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S&P 500 Index Newsroom
Market Rebound Uncertain Amid Weak Consumer Spending
Wall Street News Breakfast FM-Radio | August 9, 2024
Understand the global market in five minutes, all in a financial breakfast.
S&P rises over 2%, the best in nearly two years, with chip stocks up about 7%, Nasdaq and Chinese stocks up 2.8%, and US Treasury yields and the yen falling for three consecutive days.
The latest employment data alleviates concerns over the US economy, and US stocks rose more than 1.7%. Nvidia's stock rose more than 6%, and Tesla, Alibaba, PDD Holdings, and Tencent ADR rose more than 3%. Bullish on weight loss drug reports, Eli Lilly and Co's stock rose more than 13%, and Novo-Nordisk A/S's US stock rose nearly 8%. The 10-year US Treasury yield rose above 4%, and short-term bond yields rose by 10 basis points. Oil prices rose for the third consecutive day, gold halted its five-day decline, and digital currency had a big increase.
Emerging markets stock market continues to suffer from bleeding, Vanguard etf has experienced the longest withdrawal since the outbreak.
As of this Wednesday, the largest investment in individual stocks, Taiwan Semiconductor, has seen continuous net outflows of funds for 10 trading days for the Vanguard Emerging Markets ETF (VWO), with investors withdrawing a total of 2.12 billion US dollars. However, analysts have been raising profit expectations for MSCI Emerging Markets Index component stocks for nine consecutive weeks.
Jpmorgan: If there is no urgency for the Federal Reserve to relax monetary policy, US stocks still face risks.
JPMorgan's newly appointed market strategy director stated that the US stock market is no longer a one-sided upward trend, but rather a growing number of two-sided trends. The recent rotation of stocks appears to be closing out cycles rather than the beginning of trend-selling over the entire cycle. Kolanovic was JPMorgan's former market strategy director who left in July. An analysis article by Wall Street News pointed out that his departure might not be good news for the US stock market.
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Japan's Nikkei 225 And The US S&P 500 Index Weathered Unprecedented Volatility With A Surprising 3% Rebound
Retail Investors Haven't Been This Pessimistic in Nine Months, AAII Survey Finds
Stock Market Likely to Retest Lows in 4-Step Recovery Process, History Suggests
Traders Brace for Volatility and Shift from 0DTE Options Ahead of Jobless Claims Report
US Morning News Call | Traders Expect More S&P 500 Volatility After Jobless Claims
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Goldman Sachs: Worst market sell-off may be over but caution still needed.
Tony Pasquariello, head of Goldman Sachs' global hedge fund business, said that after a turbulent week in global markets, the worst of the sell-off may be over, but investors need to "exercise caution in directional bets."
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Long-Term Drivers of FX Markets