dowjones
Stock investors who followed the popular ‘sell in May and go away’ mantra are suffering significant losses as the market has continued surging ahead. The Dow Jones index has rallied by over 6% since May 1st while the Nasdaq 100 and S&P 500 indices have jumped by over 10%. These indices have erased all the losses they made earlier this month when the fear of the unwinding of the Japanese yen carry trade escalated. The Dow Jones is a few points below its all-time high of $41,418 while the S&P 500 needs to rise by 2.32% to get to its all-time high of $5,668. The sell in May and go away mantra has...
Invezz
US stocks faced significant selling pressure Thursday afternoon, driven by disappointing economic data and a sharp decline in chip stocks. This led to losses across all three major indexes, following the Federal Reserve’s indication of a likely rate cut in September. The S&P 500 declined nearly 1.5%, and the Nasdaq Composite reversed its earlier gains, falling almost 2.5% after a strong close on Wednesday. The Dow Jones Industrial Average saw a drop of nearly 600 points, or 1.4%. If this trend continues, it could mark the worst day of the year for the market. Entering the week, investors were ...
Invezz
Hong Kong’s Foreign Correspondents’ Club (FCC) has said it was “deeply concerned” to learn that the head of the Hong Kong Journalists Association Selina Cheng had been fired by American newspaper The Wall Street Journal, weeks after being elected as chair of the city’s largest press union. “The FCC has reached out to The Wall Street Journal for comment and to ask why Ms Cheng’s employment was terminated,” the foreign press club said in a statement issued on Thursday morning. “We urge The Wall Street Journal and all news organisations to respect reporters’ rights to join press clubs and to advo...
Hong Kong Free Press
ValueWalk
In hisDaily Market Notes report to investors, Louis Navellier wrote: Stocks grind higher, interest rates softer, gold breaks above $2,000, crude higher. Dow Catching UpAnother big week of earnings, with Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) on Thursday. Earnings have not disappointed overall and allowed the market to book further gains in July. The S&P is up over 3% for the month and may hit +20% YTD. The NASDAQ is up almost 4% for the month, 38% YTD. QQQ is up 3.8% in July, 45% YTD. The Dow has been playing a rapid game of catchup this month with its 13-day positive run and is up 3.1% ...
ValueWalk
Weekly jobless claims fell short of the 220,000 Dow Jones estimate and are down 15,000 from the previous week. The result means that the U.S. job market is tightening and represents the lowest number since the beginning of this year. Weekly Jobless Claims DropAs reported by CNBC, the job market is edging closer to full employment —amid a 3.8% jobless rate— as new filings for unemployment insurance hit 214,000 for the week ended March 12. Q4 2021 hedge fund letters, conferences and more “The four-week moving average, which accounts for weekly volatility in the numbers, also declined, falling 8,...
ValueWalk
Stock futures bounced back in Monday’s early morning trading after Friday’s sell-off, while investors are monitoring the latest information on Covid’s omicron variant. After recording the worst day since October 2020, the Dow gained 0.6% while Nasdaq Composite and the S&P 500 also jumped back up. Q3 2021 hedge fund letters, conferences and more Stock FuturesAs reported by CNBC, last week was a torrid one for stocks as the world came to grips with the existence of the omicron Covid strain, which was categorized as a “variant of concern” by the World Health Organization (WHO). On Friday, the Dow...
ValueWalk
The new Covid variant found in South Africa has spread fears across U.S. stock futures which plunged 817 points, equivalent to 2.3% on Friday –when markets will close at 1 p.m. ET due to the Thanksgiving holiday. Nasdaq 100 and S&P 500 futures were down 1% and 1.8% respectively. Q3 2021 hedge fund letters, conferences and more New Covid VariantAs reported by CNBC, the new COVID-19 variant found in South Africa is rocking the stock market, as Germany, the U.K. Italy and Singapore have set out to suspend flights from six African countries: Zimbabwe, Botswana, South Africa, Namibia, Lesotho, and ...
ValueWalk
Stocks broke above their consolidation yesterday. Is this an upward reversal or just another upward correction? The NFP release leaves question marks. Q3 2021 hedge fund letters, conferences and more The S&P 500 index gained 0.83% on Thursday following breaking above the recent local highs and the 4,400 price level. The market retraced most of its late September’s decline yesterday as investors awaited today’s monthly jobs data release, among other factors. The Nonfarm Payrolls release has been worse than expected at +194,000. However, the main indices are expected to open 0.1-0.5% higher this...
ValueWalk
Stocks extended their consolidation yesterday as the index gained over 1%. But today it is expected to open lower again. Is this a bottoming pattern? Q3 2021 hedge fund letters, conferences and more The S&P 500 index gained 1.05% on Tuesday, as it bounced from the 4,300 level again. For now, it looks like a consolidation following a month-long decline. The market will be waiting for Friday’s Nonfarm Payrolls number release and the coming quarterly corporate earnings season. Today’s ADP Non-Farm Employment Change release has been better than expected at +568,000, but it only brought more uncert...
ValueWalk
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