Taking a beating
The S&P 500 on Friday notched a three week losing streak for the first time since mid April. The Nasdaq, suffered an even steeper weekly decline and has ended up in correction territory. A combination of disappointing quarterly reports from members of the...
A correction in motion
The S&P 500 on Friday ended a wild week nearly 1% lower, primarily due to a continued selloff in technology stocks. The technology sector has now slumped more than 7% in two weeks. Meanwhile, the rotation trade has continued, with the small caps, up more than 3%....
The Market unwind has begun
Wall Street posted its worst week since mid April, as a rotation out of technology stocks sparked by last Thursday's consumer inflation report continued over the past few days. The primary driver of this week's loss in the S&P 500 was a continued rotation out of...
The Rate Cut is Here
The S&P 500 index posted a two week win streak on Friday. Its torrid run has seen it notching gains in 10 out of 12 weeks dating back to the end of April. Remarks by Federal Reserve chair Jerome Powell on Capitol Hill hinting at interest rate cuts, along with a...
The big slowdown
The S&P 500 kicked off the second half of 2024 with its best weekly performance since late April. The advance was driven by labor market data that has supported the case for Federal Reserve interest rate cuts. The S&P is now within striking distance of the...
Is it time to rotate?
The S&P 500, on Friday, snapped a three week win streak, but the bigger story was the benchmark index closing out the first six months of 2024 with a whopping 14.5% advance. The stellar H1 2024 performance that saw the S&P go on a record breaking spree was...
Pay day from Wall Street
The S&P 500 posted a three week win streak on Friday, though Wall Street's bull market stalled on Thursday and Friday. The biggest highlight of the week was chipmaker Nvidia becoming the world's largest publicly listed firm by market capitalization. For the week,...
Sticking with the plan
The S&P 500 on Friday notched its best weekly advance in over a month, primarily on the back of surprisingly soft inflation data. The headline consumer price index for May came in flat in what was its first unchanged reading since July 2022. The consumer inflation...
When good news is bad news
Stock indexes fell slightly on Friday but still finished higher for the week after U.S. payrolls rose much more than expected in May, dimming hopes for interest rate cuts any time soon. Employers added 272,000 new jobs, while average hourly earnings over the past 12...