[Chart courtesy of MarketWatch.com] The markets began the second day of October in negative territory, driven by escalating tensions in the Middle East. Despite this, the markets closed relatively unchanged, with China’s recent upward trend continuing, bolstered by their substantial stimulus program. Nike experienced a significant 7% drop after canceling its full-year guidance ahead of a new CEO’s arrival. Meanwhile, …
Gold Shines As Safe Haven Amid Market Turmoil
[Chart courtesy of MarketWatch.com] Escalating tensions in the Middle East have significantly dampened upward momentum, pulling the indexes down from their lofty levels. Wall Street’s “fear gauge,” the volatility index (VIX), spiked sharply, reflecting traders’ concerns. Historically, fears of contagion have a destabilizing effect on the markets. Early in the day, bond yields plummeted, benefiting gold and utilities. As expected, …
Markets Rebound After Powell’s Speech, Ending Month On A High Note
[Chart courtesy of MarketWatch.com] The markets experienced a downturn early on the final day of the month. However, sentiment shifted positively following a speech by Federal Reserve Chairman Powell just before the session’s close, leading to a green finish for the major indexes. August and September began with heightened volatility, but bullish sentiment ultimately prevailed. The S&P 500 closed the …
ETF Tracker Newsletter For September 27, 2024
ETF Tracker StatSheet You can view the latest version here. DOLLAR DECLINES, GOLD AND BITCOIN RALLY AMID GLOBAL MARKET VOLATILITY [Chart courtesy of MarketWatch.com] The latest inflation report bolstered the optimistic outlook, suggesting that economic conditions were not as dire as anticipated. This pushed the major indexes higher, with all three concluding the week in the green. However, only …
Central Banks Follow Fed’s Lead With Stimulative Measures
[Chart courtesy of MarketWatch.com] A series of positive data points helped ease traders’ fears that the Fed’s aggressive 0.5% interest rate cut might have been prompted by a slowing economy. This had a positive impact on the major indexes. While the debate about the Fed’s actions continues, today’s sentiment favored the bulls. Initial weekly jobless claims fell, indicating a positive …
Indexes Poised For Positive September Finish Despite Volatility
[Chart courtesy of MarketWatch.com] The major indexes began the session without clear direction, hovering around their unchanged lines. However, they seem poised for a positive finish to this volatile month of September. Stock performance was mixed. Hewlett Packard rose over 4% following an upgrade, while Germany’s SAP fell more than 2%, and General Motors dropped nearly 6% after a downgrade. …