Pence Wealth

Daily Market Report | 09/11/2023 US FINANCIAL MARKET Stocks Grind Higher as Dollar Halts Hot Streak: Markets Wrap - Bloomberg, 9/11/2023 Stocks advanced ahead of economic readings that will help shape Wall Street’s views on how close the Federal Reserve is from wrapping up its tightening cycle. Bonds were relatively stable. The S&P 500 hovered near the 4,500 mark. The S&P 500 rose 0.5%. The Nasdaq 100 rose 0.6%. The Dow Jones Industrial Average rose 0.2%. Tesla rallied as Morgan Stanley upgraded the company, saying its Dojo supercomputer may boost market value by as [...]

Daily Market Report | 09/08/2023 US FINANCIAL MARKET ‘Overloved’ Dollar Falls as Buyer Fatigue Kicks In: Markets Wrap - Bloomberg, 9/8/2023 The dollar lost traction, following a seemingly unstoppable rally that pushed currency toward a record streak of weekly gains on bets the Federal Reserve will keep rates elevated. Stocks and bonds edged higher. The Bloomberg Dollar Spot Index fell, while still on pace for its eighth consecutive week of advances — the longest run since 2005. A respite in the greenback’s surge reduced the pressure on commodities and emerging markets. The S&P 500 [...]

Daily Market Report | 09/07/2023 US FINANCIAL MARKET Nasdaq 100 Down 1% as Apple Leads Megacap Rout: Markets Wrap - Bloomberg, 9/7/2023 Stocks fell amid concern over how a Chinese ban on Apple’s iPhone could impact other segments of the American technology industry. Treasuries and the dollar were little changed, shrugging off the initial impact of jobless claims data that reinforced the case for the Federal Reserve to keep rates elevated. The Nasdaq 100 dropped 1%, while the S&P 500 declined for a third straight session. The S&P 500 fell 0.6%. The Dow Jones [...]

Daily Market Report | 09/06/2023 US FINANCIAL MARKET Traders Boost Bets on November Fed-Hike After ISM: Markets Wrap - Bloomberg, 9/6/2023 Stocks fell, while Treasury yields rose after a stronger-than-estimated reading on the US services industry bolstered speculation the Federal Reserve will keep interest rates higher for longer. The S&P 500 extended its drop below 4,500, while the Nasdaq 100 was down about 1% — with Tesla and Nvidia leading a selloff in big tech. The S&P 500 fell 0.7%. The Dow Jones Industrial Average fell 0.4%. Treasury two-year yields hit 5%. The dollar [...]

Daily Market Report | 09/05/2023 US FINANCIAL MARKET Dollar Hits Highest Since March as US Yields Climb: Markets Wrap – Bloomberg, 9/5/2023 The dollar hit the highest since March as Treasury yields rose and stocks fluctuated, with traders betting interest rates will remain elevated even if the Federal Reserve halts its tightening cycle this month. As the greenback advanced, options traders positioned for further strength — with one-year risk reversals near their most bullish levels since April. Ten-year US yields climbed seven basis points to 4.25% amid a surge in investment-grade bond sales. The [...]

Daily Market Report | 09/01/2023 US FINANCIAL MARKET Stocks Rise as Jobs Report Fuels Fed-Peak Wagers: Markets Wrap - Bloomberg, 9/1/2023 Stocks rose after jobs data fueled bets that the Federal Reserve will refrain from raising interest rates again this year to prevent an economic recession. The S&P 500 headed toward its best week since March. The S&P 500 rose 0.4%. The Nasdaq 100 was little changed. The Dow Jones Industrial Average rose 0.5%. Energy shares led gains on Friday as US oil hit $85 a barrel for the first time since November. Megacaps [...]

Daily Market Report | 08/31/2023 US FINANCIAL MARKET Stock Traders Hold Back on Big Bets Before Jobs: Markets Wrap - Bloomberg, 8/31/2023 Stocks, bonds and the dollar posted small moves after mixed economic data, with traders bracing for Friday’s jobs report for clues on the outlook for Federal Reserve policy. The S&P 500 rose for a fifth straight day, while still heading toward its worst month since February. The S&P 500 rose 0.4%. The Nasdaq 100 rose 0.7%. The Dow Jones Industrial Average rose 0.3%. Trading volume was 20% below the average of the [...]

Daily Market Report | 08/30/2023 US FINANCIAL MARKET S&P 500 Tops 4,500, Yields Drop on Economic Data: Markets Wrap – Bloomberg, 8/30/2023 Stocks rose, while Treasury yields fell as another batch of economic data cemented bets the Federal Reserve is approaching the end of its interest-rate hikes. The S&P 500 topped 4,500. Visa and Mastercard climbed on plans to boost the fees that many retailers pay when accepting customers’ credit and debit cards. Texas Instruments slid after an analyst downgrade while HP sank on a bearish outlook. Salesforce will report earnings after the close, [...]