[Chart courtesy of MarketWatch.com] The new year started with a sour note for stocks, as they continued their downward slide from the end of 2023. Rising interest rates and profit-taking after a stellar 2023 weighed on the market, especially the Nasdaq, which suffered its worst drop in more than two months. Apple was among the biggest losers, as Barclays cut …
S&P 500 Inches Closer To New Peak, But Correction Fears Grow
[Chart courtesy of MarketWatch.com] The S&P 500 barely budged today, but it was enough to inch closer to a new record high. Wall Street is hoping to end 2023 with a bang, after a stellar fourth quarter that erased the losses of the previous one. The S&P is up 11.7% for the quarter, its best performance in three years, and …
Stocks Flat, Dollar Sinks, Gold Shines: A Tale Of Two Markets
[Chart courtesy of MarketWatch.com] The major indexes barely budged from their flat lines, as the S&P 500 flirted with its all-time high and missed it by a hair. Traders were itching to see a new record, but they knew it could be followed by a cold shower or a retreat. Stocks were enjoying the “Santa Claus rally,” a festive period …
Inflation Fears Ease, Boosting Stocks And Gold In Final Week Of The Year
[Chart courtesy of MarketWatch.com] The stock market kept up its momentum from last week and kicked off the final week of the year with a bang. The S&P 500 edged closer to its all-time high, as investors shrugged off the holiday blues and low trading volume. The upbeat mood was fueled by signs of easing inflation, which is getting closer …
The Goldilocks Scenario: Why Wall Street Is Cheering For A Weak Economy And A Dovish Fed
[Chart courtesy of MarketWatch.com] The markets bounced back from yesterday’s beating and regained most of their ground. Traders are feeling optimistic about the yearend rally and ready to pop the champagne. Almost every stock in the S&P rose, led by Micron Technology, which soared 9% after smashing earnings estimates and raising its outlook. The bulls were also encouraged by weak …
VIX Tricks: Is The Volatility Index Warning Of More Turmoil?
[Chart courtesy of MarketWatch.com] The markets have been soaring to dizzying heights lately, but today they came back down to earth a bit. Some traders decided to take some profits off the table after a long winning streak. This is normal and healthy for a bull market, and it doesn’t mean that the fundamentals have changed. One of the biggest …