Pence Wealth

Daily Market Report | 07/28/2023 US FINANCIAL MARKET Stock Market Today: Stocks Move Higher as Big Tech Climbs - Wall Street Journal, 7/28/2023 U.S. stock indexes rose Friday, lifted by tech shares, as blue-chip earnings and fresh inflation data rolled in. The Nasdaq Composite added more than 1.5%. The S&P 500 and Dow industrials also rose. The Dow on Thursday snapped a 13-day winning streak, its longest since 1987. Big tech stocks, including Alphabet and Meta Platforms, powered ahead. Big tech shares were among the day's leading gainers. The S&P 500's communications services sector [...]

Daily Market Report | 07/27/2023 US FINANCIAL MARKET Nasdaq 100 Up 1% as GDP Fuels ‘Soft Landing’ Calls: Markets Wrap - Bloomberg, 7/27/2023 Stocks rose as data signaled the world’s largest economy remains strong despite the Federal Reserve’s aggressive tightening campaign, bolstering the case for a so-called soft landing. Major equity benchmarks gained as a report showed gross domestic product unexpectedly picked up steam in the second quarter, while US pending home sales unexpectedly rose in June. The S&P 500 rose 0.5%. The Nasdaq 100 rose 1.1%. The Dow Jones Industrial Average rose 0.2%. [...]

Daily Market Report | 07/26/2023 US FINANCIAL MARKET Stocks Lose Steam Just a Few Hours Away From Fed: Markets Wrap - Bloomberg, 7/26/2023 Wall Street traders bracing for a Federal Reserve rate hike on Wednesday sent stocks lower on speculation Jerome Powell will signal another increase this year isn’t entirely off the cards. The S&P 500 fell 0.3%. The Nasdaq 100 fell 0.9%. The Dow Jones Industrial Average was little changed. After a widely expected 25-basis-point boost in July, the swap market is currently projecting a 52% chance of a move of that same [...]

Daily Market Report | 07/25/2023 US FINANCIAL MARKET US Stocks Muted, Bonds Under Pressure After Data: Markets Wrap - Bloomberg, 7/25/2023 US stock trading was muted as traders awaited earnings from technology megacaps and Wednesday’s Federal Reserve decision. The S&P 500 fluctuated, while the tech-heavy Nasdaq 100 outperformed as Microsoft and Alphabet were due to report their results. Shares in both companies rose as investors waited to see if the results justify the companies’ hefty year-to-date share gains. The S&P 500 rose 0.1%. The Nasdaq 100 rose 0.7%. The Dow Jones Industrial Average was [...]

Daily Market Report | 07/24/2023 US FINANCIAL MARKET Global Bonds Advance After Weak European Data: Markets Wrap - Bloomberg, 7/24/2023 Global bonds climbed and stocks posted small gains Monday, as sharp declines in manufacturing and services gauges across Europe fanned concerns about economic growth. Investors were wary of making big equity bets at the start of a week packed with major central bank policy decisions and corporate earnings. Global bonds climbed and stocks posted small moves Monday after weak economic data in both the US and Europe fueled concern about a global slowdown. US [...]

Daily Market Report | 07/21/2023 US FINANCIAL MARKETTech Stocks Pare Rebound; Treasuries Rise: Markets Wrap – Bloomberg, 7/21/2023Technology shares eased back from a potential rebound on Friday while Treasuries rose and the yen weakened on speculation the Bank of Japan won’t make any changes to its yield curve control program.The S&P 500 and tech-heavy Nasdaq 100 were little changed after earlier gains attempting to claw back losses in the previous session on disappointing results from Tesla and Netflix.The yield on 10-year Treasuries declined three basis points to 3.82%.American Express fell 4.2% after missing revenue forecasts.Meanwhile, the yen [...]

Daily Market Report | 07/20/2023 US FINANCIAL MARKET Nasdaq 100 Slumps as Netflix Dulls Tech Shine: Markets Wrap - Bloomberg, 7/20/2023 US equities and Treasuries fell Thursday as investors digested a round of disappointing tech earnings and a spike in commodity prices including wheat. The tech-heavy Nasdaq 100 fell 0.6%, with Netflix set for its biggest intraday decline since December after missing sales estimates and issuing a disappointing revenue forecast. The S&P 500 fell 0.2%. The Dow Jones Industrial Average rose 0.3%. Tesla slid after profitability shrank in the second quarter, a sign the [...]

Daily Market Report | 07/19/2023 US FINANCIAL MARKET US Stock Rally Plows Forward Amid Peak-Rate Bets: Markets Wrap - Bloomberg, 7/19/2023 US stocks and bonds followed those in Europe higher as investors cheered cooling inflation in the UK and were able to look past an earnings miss at Goldman Sachs. Second quarter profit at the Wall Street investment bank tumbled on real estate hits and a dealmaking slump, though US bank shares were largely spared from losses after solid bank earnings earlier in the week. The S&P 500 rose 0.4% and Treasuries across the [...]

Daily Market Report | 07/18/2023 US FINANCIAL MARKET US Stocks Drift as Traders Lock in Fed Rate Bets: Markets Wrap - Bloomberg, 7/18/2023 US stocks drifted and bonds rallied as the latest batch of economic data came in below expectations and traders fully priced in a quarter-point hike in interest rates by the Federal Reserve next week. The S&P 500 was little changed and the 10-year Treasury yield fell after figures on industrial production and retail sales missed estimates, on top of mixed results from Bank of America and Morgan Stanley. The Nasdaq 100 [...]