[Chart courtesy of MarketWatch.com] The markets experienced early volatility due to a sharp drop in the September Consumer Confidence Index, which pressured stocks. However, by the end of the day, the major indexes managed to close moderately higher. The Consumer Confidence Index fell to 98.7, significantly below the revised August reading of 105.6 and marking its lowest level in three …
Economic Indicators And Election Risks Loom Over Market Gains
[Chart courtesy of MarketWatch.com] The markets continued to build on last week’s rally, driven by the Fed’s 0.5% interest rate cut, the first in four years. Initially, the indexes fluctuated, but the S&P 500 managed a weekly gain of 1.4%, while the Dow reached a new all-time high. However, the usual array of economic indicators remains a wildcard, potentially derailing …
ETF Tracker Newsletter For September 20, 2024
ETF Tracker StatSheet You can view the latest version here. GOLD HITS NEW RECORD HIGH, BITCOIN RALLIES TO 1-MONTH HIGHS [Chart courtesy of MarketWatch.com] After yesterday’s significant rally, which followed Wednesday’s sudden midday reversal, the markets cooled off today, entering a consolidation phase due to the largest September option expiration on record. Despite traders’ enthusiasm about the Fed’s aggressive …
Bitcoin And Gold Rally As Stocks Hit Record Highs Amid Fed’s Rate Cut
[Chart courtesy of MarketWatch.com] After yesterday’s Federal Reserve’s policy change, the bulls took charge early, propelling the Dow and S&P 500 to record highs. This surge was bolstered by a report showing weekly jobless claims fell by 12,000 to 219,000, significantly below estimates. The tech sector embraced a “risk-on” mood, with Nvidia and AMD shares soaring around 5% and 4%, …
Fed’s Bold Rate Cut Sparks Market Volatility Amid Inflation Concerns
[Chart courtesy of MarketWatch.com] Ahead of the Federal Reserve’s first interest rate cut in four years, the major indexes showed little change, with the magnitude of the easing remaining a significant unknown. However, after a midday bounce, the major indexes sold off and closed in the red. Historically, the Central Bank has typically signaled its next move to the markets, …
Bitcoin And Oil Prices Rally Amid Market Uncertainty
[Chart courtesy of MarketWatch.com] Better-than-expected retail sales provided an initial boost to the broad markets, while Microsoft’s announcement of a quarterly dividend hike further supported the tech sector. Additionally, Intel’s plans to make its foundry business a subsidiary led to a nearly 4% surge in its stock price. Retail sales reportedly rose by 0.1% in August, a significant divergence from …