After a strong surge in June and July, the S&P 500 index has experienced a significant decline in August, with tech stocks being hit particularly hard, as fears of rising interest rates and a slowdown in China weigh on the market.
Stock indices finished the trading session mixed, with the Dow Jones Industrial Average (DJIA) falling while the Nasdaq 100 (NDX) and the S&P 500 (SPX) gained. Additionally, auto loan delinquencies are increasing as car prices become unsustainable, and gas prices are on the rise.
The Dow and S&P 500 ended slightly lower due to concerns about the Federal Reserve keeping interest rates higher for longer, while the Nasdaq finished barely in the green; the financial sector fell 0.9%, dragged down by an S&P downgrade of credit ratings of regional U.S. lenders, and investors are awaiting clarity on the rate outlook from Fed Chair Jerome Powell.
Summary: The Dow Jones Industrial Average and other stock indexes experienced significant declines as market attention shifted to the upcoming speech by Fed Chair Jerome Powell at the Jackson Hole Economic Symposium, while Nvidia's gains were nearly wiped out after strong earnings and Tesla CEO Elon Musk issued a warning regarding the Cybertruck, although Box, NOV, and Automatic Data Processing showed strength.
The three major U.S. stock indexes ended down over 1% each, with the Nasdaq leading the decline, as investors were cautious ahead of Federal Reserve Chair Jerome Powell's speech and despite Nvidia's strong forecast and stock buyback announcement.
Tech-heavy Nasdaq Composite and S&P 500 close higher on Monday, while Dow Jones Industrial Average falls slightly; Bank of America analyst predicts insurers will increase customer prices due to increased climate change risk; Allianz economist believes Federal Reserve Chair Powell will focus on short-term monetary policy at Jackson Hole; Loop Capital warns of weak smartphone sales ahead of iPhone 15 launch; CFRA Research chief investment strategist expects year-end rally for stocks despite recession concerns; Homebuilding stocks begin to decline; AMC Entertainment falls ahead of stock conversion; Cybersecurity company SentinelOne explores potential sale; LPL Financial chief technical strategist says recent stock pullback is temporary and predicts end-of-year rally; Jefferies upgrades gold product manufacturer Acushnet Holdings; Nvidia's quarterly earnings report could be critical for the market, says Wolfe Research; Stocks making big moves midday, including XPeng, Eli Lilly, and Marriott Vacations Worldwide.
The S&P 500 and Nasdaq closed higher for the week despite a pullback, while the Dow Jones Industrial Average closed lower for the second consecutive week.
Stock indices finished the trading session in the green, with gains seen in the Nasdaq 100, S&P 500, and Dow Jones Industrial Average. However, Texas manufacturing experienced a downturn in August, and gas prices have slipped across the country. U.S. stock futures are trending higher, and traders are awaiting key economic releases and earnings reports this week. In Asian markets, indices ended higher, but Evergrande Group's shares plunged while Xpeng's shares rallied.
The Dow Jones Industrial Average fell 0.6% as major indexes tested their 50-day lines, while the S&P 500 and Nasdaq both experienced declines midday.
Stock indexes decline as concerns about future rate hikes and sluggish market performance in September weigh on investor sentiment, with the tech-heavy Nasdaq Composite falling for the third consecutive day and the Dow Jones Industrial Average and S&P 500 on a two-day losing streak.
Stock indices finished today’s trading session in the red, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all falling. The technology sector was the session's laggard, while the utilities sector was the leader. The U.S. 10-Year Treasury yield increased, and the Atlanta Federal Reserve's latest GDPNow reading estimates that the economy will expand by about 5.6% in the third quarter. The Federal Reserve released its Beige Book report, noting a tourism boom but slower spending in other areas. The ISM Non-Manufacturing Purchasing Managers' Index came in higher than expected, and mortgage applications fell to their lowest level since 1996. The U.S. trade deficit widened less than expected in July. U.S. stock futures inched lower, and European indices trended lower. Asia-Pacific markets were mixed.
Stock index futures were slightly lower on Wednesday due to concerns about oil prices at a 10-month high, with S&P futures and Dow futures down 0.2% each and Nasdaq 100 futures down 0.3%.
Dow Jones futures, along with S&P 500 futures and Nasdaq futures, dipped lower after the stock market experienced significant losses due to the unexpected rise in the August ISM services index, which pushed Treasury yields and Fed rate hike odds higher.
Renewed concern over the Federal Reserve's interest rate policy and the potential for another hike this year has led to lower S&P 500 futures and Nasdaq 100 futures, while Dow Jones Industrial Average futures are slightly up.
Summary: The Nasdaq and S&P 500 closed slightly higher on Friday after a week of losses, while the Dow Jones Industrial Average rose 0.2%; however, all three major indexes ended the week lower due to rising oil prices, stronger-than-expected labor market data, and China's iPhone ban.
The stock market opened positively, with the Nasdaq up 0.6%, but later faded; major indexes are below their 50-day moving averages as investors await key economic data midweek.
Stock indices finished today’s trading session in the green, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all gaining, while the energy sector fell and the consumer discretionary sector led; individuals held a relatively steady stance on inflation expectations but had growing concerns regarding employment prospects and obtaining credit, according to a report from the Federal Reserve Bank of New York, while Treasury Secretary Janet Yellen expressed confidence in the stability of the U.S. economy, citing controlled inflation and positive employment trends.
Stock indices closed in the red, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all experiencing declines, while the technology sector underperformed and the energy sector led the session. The U.S. 10-Year Treasury yield dropped, while the Two-Year Treasury yield increased. The Small Business Optimism Index for August decreased, with inflation cited as a major concern among small business owners. Stocks opened lower on Tuesday, and U.S. futures trended lower as well. This week's focus will be on the Consumer Price Index and Producer Price Index data, which could impact the Federal Reserve's decision on rate hikes. Oracle's stock fell after missing sales estimates, while Casey's General and Tesla saw gains. JPMorgan's CEO criticized new Basel III regulations, and European indices traded in the green. In Asia-Pacific, markets ended mixed as traders await U.S. inflation data.
U.S. stocks fell on Tuesday, with tech stocks dragging down indexes after Apple unveiled its latest iPhone and the Justice Department's antitrust case against Google went to trial in Washington. The Nasdaq sank 1%, while the S&P 500 fell 0.6% and the Dow Jones Industrial Average closed 0.1% lower.
Dow Jones futures, along with S&P 500 futures and Nasdaq futures, were unchanged after hours as the stock market rally experienced losses, with the S&P 500 and Nasdaq dropping below the 50-day line, while energy stocks led and software retreated. Apple stock fell after unveiling the iPhone 15 and other products, while stocks such as Salesforce, Alphabet, General Electric, Shopify, and Nvidia remained in or near buy areas. The CPI inflation report and Adobe earnings are potential market catalysts.
Despite the pressure on the market, the major US equity indexes have held steady near their recent highs, with the S&P 500 up 16.21% year to date and the Nasdaq Composite up 31.6%, raising questions about whether the current market weakness is due to seasonality or potentially something more significant like inflation.
Stock indices closed lower today, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all experiencing declines, while the technology sector was the session's laggard and the real estate sector was the leader but still lost ground. Additionally, the U.S. 10-Year Treasury yield and Two-Year Treasury yield both increased.
The S&P 500 and Nasdaq ended the week slightly lower due to a decline on Friday caused by higher bond yields and oil prices, while the Dow Jones Industrial Average saw a small weekly gain.
Stock indices finished today’s trading session slightly higher, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all seeing modest gains, while the consumer discretionary sector fell and the energy sector rose.
Dow Jones futures, as well as S&P 500 futures and Nasdaq futures, dropped after the Federal Reserve meeting, with the stock market retreating and breaking below critical levels due to the Fed's decision to stick with forecasts for one more rate hike this year and hinted that rates would stay higher for longer.
Summary: Dow Jones futures, S&P 500 futures, and Nasdaq futures all rose overnight, while the stock market correction continued with heavy losses as the 10-year Treasury yields surged, leading to the S&P 500 undercutting its August lows and the Nasdaq and Dow Jones coming close to doing the same.
The stock market had a cool summer with the Dow Jones up 0.5%, the S&P 500 down 0.4%, and the Nasdaq down 1.3% from June 21 to Friday, as big tech stocks experienced a slump while energy stocks performed well.
About 18% of S&P 500 index members and 17% of Nasdaq Composite index members are currently trading below their respective moving averages and have a 14-day RSI below 30, which suggests oversold conditions and the potential for a minor rebound ahead of the US earnings season.
Stock indices closed in the red as the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all experienced declines, while the utilities sector fell the most and the energy sector led despite still seeing a decrease; in addition, economic data including the Consumer Confidence report and US New Home Sales data reflected lower than expected figures, and stocks opened lower in Tuesday's trading session with the Case-Shiller Home Price Index suggesting continued rising demand for homes; JPMorgan CEO Jamie Dimon warned that a rise in interest rates to 7% could be painful for the global economy, and US Futures and WTI crude oil futures were trending down.
Major stock market indexes dipped into negative territory on Wednesday, continuing Tuesday's losses, despite some positive news from August durable goods numbers. The Dow Jones, S&P 500, and Nasdaq all saw declines, with the Dow Jones now breaking its 200-day moving average.
Stocks ended the day higher as the surge in oil, the dollar, and Treasury yields slowed down, with the Nasdaq rising 0.8%, the S&P 500 gaining 0.6%, and the Dow Jones Industrial Average rising 0.4%.
Stocks mostly fell in the U.S. on Friday, with the S&P 500 and Dow Jones Industrial Average declining, while the Nasdaq Composite inched up; all three indexes ended the month of September in the red, with the S&P and Nasdaq experiencing their worst monthly performance since December, and the Dow having its worst showing since February.
U.S. stocks showed mixed performance as Treasury yields rose and a government shutdown was averted, with the Dow Jones Industrial Average down 0.6%, the S&P 500 down 0.3%, and the Nasdaq Composite up 0.4%.
Stocks finished mixed on Monday, as the Nasdaq led the way with a 0.7% increase, while the S&P 500 turned just above the flatline, and the Dow Jones Industrial Average dropped 0.2% to start the new quarter of trading after averted government shutdown concerns.
Indexes remained near session lows at noon Tuesday as the Dow Jones Industrial Average fell 1.2% after strong jobs data and yields continued to spiral upward, while the S&P 500 fell 1.4% and the Nasdaq fell 1.7% after rebounding in a four-day rally attempt.
The Dow Jones Industrial Average and other indexes took a major hit in the stock market, with the Dow falling more than 500 points and the Nasdaq and S&P 500 also experiencing significant losses, as the cost of borrowing money increased and the yield on the Treasury 10-year bond reached a 16-year high.
Major stock indexes ended sharply lower on Tuesday as economic data highlighted concerns about the Federal Reserve maintaining high interest rates.
Stock indices finished in positive territory, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all posting gains, while the energy sector experienced losses; meanwhile, the U.S. 10-Year Treasury yield decreased and the Two-Year Treasury yield also saw a decline. The Factory Orders report showed an increase in new purchase orders placed with manufacturers, beating expectations. The ISM Non-Manufacturing Purchasing Managers' Index indicated a slight contraction in the non-manufacturing sector, and the ADP jobs growth data showed a slowdown in job growth and wages. U.S. Futures opened lower following higher-than-anticipated JOLTs jobs opening data. Asian markets ended mixed, while European indices traded in the red.
Stocks slip as U.S. crude futures drop and mortgage rates climb, while investors await payroll data for signs of a slowing job market; electric vehicle stocks like Rivian and Lucid are making moves, and the U.S. Dollar Index rises for its 12th consecutive week. European stocks close mixed, and utilities stocks see their worst year in over a decade due to higher bond yields.
Wall Street's major averages ended slightly lower as investors awaited the non-farm payrolls report and grappled with mixed economic data, while the tech-heavy Nasdaq Composite and benchmark S&P 500 both pared back losses, and defensive sectors outperformed.
Stocks on Wall Street opened lower after the US jobs report exceeded expectations, raising concerns that the Federal Reserve may raise interest rates; the Dow Jones was down 0.3%, the S&P 500 lost 0.4%, and the Nasdaq Composite dropped 0.5%.
Shares of the seven largest technology stocks, including Apple, Microsoft, Alphabet, Amazon, Meta Platforms, Tesla, and Nvidia, all traded lower following stronger-than-expected September jobs data, potentially impacting the Federal Reserve's interest rate hike policy.
Summary:
US stock indexes closed lower as investors awaited monthly employment data and looked for insights into future interest rate directions, with the Dow Jones Industrial Average down 0.03%, the S&P 500 down 0.13%, and the Nasdaq Composite down 0.12%; in Asian markets, Japan's Nikkei 225 declined 0.28%, Australia's S&P/ASX 200 rose 0.41%, China's markets were closed for a holiday, and Hong Kong's Hang Seng index gained 1.40%; European markets, including the STOXX 600, Germany's DAX, France's CAC, and the UK's FTSE 100, all saw gains; and in commodities, Crude Oil WTI and Brent were down, Natural Gas was up, and Gold, Silver, and Copper all saw increases.
Dow Jones futures and S&P 500 futures rose slightly, while Nasdaq futures also saw a slight increase; notable earnings movers included Super Micro Computer, Celsius Holdings, and Upstart Holdings.
The Nasdaq declined for the fourth consecutive day as tech stocks continued to slide amid concerns over an economic slowdown in China and potential rate hikes by the Federal Reserve, while healthcare stocks boosted the Dow; Treasury yields fell, and oil prices dipped after a nine-day winning streak.
Dow Jones futures rose slightly while S&P 500 futures and Nasdaq futures fell; Treasury yields retreated and crude oil spiked as U.S. sanctions on Russian crude sales tightened; UnitedHealth, JPMorgan Chase, Wells Fargo, Citigroup, PNC Financial Services, and BlackRock reported their earnings; the stock market rally retreated after an inflation report and a poorly received Treasury auction; Apple and Microsoft stocks edged higher while Google and Meta Platforms fell; Dow Jones futures rose slightly; the 10-year Treasury bond yield fell; the stock market rally struggled at key levels; growth ETFs slumped; megacap stocks like Apple, Microsoft, Google, Meta, Nvidia, Amazon, and Tesla were down a fraction; investors should be cautious and ready to reduce or exit positions if necessary.
Stock indices finished mixed, with the Dow Jones gaining 0.12% while the S&P 500 and Nasdaq 100 fell 0.5% and 1.24% respectively; UBS analysts predict a "softish" landing for the US economy and have adjusted their S&P 500 price target down to 4,500 from 4,700, citing geopolitical and domestic financial developments.
