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After a nice comeback for stocks after a mid-week sell-off following a worse-than-expected Consumer Price Index on Tuesday in the US, Friday’s trade on Wall Street and the Nasdaq’s Times Square building, went negative on a bigger-than-tipped Producer Price Index (PPI).
With the Dow Jones and S&P 500 at all-time highs and the Nasdaq flirting with it overnight, it’s pretty understandable that experts are warning us to be ready for a pullback.
While the news doesn’t seem to add up, I’m happy to accept Wall Street’s take on a stronger-than-expected jobs report
Wall Street and stock market indexes were mixed but Friday’s trade couldn’t wipe out another positive week for stocks.
Like a gift from Santa Claus, who this year is Jerome Powell of the Federal Reserve, stocks have surged this week, reinforcing a trend that started seven weeks ago for Wall Street.
Like a gift from Santa Claus, who this year is Jerome Powell of the Federal Reserve, stocks have surged this week, reinforcing a trend that started seven weeks ago for Wall Street.
Here in Australia, bad economic news is still good for stock prices, but in the US where they’re on top of inflation, good economic news is actually good news.
Global stocks had the best month in three years and the smarties are jumping on board my past predictions that small cap companies are likely to have a good 2024. This is the knock-on effect of the better-than-expected inflation news in many of the economies of the world.
The US stock market has been on a four-week tear higher, with the S&P 500 up over 7% and the Nasdaq 8% plus up.
The fear and anxiety that has captured the market this week rolled into Friday’s trade on Wall Street, with the combined impact of the Israel-Hamas battle and rising bond yields understandably spooking stock players.
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