit a three-month high on Wednesday, as investors clung to hopes of a recovery from a coronavirus-fueled slump amid signs of more stimulus for ailing sectors. The tech-heavy index, now about 5% below its all-time high hit in February, boosted by Facebook and Amazon.com, which were trading at record levels, as well as Apple. The S&P 500 tumbled 1% in the final hour of Tuesday’s session after a report raised doubts about positive results [...]
Pence Perspective | Q1. 2020
Pence Wealth2020-05-27T10:20:01-07:00Pence Perspective | Q1. 2020 Executive Summary: 2019 was one of the greatest years for stocks. The S&P 500 was up 28.9% (or 31.5% including dividends), the second highest return since 1997 or fifth highest return since 1958. For 2020, we expect between high single-digit and low double-digit stock returns. We see fewer headwinds in 2020 compared to last year which may favor stocks over bonds. “Phase One” pact between the U.S. and China is done. Brexit is almost over. The global growth slowdown probably bottomed in 2019. The Fed is on hold, meaning we expect mortgage rates [...]
