S&P 500 Index Resumes Upside After Yesterday’s Retreat

Posted on October 2, 2024 by Skerdian Meta

Today US indices such as the S&P 500 turned higher again, resuming the upside momentum after Tuesday’s retreat on risk aversion. The risk sentiment improved somewhat in the US session, which sent US stocks higher, while the main European stock indices closed mostly lower.

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Nasdaq Ends 1.5% Down on Higher JOLTS and ME Tensions

Posted on October 1, 2024 by Skerdian Meta

Market movements today were driven by geopolitical tensions rather than economic data, which sent most stocks lower, with Nasdaq ending 1.50% down. An Iranian missile strike on Israel led to a decline in risk assets and a surge in safe havens. However, crude oil prices benefited from the incident as markets feared potential damage to Iran’s oil infrastructure following Israel’s warning of retaliation.

US stock markets ended up mostly in red today

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S&P 500 Closes at Record Highs Once Again Despite Hawkish Powell

Posted on September 30, 2024 by Skerdian Meta

Stock markets continue to display strong bullish momentum, with the S&P 500 reaching a new record high today here it closed the day. During the US session, we saw a dip in stock prices after Jerome Powell’s less dovish comments and the pushback on another 50 bps rate cut by the FED, but the buying picked up again and the SPX index closed at record highs. Continue reading “S&P 500 Closes at Record Highs Once Again Despite Hawkish Powell” →

Dow Jones Dips, Nasdaq Higher on Tech Stock Resilience

Posted on September 26, 2024 by Skerdian Meta

The stock market’s bullish momentum has slowed, with the Dow Jones declining after four consecutive record-setting days. This dip signals fatigue in the market, even as the S&P 500 consolidated its gains following new highs set yesterday. In contrast, the Nasdaq continued to rise, bolstered by strong performance in the tech sector, particularly from Nvidia. Continue reading “Dow Jones Dips, Nasdaq Higher on Tech Stock Resilience” →

Keep Your Stock Longs, As Dow Jones and S&P 500 Print New Highs

Posted on September 24, 2024September 24, 2024 by Skerdian Meta

The stock market’s upward momentum shows no signs of slowing down. Both the Dow Jones and S&P 500 hit new record highs yesterday and continued to climb today, though the increases were modest. The Dow closed at 42,261.44 points, while the S&P 500 settled at 5,746.75 points. Despite global economic challenges, the overall market sentiment remains cautiously optimistic, driven by expectations that central banks will continue to ease monetary policies.

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New Record High in Dow Jones, S&P 500 Follows

Posted on September 23, 2024 by Skerdian Meta

Another week, another record high for stock markets, with Dow Jones touching before closing at 42,124 points, with the S&P 500 also closing near last week’s highs. Gold in particular which is a safe haven has also been making new record highs as the demand grows, so it seems a bit unrealistic, but it is happening. Continue reading “New Record High in Dow Jones, S&P 500 Follows” →

Forex Signals Brief September 23: RBA, SNB and US PCE Inflation

Posted on September 23, 2024September 22, 2024 by Skerdian Meta

This week we have two more central bank meetings, as well as the US PCE inflation report, however the attention last week centered on the FOMC decision. During the first half of the week, the forex market was mixed as odds between a 25 bps cut and a 50 bps cut were balanced, however, we saw a temporary improvement for the USD, after the positive US retail sales numbers for August, which showed that the US consumer is not faltering.

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FED Rate Cut Helps Gold and Stocks Reach Record Highs

Posted on September 22, 2024September 20, 2024 by Skerdian Meta

Gold extended its rally this week, with XAU/USD breaking above $2,600, hitting a new milestone following the Federal Reserve’s 50 basis point rate cut on Wednesday. By Friday, gold prices climbed to $2,625.69, driven by a combination of global interest rate reductions, a weaker US dollar, and rising geopolitical risks.

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Forex Signals Brief Sept 20: BOJ Meeting, UK, Canada Retail Sales

Posted on September 20, 2024September 20, 2024 by Skerdian Meta

After the initial shock of the Fed’s unexpected 50 basis point rate cut, market sentiment shifted dramatically within 24 hours. Equities opened strong and maintained momentum as investors embraced a risk-on mood. However, the forex market responded more cautiously. The Fed’s dovish stance reduced concerns about a recession but increased worries over a higher terminal rate or potential inflation, impacting long-term bond yields. Continue reading “Forex Signals Brief Sept 20: BOJ Meeting, UK, Canada Retail Sales” →

Another Record High for S&P 500, Dow Jones on Foreign Buying

Posted on September 19, 2024September 19, 2024 by Skerdian Meta

The bullish momentum in the stock market continues, with another strong performance from major indices. The S&P 500 surged by 2% at one point, adding 114 points to reach 5,732, while the Nasdaq climbed 3% during the session before closing the day 2.5% higher, driven by a strong rally in tech stocks.

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