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BREAKING: Former President Trump 'Fine,' Rushed off Stage After Apparent Gunfire at Rally
BREAKING: Former President Trump Rushed off Stage After Apparent Gunfire at Rally
Expansion of coverage of rising US stocks could lead to bleeding of colossal funds that track the index.
For many active fund managers and macro longs, a long-awaited widespread stock market surge would be good news. However, investors who have invested heavily in index-tracking tools year after year may be hurt. Taking Thursday as an example. With a new round of bets on Fed Chairman Powell's rate cuts, sector rotation began to heat up under the rising risk appetite, and the stock market was in turmoil. Small-cap stocks, value stocks, and bearish target stocks all rose, and nearly 400 S&P 500 index stocks recorded gains. However, the index itself fell that day because of the technology giants - the sector that will lead the market to rise in 2024.
Another good news? US Michigan consumer confidence hit an eight-month low in July, with both short- and long-term inflation expectations falling.
Although people's long and short-term inflation expectations have fallen back, the University of Michigan's Consumer Sentiment Index in the United States in July still hit an eight-month low, with sub-indices falling below expectations. Consumers are still very frustrated with continued high prices, and their views on current and future financial conditions have deteriorated to the lowest level since October last year.
Top 20 turnover | Tesla rose and fell, closing up nearly 3%; Wells Fargo & Co. fell more than 6%, with net interest income below expectations.
On Friday, Tesla ranked first in the trading volume of US stocks, closing up 2.99% with a turnover of $38.54 billion; Nvidia ranked second, closing up 1.44% with a turnover of $32.817 billion; Apple ranked third, closing up 1.31% with a turnover of $12.257 billion.
Stocks Close in the Green as Latest Economic Data Boosts Rate Cut Expectations for September | Wall Street Today
Stocks closed higher, with new economic data strengthening expectations for a Federal Reserve rate cut in September.
Dow Hits All Time High Friday, While Consumer Confidence Lowered
As a general recap, the market was advancing, and the S&P 500 and Nasdaq climbed higher after a one-day pullback. Shortly after 10:20 am EST, the $S&P 500 Index(.SPX.US)$ climbed 0.51%, the &