[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 …
Markets Plunge Again As Early Gains Fade; September Volatility Looms
[Chart courtesy of MarketWatch.com] The major indexes began the session fluctuating around their respective unchanged lines with a slightly positive bias. Tech giant Nvidia managed to temporarily recover some of yesterday’s sharp losses, which marked the worst performance for equities since August 5th. However, early bullish enthusiasm faded, leading the markets to another red close. Dropping bond yields failed to …
Manufacturing Woes Trigger Market Plunge; Stagflation Fears Rise
[Chart courtesy of MarketWatch.com] Concerns about a slowing economy pulled the markets down from their lofty levels right after the opening bell. The tech sector led the decline, with Nvidia’s 10% drop providing no reason for traders to be bullish. Unsurprisingly, other semiconductor stocks followed suit and declined as well. The S&P 500’s 2.1% plunge marked its worst performance since …
ETF Tracker Newsletter For August 30, 2024
ETF Tracker StatSheet You can view the latest version here. GOLD SHINES AMID MARKET VOLATILITY, REACHES NEW ALL-TIME HIGH [Chart courtesy of MarketWatch.com] The volatility that marked the beginning of August subsided, allowing bullish sentiment to prevail as we closed out the month. Despite an initial drop of over 7%, the S&P 500 rebounded, achieving its fourth consecutive winning …
Market Sentiment Shifts: Bullish Optimism Fades Amid Mixed Economic Signals
[Chart courtesy of MarketWatch.com] Despite Nvidia exceeding earnings expectations and raising its outlook, the stock pulled back in after-hours trading yesterday and is down nearly 5% this morning. This decline might have dragged the markets lower, but it didn’t, thanks to falling jobless claims and an unexpected upward revision of the second quarter GDP growth from 2.8% to 3%. This …
Nvidia Earnings Anticipation Sparks Market Selloff: What’s Next?
[Chart courtesy of MarketWatch.com] Anxiety surrounding Nvidia’s earnings announcement, set to be released after today’s close, initially kept equities in a tight trading range but ultimately led to a selloff. Traders are rightfully questioning how much more upside potential can be realistically expected after Nvidia’s impressive 159% surge in 2024. Despite this, optimism remains as analysts focus on the company’s …