[Chart courtesy of MarketWatch.com] Early in the session, the Dow Jones reached record territory, but the S&P 500 and Nasdaq struggled to maintain their initial bullish momentum, with the Nasdaq slipping below its unchanged line. Traders are eagerly awaiting one of the Federal Reserve’s most anticipated policy meetings, where the likelihood of the first rate cut since 2020 is nearly …
Gold Surges To New High Amid Stagflation Concerns
[Chart courtesy of MarketWatch.com] The major indexes initially opened lower but quickly rebounded, as traders ignored the latest Producer Price Index (PPI) report, which showed a 0.2% increase in wholesale prices for August, aligning with expectations. This followed the previous day’s Consumer Price Index (CPI) report, which indicated a rise in core prices, excluding the volatile energy and food categories. …
Nvidia’s CEO Sparks Market Rebound Amid Inflation Woes
[Chart courtesy of MarketWatch.com] Early trading saw equities take another dive as the latest inflation data wreaked havoc on the markets. However, following this significant downturn, a remarkable intraday recovery pushed the major indexes firmly into the green. This turnaround was largely driven by Nvidia’s CEO, who reassured investors by stating, “the demand for chips is so great, everyone wants …
S&P 500 And Nasdaq End In Green Amid Volatile Trading Session
[Chart courtesy of MarketWatch.com] The markets suffered a tumultuous day, initially edging higher before collapsing precipitously, only to regain their footing and ending with another winning session. Among the three major indexes, only the S&P 500 and Nasdaq managed to close in the green after this roller coaster ride. The tech sector has been struggling, with the XLK ETF losing …
Inflation Data In Focus As Markets Attempt To Recover From Steep Losses
[Chart courtesy of MarketWatch.com] The markets began the session on a positive note, attempting to recover from last week’s steep losses. Although early upward momentum was briefly lost, bullish sentiment soon resumed, leading the major indexes to gain over 1% by the end of the day. In the S&P sectors, technology and communications were the top performers, each advancing by …
Gold Prices Surge As Recession Fears And Lower Bond Yields Persist
[Chart courtesy of MarketWatch.com] After two consecutive losing sessions, the major indexes made a notable comeback, led by the Nasdaq, as traders revived the tech sector from its slump. Early on, bargain hunters took advantage of the dip, but bearish sentiment soon resurfaced, causing the Dow and S&P 500 to close in the red once again. Today’s jobless claims fell …