Pence Wealth

Daily Market Report | 10/30/2023 US FINANCIAL MARKET Oil Falls 3% as Weekend Jitters Ease; Stocks Rise: Markets Wrap - Bloomberg, 10/30/2023 Stocks rose around the world, oil fell 3% while Treasuries retreated as Israel’s ground incursion into Gaza appeared less extensive than some investors had feared. The S&P 500 traded off session highs, while still halting a three-day slide that drove the gauge to oversold levels. Facebook parent Meta Platforms led gains in the beaten-down megacap space, though Tesla bucked that trend — dropping 3%. Ten-year US yields rose six basis points to [...]

Daily Market Report | 10/23/2023 US FINANCIAL MARKET Treasury 10-Year Yield Retreats After Hitting 5%: Markets Wrap - Bloomberg, 10/23/2023 A renewed bout of volatility in the bond market impacted stock trading on Monday, with investors also awaiting earnings from a handful of big tech companies. Oil and gold retreated as Israel appeared to hold off on a broader ground invasion in Gaza. The S&P 500 swung between gains and losses after briefly breaching its key 4,200 mark — which represents a 50% retracement of the rally off the lows seen in the banking [...]

Daily Market Report | 10/18/2023 US FINANCIAL MARKET Stocks Drop, Oil Climbs on Renewed Mideast Risks: Markets Wrap - Bloomberg, 10/18/2023 Stocks were under pressure and oil climbed as Iran intensified its rhetoric against Israel after an explosion at a Gaza hospital that complicated diplomatic efforts to rein in the Middle East conflict. The S&P 500 fell 0.8%. The Nasdaq 100 fell 0.9%. The Dow Jones Industrial Average fell 0.6%. Megacaps led losses as Treasury yields rose, with Nvidia down 3% and Tesla sliding ahead of its results. Morgan Stanley sank about 7% as [...]

Daily Market Report | 10/16/2023 US FINANCIAL MARKET Stocks Rise Amid Efforts to Stifle Israel Conflict: Markets Wrap - Bloomberg, 10/16/2023 Stocks rose and bonds fell amid diplomatic efforts to prevent the Israel-Hamas war from expanding into a regional conflict. Oil edged lower, following last week’s rally. The S&P 500 halted a two-day slide, with traders also gearing up for a raft of earnings reports over the next few days. The S&P 500 rose 0.6%. The Nasdaq 100 rose 0.8%. The Dow Jones Industrial Average rose 0.7%. Treasury 10-year yields advanced 10 basis points [...]

Daily Market Report | 10/11/2023 US FINANCIAL MARKET Wall Street Brushes Off Hot PPI as Stocks Advance: Markets Wrap – Bloomberg, 10/11/2023 Stocks rose as traders shrugged off a hotter-than-estimated inflation reading to focus on less hawkish comments from Federal Reserve speakers. Oil fell after an early-week surge. The S&P 500 gained for a fourth straight session, rebounding from technically oversold levels. The S&P 500 was little changed. The Nasdaq 100 rose 0.3%. The Dow Jones Industrial Average rose 0.1%. Tech megacaps outperformed, while Exxon Mobil led losses in energy shares after agreeing to [...]

Daily Market Report | 10/04/2023 US FINANCIAL MARKET Bond Rout Eases as Traders Parse Job, Service Data: Markets Wrap - Bloomberg, 10/4/2023 Global bonds steadied Wednesday as traders parsed US data and raised bets that the Federal Reserve can refrain from further interest rate increases. Ten-year Treasury yields remain lower on the day after the rate on the benchmark had reached as high as 4.88% early in the session. Traders are pricing a less than one-in-five chance of an increase in November, down from one-in-three previously. Stocks wavered with the S&P 500 poised to [...]

Daily Market Report | 10/03/2023 US FINANCIAL MARKET Stock, Bond Drop Deepens After Jobs Data Surprise: Markets Wrap - Bloomberg, 10/3/2023 Stocks slumped while the retreat in Treasuries get fresh legs as investors digested an unexpected rise in job openings in August. The S&P 500 and Nasdaq 100 indexes fell more than 1% after Tuesday data showing the number of available positions rose to 9.61 million from less than 9 million in July, according to the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey, or JOLTS. The Dow Jones Industrial Average fell [...]