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After a hugely positive day for stocks on Thursday, negativity returned to Wall Street. This up and down action underlines how crazy it is to get comfortable about what stocks will do in the short term.
The inflation battle in the US (and for that matter here too) is nearly over but few economists and key market players are prepared to say it.
The inflation battle in the US (and for that matter here too) is nearly over but few economists and key market players are prepared to say it.
Stocks rose overnight, with all three most-watched market indexes strongly higher, despite the Fed boss Jerome Powell not declaring victory with the fight against inflation.
Another negative day for US stocks, so put on your market-panic seatbelts but don’t make them too tight because at some time over the next few weeks you’ll want to be a buyer of quality companies caught up in this temporary sell-off. Why do I say that?
The US registered another loser week for stocks, which makes it two in a row, but historically speaking, this conforms with the past as the Stock Traders Almanac says this is what often happens in the first two weeks of August.
A rally for stocks (on the back of a lower job creation figure for the American economy) U-turned when hourly wage numbers in the state of the labour market report rose more than expected.
The Dow Jones Industrial Average was up again, and this week registered the 13th day of rises on the trot, which hasn’t happened since 1987.
The Dow Jones Industrial Average fought for a 10-day in a row rise, which are the best consecutive up-days for the index since 2017! This coincided with the Nasdaq dropping over 2%, as initial jobless claims in the US fell to a two-month low, which sparked some to argue that this will push the Fed to give another rate rise this upcoming week, which hurt tech stocks.
In case you’re wondering, early Saturday morning for me starts with a ‘crawl’ out of bed and the first thing I grab is my mobile phone. I quickly click on the markets’ app, and today for Wall St it was green on the screen!
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