Pence Wealth

Daily Market Report | 08/29/2023 US FINANCIAL MARKET Stocks Up, Yields Down as Data Fuel Fed Skip Bets: Markets Wrap – Bloomberg, 8/29/2023 Wall Street traders pushed the stock market higher, while bond yields retreated after economic reports bolstered speculation the Federal Reserve will be able to pause its interest-rate hikes in September. The S&P 500 headed toward its longest winning streak in a month, topping 4,450. A rally in megacaps like Tesla and Nvidia sent the Nasdaq 100 up 1.5%. Treasury two-year yields, which are more sensitive to imminent policy moves, dropped 14 [...]

Daily Market Report | 08/28/2023 US FINANCIAL MARKET Stocks Start Data-Packed Week on a Positive Note: Markets Wrap - Bloomberg, 8/28/2023 Stocks advanced, while bond yields retreated at the start of a week jam-packed with economic data that will help shape the outlook for Federal Reserve policy. The S&P 500 rose 0.7%. The Nasdaq 100 rose 0.7%. The Dow Jones Industrial Average rose 0.8%. 3M rallied as Bloomberg News reported the company has tentatively agreed to pay more than $5.5 billion to resolve lawsuits claiming it sold defective combat earplugs. Megacaps were mixed, with [...]

Daily Market Report | 08/25/2023 US FINANCIAL MARKET Stocks Fall as Powell Signals ‘Job Isn’t Done Yet’: Markets Wrap - Bloomberg, 8/25/2023 Stocks fell and bond yields rose after Jerome Powell signaled the Federal Reserve will keep policy tighter for longer to bring inflation back to its target, while saying it “will proceed carefully” on whether to raise interest rates again. The S&P 500 fell 0.4%. The Nasdaq 100 fell 0.6%. The Dow Jones Industrial Average fell 0.1%. The yield on 10-year Treasuries advanced three basis points to 4.27%. The Bloomberg Dollar Spot Index [...]

Daily Market Report | 08/24/2023 US FINANCIAL MARKET Tech Rally Sputters as Yields Rise Before Powell: Markets Wrap - Bloomberg, 8/24/2023 A rally in big tech fizzled out as bond yields rose, with traders awaiting Jerome Powell’s speech on Friday for clues on the outlook for interest rates. The S&P 500 erased gains, while the Nasdaq 100 fell 1% — after rising about as much earlier in the day. The Dow Jones Industrial Average fell 0.4%. The megacap space came under pressure, with Tesla and Apple each dropping at least 1.8%. Nvidia trimmed most [...]

Daily Market Report | 08/23/2023 US FINANCIAL MARKET Stocks, Bonds Climb as Data Fuel Fed Pause Wagers: Markets Wrap - Bloomberg, 8/23/2023 Bonds climbed around the world as weak economic data in the US and Europe bolstered bets that major central banks will pause their interest-rate hikes to prevent a recession. The S&P 500 rose 0.9%. The Nasdaq 100 rose 1.5%. The Dow Jones Industrial Average rose 0.3%. Big tech led gains in stocks before Nvidia’s earnings. Traders also weighed a US government report saying that job growth in the year through March will [...]

Daily Market Report | 08/22/2023 discretionary spend,” he said. “And that’s really for us the overall theme of how we see the second half of the year.” Dick’s Sporting Goods Blames Theft for Profit Woes - Wall Street Journal, 8/22/2023 Dick’s Sporting Goods shares plunged 20% Tuesday after the retailer posted weak earnings and said rising retail theft was sapping its profitability. The sporting-goods chain had been riding a pandemic surge in demand for outdoor gear and recently cited theft as a problem for its stores. Sales were up 3.6% at $3.22 billion in [...]

Daily Market Report | 08/21/2023 US FINANCIAL MARKET Stocks Almost Wipe Out Gains as Bond Yields Climb: Markets Wrap - Bloomberg, 8/21/2023 Stocks almost erased their gains as a renewed slide in Treasuries pushed 10-year yields to the highest level since 2007. The S&P 500 was little changed. The Nasdaq 100 rose 0.6%. The Dow Jones Industrial Average fell 0.4%. Traders also awaited Nvidia’s results and a speech by Federal Reserve Chair Jerome Powell later this week. The yield on 10-year inflation-protected Treasuries exceeded 2% for the first time since 2009 as investors demand [...]