[Chart courtesy of MarketWatch.com] The major indexes edged higher Monday, boosted by gains in the tech sector, as the Dow attempted to build on its rally above the key 40,000 level. That effort failed at midday, and the index closed below that milestone. Traders are eagerly awaiting Nvidia’s quarterly results due out Wednesday to better evaluate not only the strength of the …
ETF Tracker Newsletter For May 17, 2024
ETF Tracker StatSheet You can view the latest version here. FED’S DILEMMA: CAUGHT BETWEEN ROCK AND HARD PLACE [Chart courtesy of MarketWatch.com] The Dow meandered near the flat line today, after the index briefly topped the key 40,000 level for the first time in the previous session. A last hour drive by the algos pushed 2 of the 3 majors back …
Market Momentum Falters: Fed Grapples With Rate Decisions As Inflation Persists
[Chart courtesy of MarketWatch.com] The major indexes inched higher early in, with the Dow conquering the milestone level of 40,000, a once thought to be an impenetrable level. In the end, momentum waned, and the majors closed off the highs. The Dow’s progression toward 40,000 comes as unyielding belief of interest rate cuts and enthusiasm around artificial intelligence boosted investor …
Gold Outshines S&P’s Gains Despite Positive CPI Outlook
[Chart courtesy of MarketWatch.com] The much-awaited CPI report pushed the S&P 500 and Nasdaq to record highs, as this crucial number turned out to be better than expected. The index rose 0.3% for the month of April, which was less than the estimate for a 0.4% monthly increase. The indicator changed by +3.4% year over year, in line with expectations. Monthly …
Fed’s Tightrope Walk Amid Inflation: Market Optimism Holds Strong
[Chart courtesy of MarketWatch.com] Today’s stock market narrative unfolded with a twist, as traders grappled with the implications of April’s Producer Price Index (PPI) report. The PPI, a barometer of inflation at the wholesale level, rose unexpectedly, signaling that inflationary pressures might not be subsiding as hoped. This revelation initially sent a shiver through the markets, but the initial shock …
Market’s Mixed Moves: Eyes On CPI And PPI For Economic Clues
[Chart courtesy of MarketWatch.com] The stock market began with a surge of activity, with indices initially climbing before the momentum waned, leading to a plateau where the major indexes closed nearly flat. The Nasdaq stood out, managing to secure a modest gain amidst the general standstill. This pattern of fluctuation reflects the market’s current state of uncertainty, particularly considering the …