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Daily Market Report | 12/29/2023


Daily Market Report | 12/29/2023 US FINANCIAL MARKET S&P 500 Vies for Breakout at End of Stellar Year: Markets Wrap - Bloomberg, 12/29/2023 Wall Street’s final session of the year has stocks set for their ninth straight week of gains — the longest winning run since 2004. The S&P 500, Nasdaq 100 and The Dow Jones Industrial Average were little changed. While signs of exhaustion have emerged over the last few days, the lack of any significant catalyst and anemic trading volume have left equities drifting near all-time highs. The great cross-asset surge has [...]

Daily Market Report | 12/29/20232023-12-29T11:02:39-08:00

Daily Market Report | 12/28/2023


Daily Market Report | 12/28/2023 US FINANCIAL MARKET Nasdaq 100 Is Set for Best Year Since Dot-Com Era: Markets Wrap - Bloomberg, 12/28/2023 A banner year for stocks is drawing to a close, with gains in big tech leaving the market near all-time highs amid the artificial-intelligence exuberance and dovish Federal Reserve bets. With only two sessions left before the final closing bell of 2023, the Nasdaq 100 is poised for its best year since 1999 and the S&P 500 came even closer to a record. The gauge is roughly 1% below the average [...]

Daily Market Report | 12/28/20232023-12-28T11:13:04-08:00

Daily Market Report | 12/27/2023


Daily Market Report | 12/27/2023 US FINANCIAL MARKET US Stock Rally Loses Steam Near All-Time Highs: Markets Wrap - Bloomberg, 12/27/2023 Stocks struggled to find solid ground after a rally that put the market near a record on bets the Federal Reserve will cut rates next year. Without any major economic data or significant corporate events, the S&P 500 wavered. The Nasdaq 100 rose 0.2%. The Dow Jones Industrial Average rose 0.1%. With just a few days left before the end of 2023 — when volume tends to shrink — some traders are citing [...]

Daily Market Report | 12/27/20232023-12-27T10:09:03-08:00

[Season 4 Ep.9] Pence Market Insights


[Season 4 Ep.9] Market Update Podcast The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Historical performance is no guarantee of future results. All indices are unmanaged and may not be invested into directly. This information is not intended to be substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor. The economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will [...]

[Season 4 Ep.9] Pence Market Insights2023-12-21T14:52:58-08:00

Daily Market Report | 12/21/2023


Daily Market Report | 12/21/2023 US FINANCIAL MARKET Stocks Hold Onto Gains Amid Signs Economy Cooling: Markets Wrap - Bloomberg, 12/21/2023 US stocks held onto gains after Thursday data signaled the economy was headed in the right direction, cementing bets on prospective interest rate cuts from the Federal Reserve. The S&P 500 rose 0.7%. The Nasdaq 100 rose 0.6%. The Dow Jones Industrial Average rose 0.5%. Bonds slid with the rate on the US two-year rate around 4.35% while the 10-year rose to 3.88%. Gross domestic product was revised lower to a 4.9% annualized [...]

Daily Market Report | 12/21/20232023-12-21T11:03:47-08:00

Daily Market Report | 12/20/2023


Daily Market Report | 12/20/2023 US FINANCIAL MARKET Treasuries Trim Gains, Stocks Edge Up After Data: Markets Wrap - Bloomberg, 12/20/2023 US Treasuries held onto gains while stocks struggled to resume their climb after a fresh batch of data left traders measuring the chances a soft landing for the world’s largest economy. The yield on the US 10-year was down three basis points after reaching July levels before the reports, the benchmark rate is down more than 40 basis points this month. Sales of previously owned US homes edged higher in November off a [...]

Daily Market Report | 12/20/20232023-12-20T09:56:02-08:00

Daily Market Report | 12/18/2023


Daily Market Report | 12/18/2023 US FINANCIAL MARKET US Stocks Rally Plows Ahead While Bonds Falter: Markets Wrap - Bloomberg, 12/18/2023 US stocks kicked off the week on positive note buoyed by a burst of deals, even as central bankers sought to sow doubts that aggressive interest-rate cuts will materialize early next year. Coming off a seven-week bull run, the S&P 500 rose 0.4% while the Nasdaq 100 climbed 0.4% after the tech-heavy benchmark closed at a record on Friday. More than $40 billion of mergers and acquisitions hit the wire on Monday after [...]

Daily Market Report | 12/18/20232023-12-18T10:38:48-08:00

Daily Market Report | 12/15/2023


Daily Market Report | 12/15/2023 US FINANCIAL MARKET Everything Rally Cools as March Rate Cut in Doubt: Markets Wrap - Bloomberg, 12/15/2023 This week’s everything rally lost some heat on Friday after a Federal Reserve official threw cold water on hopes for an interest rate cut as early as March. US stocks and bonds were mixed while the dollar rebounded. New York Fed President John Williams told CNBC it was “premature” to be thinking about a March rate cut. The S&P 500 was little changed on the day, but remains on track for its [...]

Daily Market Report | 12/15/20232023-12-15T10:24:13-08:00

Daily Market Report | 12/14/2023


Daily Market Report | 12/14/2023 US FINANCIAL MARKET Stocks Join Bonds Higher in Fed-Fueled Optimism: Markets Wrap - Bloomberg, 12/14/2023 Wall Street extended its rally after dovish Federal Reserve signals unleashed a bullish pulse across global markets amid optimism the world’s largest economy will be able to avert a recession. Equities pushed higher — with the S&P 500 approaching its record and the Nasdaq 100 hovering near that mark — as the Fed pivoted toward reversing the steepest hikes in a generation after taming inflation without a major economic slowdown. The S&P 500 rose [...]

Daily Market Report | 12/14/20232023-12-15T10:18:16-08:00

The Fed May Only Do One or Two Rate Cuts Next Year


The Fed May Only Do One or Two Rate Cuts Next Year Dryden Pence, chief investment officer with Pence Capital Management joins ’Power Lunch’ to discuss the latest jobs report, its impact on the markets, and more. (Source:  CNBC Power Lunch) 12/08/2023 Disclosure: The opinions expressed are for general information purposes only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making any decision. All performance referenced is historical and is no guarantee of [...]

The Fed May Only Do One or Two Rate Cuts Next Year2023-12-14T10:51:58-08:00