Daily Market Report

Daily Market Report | 08/02/2023 US FINANCIAL MARKET Stocks Hit Session Lows With Nasdaq 100 Down 2%: Markets Wrap - Bloomberg, 8/2/2023 Stocks fell and bond yields rose, following a hot labor-market reading and as the Treasury boosted the size of its debt sales just a day after the US was downgraded by Fitch Ratings. The S&P 500 fell over 1% and was set for its biggest decline since May, while the Nasdaq 100 dropping almost twice as much. The Dow Jones Industrial Average fell 0.8%. Ten-year yields hit the highest since November as [...]

Daily Market Report | 08/01/2023 US FINANCIAL MARKET Stocks Pull Back From July Rally on Weak Earnings: Markets Wrap – Bloomberg, 8/1/2023 The stock rally that catapulted the S&P 500 to a 16-month high lost momentum after a flurry of companies reported disappointing earnings. Traders also waded through mixed data on jobs openings. The S&P 500 fell 0.3%. The Nasdaq 100 fell 0.3%. The Dow Jones Industrial Average was little changed. JetBlue Airways sank after slashing its full-year profit forecast and saying it would earn less than analysts expected this quarter. Cruise operators fell [...]

Daily Market Report | 07/31/2023 US FINANCIAL MARKET Stock Traders Hold Back on Big Moves After Rally: Markets Wrap - Bloomberg, 7/31/2023 Wall Street traders refrained from making big moves at the start of a busy week for corporate earnings, with the stock market still on pace to notch its longest streak of monthly gains since August 2021. Investors have looked past concern about an earnings recession as data bolstered hopes on a soft landing despite the Federal Reserve’s rate hikes. Still, valuation worries have resurfaced, with the market trading near overbought levels. While [...]

Daily Market Report | 07/28/2023 US FINANCIAL MARKET Stock Market Today: Stocks Move Higher as Big Tech Climbs - Wall Street Journal, 7/28/2023 U.S. stock indexes rose Friday, lifted by tech shares, as blue-chip earnings and fresh inflation data rolled in. The Nasdaq Composite added more than 1.5%. The S&P 500 and Dow industrials also rose. The Dow on Thursday snapped a 13-day winning streak, its longest since 1987. Big tech stocks, including Alphabet and Meta Platforms, powered ahead. Big tech shares were among the day's leading gainers. The S&P 500's communications services sector [...]

Daily Market Report | 07/27/2023 US FINANCIAL MARKET Nasdaq 100 Up 1% as GDP Fuels ‘Soft Landing’ Calls: Markets Wrap - Bloomberg, 7/27/2023 Stocks rose as data signaled the world’s largest economy remains strong despite the Federal Reserve’s aggressive tightening campaign, bolstering the case for a so-called soft landing. Major equity benchmarks gained as a report showed gross domestic product unexpectedly picked up steam in the second quarter, while US pending home sales unexpectedly rose in June. The S&P 500 rose 0.5%. The Nasdaq 100 rose 1.1%. The Dow Jones Industrial Average rose 0.2%. [...]

Daily Market Report | 07/26/2023 US FINANCIAL MARKET Stocks Lose Steam Just a Few Hours Away From Fed: Markets Wrap - Bloomberg, 7/26/2023 Wall Street traders bracing for a Federal Reserve rate hike on Wednesday sent stocks lower on speculation Jerome Powell will signal another increase this year isn’t entirely off the cards. The S&P 500 fell 0.3%. The Nasdaq 100 fell 0.9%. The Dow Jones Industrial Average was little changed. After a widely expected 25-basis-point boost in July, the swap market is currently projecting a 52% chance of a move of that same [...]

Daily Market Report | 07/25/2023 US FINANCIAL MARKET US Stocks Muted, Bonds Under Pressure After Data: Markets Wrap - Bloomberg, 7/25/2023 US stock trading was muted as traders awaited earnings from technology megacaps and Wednesday’s Federal Reserve decision. The S&P 500 fluctuated, while the tech-heavy Nasdaq 100 outperformed as Microsoft and Alphabet were due to report their results. Shares in both companies rose as investors waited to see if the results justify the companies’ hefty year-to-date share gains. The S&P 500 rose 0.1%. The Nasdaq 100 rose 0.7%. The Dow Jones Industrial Average was [...]

Daily Market Report | 07/24/2023 US FINANCIAL MARKET Global Bonds Advance After Weak European Data: Markets Wrap - Bloomberg, 7/24/2023 Global bonds climbed and stocks posted small gains Monday, as sharp declines in manufacturing and services gauges across Europe fanned concerns about economic growth. Investors were wary of making big equity bets at the start of a week packed with major central bank policy decisions and corporate earnings. Global bonds climbed and stocks posted small moves Monday after weak economic data in both the US and Europe fueled concern about a global slowdown. US [...]

Daily Market Report | 07/21/2023 US FINANCIAL MARKETTech Stocks Pare Rebound; Treasuries Rise: Markets Wrap – Bloomberg, 7/21/2023Technology shares eased back from a potential rebound on Friday while Treasuries rose and the yen weakened on speculation the Bank of Japan won’t make any changes to its yield curve control program.The S&P 500 and tech-heavy Nasdaq 100 were little changed after earlier gains attempting to claw back losses in the previous session on disappointing results from Tesla and Netflix.The yield on 10-year Treasuries declined three basis points to 3.82%.American Express fell 4.2% after missing revenue forecasts.Meanwhile, the yen [...]

Daily Market Report | 07/20/2023 US FINANCIAL MARKET Nasdaq 100 Slumps as Netflix Dulls Tech Shine: Markets Wrap - Bloomberg, 7/20/2023 US equities and Treasuries fell Thursday as investors digested a round of disappointing tech earnings and a spike in commodity prices including wheat. The tech-heavy Nasdaq 100 fell 0.6%, with Netflix set for its biggest intraday decline since December after missing sales estimates and issuing a disappointing revenue forecast. The S&P 500 fell 0.2%. The Dow Jones Industrial Average rose 0.3%. Tesla slid after profitability shrank in the second quarter, a sign the [...]