Benchmarks ended in the red zone, dragged down by declines in momentum and bio-tech stocks. The day’s initial gains, largely a result of encouraging monthly jobs data, were eroded by the end of the trading session. The S&P 500 and Dow ended in the negative territory after reaching intraday all-time highs. Also, selling pressure in technology stocks dragged the Nasdaq […]
Benchmarks ended lower on Thursday as investors feared sooner-than-expected rate hikes. Incidentally, the concerns emerged after the day’s mixed economic reports on fourth quarter GDP and weekly unemployment benefits. Declines in financial and technology stocks also dragged the markets lower. Eventually, the S&P 500 fell below the key technical level of 1,850 and the Nasdaq dropped to its lowest […]
Drivers of Consumer Demand
Are we headed for another 2000 or 2007 type correction? While we do not expect a selloff of that magnitude, we are concerned that the stock market has gotten ahead of the economic fundamentals. Last year, S&P 500 went up by over 30%, while the U.S. GDP only grew by 1.9% in real terms. We expect the […]
Benchmarks rallied on Thursday after encouraging economic numbers boosted investors sentiment. The rise in Philadelphia Fed’s manufacturing index and an increase in Conference Board’s leading economic index was welcomed by investors. Positive economic data overshadowed Wednesday’s negative sentiment arising from Federal Reserve’s indication of a possible hike in key lending rates sooner than expected. At the same time, investors were […]
Rising political tension between Russia and the West over Crimea dragged the benchmarks down to their worst fall in over five weeks. Lingering concerns about a possible slowdown in China also impacted the indices. The S&P 500 fell below a technical level and the year-to-date figure dropped to the red zone. The Dow suffered its fourth straight decline. Encouraging economic […]
Benchmarks ended lower on Tuesday as investors booked profits on a day devoid of major economic developments. Rise in US wholesale inventories and job openings in January provided little excitement to the investors. On top of that, a fall in small business sentiment somewhat damaged the mood. In the retail segment, the deal between Jos A Bank […]
China showed its first trade deficit in the past two years in February, and one of the few deficits since the country began tracking the data. Exports showed an alarming 18.1% year-over-year decline and 45% drop from the prior month. The drop was due to a significant weakening in steel goods shipped to developed economies such as the US and […]
Benchmarks ended Friday’s trading session on a mixed note. The S&P 500 and Dow gained modestly on the back of better-than-expected nonfarm payroll data. These marginal gains were strong enough for the S&P 500 to hit another record high for the second consecutive day. Investors were also kept on the edge by recent developments in the Crimea region; leading to […]
Benchmarks ended Thursday’s trading session on a mixed note. The S&P 500 and Dow ended in the green after the Central Bank of United Kingdom and the European Central Bank kept key lending rates unchanged. Investors also focused on a drop in initial claims. The slight gains helped S&P 500 to move up to another record high; the 50th instance […]
Benchmarks ended higher on Thursday and the S&P 500 closed at a record high after the Federal Reserve Chairwoman Janet Yellen blamed the harsh winter climate for the recent weakness in the economy. Retailer J C Penny and drug maker Mylan’s upbeat earnings reports were welcomed by investors. The […]
