Pence Wealth

Daily Market Report | 08/08/2023 US FINANCIAL MARKET Stocks Drop as Bank, Economic Worries Lift Bonds: Markets Wrap - Bloomberg, 8/8/2023 Stocks fell around the world as traders rushed into bonds after a raft of news on China, Italy and the US fanned worries about the financial system and the global economy. The S&P 500 fell 1.1%. The Nasdaq 100 fell 1.4%. The Dow Jones Industrial Average fell 1.3%. Financial shares bore the brunt of the selling as Moody’s Investors Service downgraded 10 small and midsize American lenders and said it may do the [...]

Daily Market Report | 08/07/2023 US FINANCIAL MARKET Treasuries Kick Off Week With Losses After Fed speak: Market Wrap - Bloomberg, 8/7/2023 Treasuries started the week under pressure after remarks from a Federal Reserve official signaled interest rates could remain higher for longer to tame inflation pressures. Ten-year US yields resumed their advance, the dollar fluctuated and the S&P 500 rebounded from its worst weekly drop since March. The tech-heavy Nasdaq 100 underperformed, led by losses in Tesla and Apple. The S&P 500 rose 0.7%. The Nasdaq 100 rose 0.5%. The Dow Jones Industrial [...]

Daily Market Report | 08/04/2023 US FINANCIAL MARKET Stocks Rise, Bond Yields Fall After Mixed Jobs: Markets Wrap - Bloomberg, 8/4/2023 Wall Street saw a reversal of the moves of the past few days, with stocks rising and bond yields falling after a mixed jobs report did little to alter bets on the outlook for Federal Reserve policy. The S&P 500 rose 0.4%. The Nasdaq 100 rose 0.4%. The Dow Jones Industrial Average rose 0.6%. There was something for every bull and bear in the labor-market figures, with payrolls growing at a softer-than-estimated pace [...]

Daily Market Report | 08/03/2023 US FINANCIAL MARKET Treasury Rout Unnerves Traders as Stocks Retreat: Markets Wrap - Bloomberg, 8/3/2023 Treasuries deepened a selloff, driving the 10-year yield to a nine-month high, and equities slumped as investors grew increasingly worried about rising borrowing costs. The S&P 500 extended Wednesday’s losses and European stocks fell almost 1%. The S&P 500 fell 0.2%. The Nasdaq 100 was little changed. The Dow Jones Industrial Average fell 0.2%. The dollar strengthened for a fourth day. Jobless claims numbers out Thursday underscored resilient demand for workers and the strength [...]

Daily Market Report | 08/02/2023 US FINANCIAL MARKET Stocks Hit Session Lows With Nasdaq 100 Down 2%: Markets Wrap - Bloomberg, 8/2/2023 Stocks fell and bond yields rose, following a hot labor-market reading and as the Treasury boosted the size of its debt sales just a day after the US was downgraded by Fitch Ratings. The S&P 500 fell over 1% and was set for its biggest decline since May, while the Nasdaq 100 dropping almost twice as much. The Dow Jones Industrial Average fell 0.8%. Ten-year yields hit the highest since November as [...]

Daily Market Report | 08/01/2023 US FINANCIAL MARKET Stocks Pull Back From July Rally on Weak Earnings: Markets Wrap – Bloomberg, 8/1/2023 The stock rally that catapulted the S&P 500 to a 16-month high lost momentum after a flurry of companies reported disappointing earnings. Traders also waded through mixed data on jobs openings. The S&P 500 fell 0.3%. The Nasdaq 100 fell 0.3%. The Dow Jones Industrial Average was little changed. JetBlue Airways sank after slashing its full-year profit forecast and saying it would earn less than analysts expected this quarter. Cruise operators fell [...]

Daily Market Report | 07/31/2023 US FINANCIAL MARKET Stock Traders Hold Back on Big Moves After Rally: Markets Wrap - Bloomberg, 7/31/2023 Wall Street traders refrained from making big moves at the start of a busy week for corporate earnings, with the stock market still on pace to notch its longest streak of monthly gains since August 2021. Investors have looked past concern about an earnings recession as data bolstered hopes on a soft landing despite the Federal Reserve’s rate hikes. Still, valuation worries have resurfaced, with the market trading near overbought levels. While [...]