[Chart courtesy of MarketWatch.com] The Fed gave the markets a big gift by signaling that it will slash rates more than expected next year. The central bank kept the key interest rate unchanged for now, but projected three cuts in 2024, as inflation has cooled down from its recent highs. This was music to the ears of investors, who have …
Wall Street Rises Ahead Of Fed Decision, Shrugs Off Inflation Data
[Chart courtesy of MarketWatch.com] Wall Street shrugged off another inflation report and pushed the major indexes higher, after a sluggish start. Traders are waiting for the Fed’s decision on monetary policy, which could affect the pace of the economic recovery. The consumer price index, which measures the cost of living, rose 3.1% from a year ago and 0.1% from October. …
Fed Rate Cut Hopes Lift S&P 500; Bitcoin Battered By Warren
[Chart courtesy of MarketWatch.com] The S&P 500 ended higher on Monday, after a choppy session, as investors waited for the final Federal Reserve meeting of 2023. The big question is: when will the Fed start to lower interest rates? The Fed is likely to keep the fed funds rate unchanged in the 5.25%-5.5% range. But Chair Jerome Powell may also …
ETF Tracker Newsletter For December 8, 2023
ETF Tracker StatSheet You can view the latest version here. THE ECONOMY IS JUST RIGHT, BUT WILL IT LAST? [Chart courtesy of MarketWatch.com] The stock market had a good day after two reports showed that the economy is doing well but not too well. The November jobs report and the University of Michigan consumer survey both indicated that the …
Alphabet’s New AI Lifts S&P 500; Currency Market Sees Wild Swings Before Jobs Report
[Chart courtesy of MarketWatch.com] The S&P 500 bounced back from a three-day slump and closed higher on Thursday, as investors awaited the crucial jobs report on Friday. Google-parent Alphabet led the gains with a 5% jump, thanks to its new Gemini AI model that promises to revolutionize search and advertising. Chipmakers Nvidia and AMD also rose by 1% and 5%, …
Market Fizzles Out As Economic Data Sends Mixed Signals
[Chart courtesy of MarketWatch.com] The stock market had a roller-coaster ride on Wednesday, as investors weighed the mixed signals from the latest economic data. On one hand, inflation seemed to be cooling, as labor costs fell, and productivity rose more than expected. On the other hand, the job market showed signs of slowing down, as private payrolls grew less than …