Pence Wealth

Daily Market Report | 08/18/2023 US FINANCIAL MARKET Global Stocks Heading for Worst Week Since March: Markets Wrap - Bloomberg, 8/18/2023 Stocks slumped, putting a global benchmark on track for the biggest weekly loss since March, as worries about China and higher global interest rates sapped sentiment. The S&P 500 fell 0.7%. The Dow Jones Industrial Average fell 0.5%. The Nasdaq 100 slumped 0.8%, outpacing the decline of S&P 500 peers and building on the selloff that’s stretched across risk assets. Bitcoin slid as much as 8% and oil was set for its first [...]

Daily Market Report | 08/17/2023 US FINANCIAL MARKET Tech Behemoths Drag on Stocks as Bonds Sell Off: Markets Wrap - Bloomberg, 8/17/2023 Tech heavyweights dragged on US benchmarks with stocks poised to extend a slump into a third day, a global bond market selloff intensified. The S&P 500 erased early gains, the equities gauge has closed below a closely-watched technical level twice this week. The Nasdaq 100 fell 0.5% with Apple and Tesla weighing on the large-cap growth index. While many investors had believed that the Federal Reserve was done raising interest rates, that’s [...]

Daily Market Report | 08/15/2023 US FINANCIAL MARKET Banks Drag on S&P 500 as Rate Wagers Dwindle: Markets Wrap - Bloomberg, 8/15/2023 Stocks slumped as investor debate shifts toward how long the Federal Reserve will keep higher interest rates. US bonds gained as investors bought the dip. The S&P 500 fell 0.8% while the Nasdaq 100 slid 0.7% after US retail sales rose more than forecast, data that suggested the economy can support higher rates and may dissuade policy makers from pivoting to easier policy. The Dow Jones Industrial Average fell 0.8%. Financials weighed [...]

Daily Market Report | 08/14/2023 US FINANCIAL MARKET Stocks Weaken as China Contagion Risks Weighed: Markets Wrap - Bloomberg, 8/14/2023 Equity markets wobbled and US Treasury yields rose as investors weighed the potential for policy action by Chinese regulators to address mounting financial and property risks. Stocks were mixed in light trading as the tech-heavy Nasdaq 100 and favorites like Nvidia clung to gains. The S&P 500 was little changed. The Nasdaq 100 rose 0.2%. The Dow Jones Industrial Average fell 0.1%. Smaller stocks fared worse with the Russell 2000 falling to the lowest [...]

Daily Market Report | 08/11/2023 US FINANCIAL MARKET Stocks Erase Losses After Consumer Sentiment Data: Markets Wrap - Bloomberg, 8/11/2023 Stocks erased losses after data showed an unexpected drop in inflation expectations, bolstering the outlook for a pause in Federal Reserve rate hikes next month. The S&P 500 was little changed, while still heading toward a second straight week of losses. The Nasdaq 100 fell 0.3%. The Dow Jones Industrial Average rose 0.4%. The two-year US yield, which is more sensitive to imminent policy moves, pared its increase and hovered near 4.85%. Americans expect [...]

Daily Market Report | 08/10/2023 US FINANCIAL MARKET Stocks Rise as CPI Bolsters Bets on a Fed Skip: Markets Wrap - Bloomberg, 8/10/2023 Stocks rose after US inflation data reinforced speculation the Federal Reserve will pause its interest-rate hikes in September. The stock market advanced after a two-day slide, with all major groups in the S&P 500 pushing higher. The tech-heavy Nasdaq 100 outperformed, led by gains in giants Tesla, Apple and Microsoft. The S&P 500 rose 0.7%. The Nasdaq 100 rose 0.9%. The Dow Jones Industrial Average rose 0.7%. Treasury two-year yields, which [...]

Daily Market Report | 08/09/2023 US FINANCIAL MARKET Nasdaq 100 Drops 1% in Run-Up to Key CPI Report: Markets Wrap - Bloomberg, 8/9/2023 A slide in tech megacaps and higher energy prices weighed on stock trader sentiment ahead of key inflation data that will help shape up the outlook for the Federal Reserve’s next steps. The S&P 500 fell 0.4%. The Nasdaq 100 fell 1%. The Dow Jones Industrial Average fell 0.1%. Nvidia dropped 5% while Tesla was down by 2.5%. A 40% surge in European natural gas and an advance in oil to [...]