[Chart courtesy of MarketWatch.com] The latest CPI report sent stocks higher and bond yields lower, as the index was unchanged for May vs. an expected 0.1% monthly rise. Year-over-year, the increase was 3.3%, which was also lower than the anticipated 3.4%. Even the Fed’s favorite gauge, the core CPI, which excludes volatile components like energy and food, was in line …
Investors Eye CPI Reading And Fed’s Rate Verdict Amidst Tech Stock Surge
[Chart courtesy of MarketWatch.com] The major indexes started the session in the red, with only the S&P and Nasdaq being able to climb out of that early hole and close in the green, as buying picked up late in the session. The Fed started its 2-day meeting on interest rates today with the verdict being announced Wednesday after 11 am …
Gold And Bitcoin Rebound, Oil Surges Amidst Market Uncertainty Ahead Of CPI Release And Fed’s Rate Verdict
[Chart courtesy of MarketWatch.com] With the much-anticipated jobs report out of the way, but Wall Street still pondering its implications, the new focus is on the Fed’s interest rate decision and last month’s inflation data. Both are due out Wednesday with the CPI potentially being a crucial point for market direction. Especially, after Friday’s allegedly strong jobs report, the Fed …
Wall Street Waits With Bated Breath: May Jobs Report To Set Fed’s Course?
[Chart courtesy of MarketWatch.com] The markets predominantly trod water after the S&P’s fresh record close, with traders’ eyes now focused on tomorrow’s jobs report. Friday’s non-farm payrolls report for May will be analyzed carefully, because any weakness in the labor force will freshen hopes that the Fed might indeed cut rates. Expectations are for 190k in new jobs created. Optimism …
Nvidia Hits New Record And Surpasses $3 Trillion Market Cap, Igniting Bullish Sentiment
[Chart courtesy of MarketWatch.com] Nvidia’s jump to a new record, while conquering the $3 trillion market cap, sparked bullish sentiment, at least in the Dow and S&P 500, both of which headed higher right after the opening bell. The latter scored a new all-time high late in the session, as the 10-year yield slipped to 4.29%. With traders looking everywhere …
Market Volatility Intensifies As Bulls And Bears Battle For Control
[Chart courtesy of MarketWatch.com] The major indexes continued their efforts to overcome a listless start to June, and they started this session by being stuck to their unchanged lines, until a last hour surge pushed them to a green close. On the economic side, employment data from the Labor Department showed some 8 million job openings in April vs. …