Pence Wealth

Daily Market Report | 09/29/2023 US FINANCIAL MARKET Stocks, Bonds Rebound Trimmed as Walkouts Spread: Markets Wrap - Bloomberg, 9/29/2023 US stocks and Treasuries trimmed an advance as plans for auto plant strikes were expanded. The S&P 500 was up 0.5%, while the Nasdaq 100 pared back from a 1.4% jump after the Federal Reserve’s preferred measure of inflation increased at a slower-than-expected pace. The Dow Jones Industrial Average rose 0.1%. Ford Motor and General Motors turned negative on plans from the United Auto Workers to extend a walkout to three more plants. US [...]

Daily Market Report | 09/28/2023 US FINANCIAL MARKET Bond Selloff Gains Steam as September Losses Mount: Markets Wrap - Bloomberg, 9/28/2023 A global bond selloff deepened on Thursday amid speculation that central banks from the US to Europe are poised to keep interest rates elevated. The S&P 500 rose 0.3%. The Nasdaq 100 rose 0.3%. The Dow Jones Industrial Average rose 0.3%. Yields on 10-year Treasuries rose nearly eight basis points to 4.69% and those on the 30-year bond briefly reached 4.81%, the highest since 2010. In the UK, benchmark government bond yields climbed [...]

Daily Market Report | 09/26/2023 US FINANCIAL MARKET S&P 500 Hits 3-Month Low as Economy Angst Climbs: Markets Wrap - Bloomberg, 9/26/2023 The S&P 500 slid to a three-month low Tuesday as consumer confidence in the economy waned and investors factored in a protracted period of high interest rates. A selloff in government bonds paused while the dollar climbed. The S&P 500 lost 1.1% as the equities benchmark fell to the lowest since June after a report showed consumer confidence in the world’s biggest economy stalled this month, falling to 103 from a revised [...]

Daily Market Report | 09/25/2023 US FINANCIAL MARKET Bonds Fall, Dollar Rallies as Hawkish Fed Sinks In: Markets Wrap - Bloomberg, 9/25/2023 Government bonds fell while stocks steadied as traders speculated central banks will keep interest rates elevated to quell inflation. A gauge of dollar strength hit its highest level this year. The US Treasury 10-year yield climbed nearly 10 basis points to a high of 4.53%, a level last seen in 2007. Bloomberg’s Dollar Spot Index rose for a fourth day, reaching the highest since December. The S&P 500 and tech-heavy Nasdaq 100 [...]

Daily Market Report | 09/22/2023 US FINANCIAL MARKET Stocks Rise at End of Bruising Week on Wall Street: Markets Wrap - Bloomberg, 9/22/2023 Stocks rebounded from nearly oversold levels as bond yields fell, with traders weighing a subdued reading on business activity and the latest Fedspeak for clues on the outlook for monetary policy. The S&P 500 halted a three-day slide, while still heading toward its worst week since March. The S&P 500 rose 0.3%. The Nasdaq 100 rose 0.6%. The Dow Jones Industrial Average rose 0.1%. Big tech led gains after bearing the [...]

Daily Market Report | 09/21/2023 US FINANCIAL MARKET Wall Street Is Bracing for Fed’s ‘Hawkish Hold’: Markets Wrap - Bloomberg, 9/20/2023 Stocks, bonds and the dollar saw small moves, with traders betting the Federal Reserve will keep interest rates steady on Wednesday while hinting at the possibility of hiking again, if warranted. The S&P 500 edged higher. The Nasdaq 100 was little changed. The Dow Jones Industrial Average rose 0.4%. FedEx, a global economic bellwether, is due to report earnings after the close. Two-year US yields halted a four-day advance. The yield on 10-year [...]

Daily Market Report | 09/20/2023 US FINANCIAL MARKET Wall Street Is Bracing for Fed’s ‘Hawkish Hold’: Markets Wrap - Bloomberg, 9/20/2023 Stocks, bonds and the dollar saw small moves, with traders betting the Federal Reserve will keep interest rates steady on Wednesday while hinting at the possibility of hiking again, if warranted. The S&P 500 edged higher. The Nasdaq 100 was little changed. The Dow Jones Industrial Average rose 0.4%. FedEx, a global economic bellwether, is due to report earnings after the close. Two-year US yields halted a four-day advance. The yield on 10-year [...]

Daily Market Report | 09/13/2023 US FINANCIAL MARKET Wall Street Says CPI Not a ‘Game Changer’ for Fed: Markets Wrap – Bloomberg, 9/13/2023 Stocks, bonds and the dollar saw small moves, with a mixed inflation report reinforcing speculation the Federal Reserve will pause its rate hikes — but refrain from calling the end of its tightening cycle. The S&P 500 was little changed. Megacaps were mixed, with the chiefs of five of the 10 biggest US companies appearing at a closed-door Senate meeting to shape how artificial intelligence is regulated. Apple fell as China [...]

Daily Market Report | 09/12/2023 US FINANCIAL MARKET Tech Weighs on Stocks as Dollar Gains Before CPI: Markets Wrap - Bloomberg, 9/11/2023 Stocks retreated, while the dollar rebounded as investors geared up for a key inflation report that’s expected to bring more insights on the outlook for the Federal Reserve’s next steps. The S&P 500 fell 0.4%. The Nasdaq 100 fell 0.7%. The Dow Jones Industrial Average fell 0.2%. Tech led losses in the S&P 500, with Oracle sinking 12% — the most since 2020 — after a slowdown in cloud sales. Apple dropped [...]