Stock Market Today: Dow Futures Inch Up
Stocks around the world are starting the week on a positive note, despite the possibility of higher U.S. interest rates, with U.S. futures pointing to a modest boost for indexes at the opening bell.
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Posted 8/28/2023, 11:24:00 AM
wsj.com
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Global stocks are set to rise for a third consecutive day as concerns over euro zone business contraction and chipmaker Nvidia's earnings fuel speculation of a pause in the European Central Bank's interest-rate hike campaign.
The stock market is rising despite bad news, as interest rates lower and stabilizing rates are seen as positive signs.
U.S. stocks opened higher following the Dow Jones Industrial Average's recovery from its worst day in five months as investors awaited Federal Reserve Chairman Jerome Powell's speech at Jackson Hole.
Stocks rise on Wall Street for first winning week since July after Federal Reserve says it will proceed carefully with interest rates.
Traders are expecting a volatile start to the week as policymakers from the US and Europe indicate that interest rates will likely remain higher for a longer period of time, leading to increased yields on bonds and a weakening of the yen.
Stock futures opened higher to start the final trading week of August, following positive remarks from Federal Reserve Chair Jerome Powell and the expectation of a cautious approach to interest rate hikes.
Stocks rise at the beginning of the week after last week's selling, with markets relieved by the 10-year yield remaining at around 4.3%, while anticipating Federal Reserve Chairman Jerome Powell's speech on Friday for insight on short-term interest rates and inflation control.
European stocks opened the week on a positive note, following gains on Wall Street and a rally in Asia after China announced support for its equities market.
A potential relief rally in the stock market is expected to start the week, but the upside is limited due to uncertainties about interest rates and the recent volatility, according to a Wall Street technician. The S&P 500 and Nasdaq Composite have experienced pullbacks, but a relief rally may be possible in the near term. However, the long-term trend remains uncertain, and the risk of a downturn in the financial system is elevated.
Stocks started the final week of August on a positive note, but September is historically a bad month for stocks and analysts are warning of more turmoil ahead for the market.
U.S. stocks begin the final week of August with a positive start, Goldman Sachs sells its personal financial management unit, Microsoft emphasizes the need for human control over artificial intelligence, Google plans to license solar and environment data, Nvidia is hailed as the world's most valuable chipmaker, and analysts offer mixed views on the strength of the U.S. consumer and the future of the retail sector.
European stock markets are expected to open higher following positive moves on Wall Street, as investors anticipate fresh economic data and a potential pause in interest rate hikes by the Federal Reserve.
European stock markets are expected to open higher as investors await the U.S. jobs report, while China's Caixin/S&P global manufacturing purchasing managers' index boosted global sentiment; however, September is historically a difficult month for stocks.
The stock market could reach record highs by the end of the year, as historical data suggests positive returns when stocks are up 10%-20% heading into September, according to Bank of America.
Summary: Nvidia, Tesla, and Apple stocks had a great week as August ended on a strong note and Friday's jobs report provided a solid start to September.
US indices started the week on a subdued note as oil prices reached a 10-month high, causing concerns about global inflation, while US Treasury yields rose and the US dollar reached a ten-month high.
Stocks opened higher on Friday, with the Nasdaq rebounding from Apple's slide, following hints that the Federal Reserve may delay interest rate hikes in September.
The stock market ended the week on a positive note, with gains in mega-cap tech stocks like Apple, Amazon, and Microsoft helping the Nasdaq Composite avoid a fifth straight loss, while the Dow Jones and S&P 500 also had slight gains; however, all three benchmarks closed the week in negative territory.
Asian stock markets are starting to turn positive despite selling off shares in Chinese property developers and remaining unconvinced by efforts to revive activity in the mainland real estate market.
Stocks are expected to open the week higher, with the S&P 500 up 0.5% in premarket trading, as investors look ahead to key U.S. economic data and show interest in companies such as Lennar, Arm, Tesla, and Oracle.
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.
Global equity markets open the week with losses as cautious investor sentiment continues, following significant market slides in the US on Friday.
European markets are poised for a negative start to the week as investors await central bank decisions, including the U.S. Federal Reserve's announcement on interest rates and the Bank of Japan's monetary policy meeting, while Australia's central bank and China's People's Bank are also expected to make important releases. Additionally, Bank of America has named two European chip stocks as its "top picks" going into the end of the year.
U.S. stocks are expected to open lower and the dollar is soaring after the Federal Reserve indicated that interest rates will remain higher for a longer period, while the Bank of England faces a tough rate decision and the Swiss National Bank has paused its rate-hiking cycle.
US stocks are slightly higher on Friday but are on track for a losing week due to a spike in bond yields and surging oil prices.