[Chart courtesy of MarketWatch.com] After yesterday’s comeback session, bullish sentiment persisted in the markets as traders attempted to recover some of the recent losses. However, the bears ultimately took control, causing major indexes to reverse and close in the red. The Dow experienced its worst five-day start to a month in six years. The tech sector failed to maintain its …
Equities Rebound After Intense Selling Pressure: Is The Downturn Over?
[Chart courtesy of MarketWatch.com] After the intense selling pressure during the first three trading days of August, which drove the S&P 500 down by over 6%, equities rebounded today, recovering some of their losses. Whether this marks the end of the downturn or is merely a relief bounce remains uncertain. The tech sector also saw a recovery, with major players …
Nikkei’s Worst Day Since 1987 Sparks Worldwide Market Turmoil
[Chart courtesy of MarketWatch.com] Last week’s selloff spread globally and accelerated this morning as traders grappled with fears of a U.S. recession. The downturn began in Japan, where the Nikkei plummeted over 12%, marking its worst day since the 1987 Black Monday crash. Contributing to the turmoil was Japan’s recent decision to hike interest rates, which disrupted the highly leveraged …
ETF Tracker Newsletter For August 2, 2024
ETF Tracker StatSheet You can view the latest version here. STOCK MARKET FACES TURBULENCE: IS A RECESSION ON THE HORIZON? [Chart courtesy of MarketWatch.com] The markets suffered a significant downturn this morning, driven by a weaker-than-expected July jobs report that dampened any bullish sentiment. Nonfarm payroll jobs increased by only 114,000 last month, a sharp decline from the 179,000 …
Weak Economic Data Sparks Market Downturn, Nasdaq Drops 2.3%
[Chart courtesy of MarketWatch.com] The markets faced a significant downturn today, as weak economic data erased an early rally. Major indexes dipped into the red, with the Nasdaq dropping 2.3%, effectively wiping out most of yesterday’s gains. Initial jobless claims surged to 249,000 for the week ending July 27, surpassing the estimated 235,000. Additionally, the ISM manufacturing index, which reflects …
Tech Titans Lead Nasdaq Rally Amid Earnings Surprises
[Chart courtesy of MarketWatch.com] The tech sector saw a significant boost, led by Advanced Micro Devices (AMD), which lifted the Nasdaq to an impressive gain after surpassing second-quarter expectations. Nvidia followed suit, achieving its largest single-day gain ever at 12%. Meanwhile, Microsoft experienced a decline due to underwhelming cloud business performance but managed to recover by the close of trading. …