Paul Young’s Post

Thursday, August 1st Update: Dow Jones dropped 291 points, or 0.7%, while the S&P 500 dipped 0.2% and the Nasdaq Composite also saw a decline. Initial jobless claims rose to 249,000 for the week ending July 27, which was higher than the expected 235,000 forecasted by Dow Jones. The ISM manufacturing index came in at 46.8, highlighting a slowdown in manufacturing and contributing to the broader picture of a slowing economy. This comes after the Federal Reserve decided to keep interest rates unchanged but hinted at a possible rate cut in September. "The job market has been holding up, although it's slowly weakening, and inflation has been mostly subdued. We expect the markets to rally towards the end of the year and beyond, with some expected volatility around the November election," said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance. Read more here:

LIVE UPDATES Stock Market Today: Dow Falls After Chinese Shares Rally Again Earnings from chip maker Micron are due after the market close Last Updated: Sep. 25, 2024 at 3:34 PM EDT U.S stocks turned weaker Wednesday, erasing some recent gains in the absence of any major new catalyst to keep driving them higher. Blue-chip stocks were having a particularly tough session, with the Dow industrials on track to snap a four-day winning streak. Stocks got a boost last week when the Federal Reserve cut short-term interest rates by half-a-percentage point. Another lift came Tuesday after China’s central bank announced a raft of new stimulus measures. But no such help arrived Wednesday, and all three major indexes were flirting with declines. In recent trading The Dow was firmly in the red, the S&P 500 was slightly lower, and the Nasdaq Composite was hovering around the flatline. Both the Dow and the S&P 500 closed at new record highs on Tuesday. Amgen shares fell, weighing on the Dow, after analysts were underwhelmed by the results of a late-stage study of a drug that would treat a type of eczema. Treasury yields rose, after the 10-year yield settled Tuesday at 3.736%. New home sales fell less than expected in August, according to the Census Bureau. Sales of single-family houses fell to a seasonally-adjusted annual rate of 716,000. Chinese shares extended their rally after China’s central bank delivered another policy rate cut. The Shanghai Composite finished up 1.2%. —By Sam Goldfarb and Caitlin McCabe

U.S. stocks outperformed global markets last week as investors sought stability amid European election turmoil. Tech stocks led the charge, bolstered by a pair of cooling inflation reports. The Nasdaq reached record highs daily, while the S&P 500 also saw solid gains. In contrast, the Russell 2000, the Dow, and the Global Dow all declined. The benchmark 10-year Treasury yield experienced its largest weekly drop of the year. Crude oil prices surged, gold prices rose, and the dollar advanced for the fourth consecutive week.

Stocks were mixed last week as fresh economic data points and election-related uncertainty slowed market momentum. The Standard & Poor’s 500 Index fell 0.96 percent, while the Nasdaq Composite Index rose 0.16 percent. The Dow Jones Industrial Average dropped 2.68 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, slid 2.30 percent.1,2 Nasdaq Leads Stocks were mixed for the first half of the week as investors geared up for a steady stream of Q3 reports. The 10-year Treasury yield continued to trend higher, which caught the attention of some traders. Markets fell Wednesday morning with news that existing home sales fell to a 14-year low in October; still slowed by higher interest rates, sales are on track for their worst year since 1995. Also, pre-election jitters remained an undertow with traders.3,4,5 News that durable goods orders rose in September buoyed sentiment a bit. At Friday’s close, the Nasdaq, fueled by technology names, marked its seventh consecutive week of gains but the S&P 500 broke its 6-week winning streak.6,7 #MarketMonday

Stocks were mixed last week as fresh economic data points and election-related uncertainty slowed market momentum. The Standard & Poor’s 500 Index fell 0.96 percent, while the Nasdaq Composite Index rose 0.16 percent. The Dow Jones Industrial Average dropped 2.68 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, slid 2.30 percent.1,2 Nasdaq Leads Stocks were mixed for the first half of the week as investors geared up for a steady stream of Q3 reports. The 10-year Treasury yield continued to trend higher, which caught the attention of some traders. Markets fell Wednesday morning with news that existing home sales fell to a 14-year low in October; still slowed by higher interest rates, sales are on track for their worst year since 1995. Also, pre-election jitters remained an undertow with traders.3,4,5 News that durable goods orders rose in September buoyed sentiment a bit. At Friday’s close, the Nasdaq, fueled by technology names, marked its seventh consecutive week of gains but the S&P 500 broke its 6-week winning streak.6,7 #MarketMonday

Stocks fell on the last trading day of April to cap a losing month. The stock market’s three major indices performed as follows in April: S&P 500 -4.2% Nasdaq -4.4% The Dow -5% It was the Dow’s worst monthly slide since September 2022, while all three major indices ended five straight months of gains. Disappointing wage data and a new round of inflation fears pressured markets lower in the final day of April. But despite a brutal month for equities, the S&P 500 is still up more than 20% from its recent low as of October 2023.

Friday 13 September 2024 PM Source(s): Bloomberg News/ WSJ / Dow Jones U.S. Stocks Rise on encouraging data and expectations the Fed 'may' opt to cut by 50bp next week. News - US consumer sentiment climbs to 4-month high S&P 500 scores Best Week of Year - up all 5 sessions this week. Nasdaq posts 6% weekly gain as U.S. stocks climb ahead of Fed's rate decision The Dow Jones Industrial Average closed within 0.5% of its all-time high! 2-year Treasury yield ends at lowest since September 2022 as markets weigh chance of big Fed rate cut. __ Economic Data Today: 1) University of Michigan sentiment index increased to 69.0 from August’s 67.9. Consumers expect prices to rise at an annual rate of 2.7% over the next year compared with the 2.8% expected a month earlier. 2) US Aug. Import Prices Fell 0.3% M/m, Below Estimate Aug. import prices down 0.3% m/m after rising 0.1% prior month._ Treasury Yield - Lower -- Yield curve 2yr-10yr closes the week only fractionally positive. The tug-of-war debate surrounding whether the Fed will cut rates by 25 or 50 basis points gave a slightly upper hand to the more bullish projection at the close. * 3mo T-bill yield fell 3.1bps to 4.885% * 6mo T-bill yield fell 2.7bps to 4.649% _ * 1-year yield fell 6.7bps to 4.007% * 2-year yield fell 1.9bps to 3.648% * 10-year yield fell 0.3bps to 3.649% * 30-year yield fell 0.4bps to 3.985% Today's Auctions: None US Year-to-Date Sovereign Bond Sales $19.8T The US sold $19.8 trillion worth of bonds this year as of Sept. 12. Issuance was up 39% compared to the same period last year. _ Stocks: * Dow - Up 297.01 (+0.72%) * S&P 500 - Up 30.26 (+0.54%) * NASDAQ - Up 114.30 (+0.65%) United States Steel Corp. surged the most this year after the Washington Post reported the Administration would not immediately move to block Nippon Steel takeover bid ___ Boeing May Be Cut to Junk by Moody’s Ratings placed on 'negative watch' by Moody’s * The ratings could be downgraded if the IAM strike is prolonged, leading to material reduction in Boeing’s liquidity after considering proceeds from any capital raising the company may undertake __ Oil: Short-Lived Rebound as Storm Francine Passes * WTI gives up day’s gains as output starts to come back online * Crude still is down for the quarter on concerns about demand Up $0.12 to settle @ US$69.10 Gold: Closes the week at yet another record high - Investors Leaning Towards Traditional Safe-Haven Assets - Close @ $2,582.15 Up $24.46 Crypto: Bitcoin closes just under 60k today as financial 'asset enthusiasm' spread across the markets. - Bitcoin closed @ 59,743.40 Up 1,577.69 (+2.71%) AI: (Axios) OpenAI and Salesforce hand bots more decision-making power Big announcements from OpenAI and Salesforce on Thursday highlight the tech industry's desire to give bots more decision-making capabilities. Increasing genAI's autonomy and reasoning capabilities could improve efficiency, but also increase risk. ******

Stocks fell on the last trading day of April to cap a losing month. The stock market’s three major indices performed as follows in April: S&P 500 -4.2% Nasdaq -4.4% The Dow -5% It was the Dow’s worst monthly slide since September 2022, while all three major indices ended five straight months of gains. Disappointing wage data and a new round of inflation fears pressured markets lower in the final day of April. But despite a brutal month for equities, the S&P 500 is still up more than 20% from its recent low as of October 2023.

Stocks fell on the last trading day of April to cap a losing month. The stock market’s three major indices performed as follows in April: S&P 500 -4.2% Nasdaq -4.4% The Dow -5% It was the Dow’s worst monthly slide since September 2022, while all three major indices ended five straight months of gains. Disappointing wage data and a new round of inflation fears pressured markets lower in the final day of April. But despite a brutal month for equities, the S&P 500 is still up more than 20% from its recent low as of October 2023.

THE WEEK ON WALL STREET Stocks posted solid gains over a short and busy holiday week as investors parsed fresh economic data, comments on potential future trade policy, and a few Q3 reports from technology companies. The Standard & Poor’s 500 Index gained 1.06 percent, while the Nasdaq Composite Index advanced 1.13 percent. The Dow Jones Industrial Average rose 1.39 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, added 2.02 percent.1,2 RALLY EXTENDS Stocks staged a broad-based rally to start the week as investors reacted to the nominee for Secretary of the Treasury. Small-cap stocks continued their month-to-date surge as the Russell 2000 Index rose to an all-time high. News that consumer confidence rose in November appeared to contribute to gains.3,4 Then stocks took a pre-Thanksgiving pause as investors digested economic data. Also, disappointing Q3 updates from two computer hardware manufacturers weighed on the tech sector in pre-Thanksgiving trading.5 Semiconductor stocks rallied on Friday, pushing all three averages higher for a second straight week. The Dow cracked 45,000 for the first time, and the S&P 500 hit a new record high—with each index closing out its best month of 2024.6 Read More 1. The Wall Street Journal, November 29, 2024 2. Investing.com, November 29, 2024 3. The Wall Street Journal, November 25, 2024 4. CNBC.com, November 26, 2024 5. The Wall Street Journal, November 27, 2024 6. The Wall Street Journal, November 29, 2024 The post Weekly Commentary – December 2, 2024 appeared first on PMG Wealth Management .