7/28/2023 0 Comments Dow jones live market watch![]() "This stock market rally seems a bit overextended but too much money remains on the sidelines, which means if the AI trade remains intact, this winning streak for the S&P 500 can continue."įriday brought more good news on the inflation and economic front. "Wall Street remains upbeat that the AI wave won't be going away anytime soon and that investors will prefer US stocks as we see diverging central bank policies worldwide," said Ed Moya, senior market analyst at Oanda. Tech shares were the hardest hit initially when the Fed embarked on its rate-hiking campaign. Microsoft added 4.7% this week and hit a record Thursday. AI darling Nvidia gained 10% this week, adding to its 192% surge this year. Earlier in the week, the May consumer price index came in at the lowest in two years.Īdobe added 0.9% after beating results and issuing upbeat guidance, the latest tech stock to rally. ![]() While the Fed signaled that two more rate increases were coming this year, many traders and economists on Wall Street believe the Fed could be nearly done. The Federal Reserve delivered what investors wanted this week when the central bank left rates unchanged Wednesday after 10 consecutive hikes. The S&P 500 and Nasdaq have hit their highest levels since April 2022.The Dow Jones Industrial Average was up nearly 1.3% for the week, its third positive week in a row.Both the Nasdaq and S&P 500 were up six days in a row through Thursday.The Nasdaq is up eight weeks in a row, its best winning streak since 2019.The Nasdaq Composite is up about 3.3% on the week, its best week since March.The benchmark is now up more than 26% from its bear market low.It's the S&P 500's fifth positive week in a row, the first such streak since November 2021.The S&P 500 is up 2.6% on the week, its best performance since March.Here are the major market milestones on the week: The Nasdaq Composite lost 0.68% to finish the session at 13,689.57. The S&P 500 ticked down 0.37% to close at 4,409.59, while the Dow Jones Industrial Average slipped 108.94 points, or 0.32%, to close at 34,299.12. Stocks slipped on Friday as Wall Street closed out a huge week in which investors received a pause on rate hikes from the Federal Reserve, plus encouraging inflation data. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower June's third Friday is tomorrow, so both the S&P 500 and the Nasdaq-100 indexes are rebalanced, which will affect demand for some stocks.įor perspective, the Stock Trader's Almanac says that the expiration week is often higher in bull markets and down in bear markets - the S&P 500 is up about 3% so far this week and the Nasdaq Composite by about 4% - but that the Dow Jones Industrial Average has fallen on six of the last seven June expiration days.Best Debt Consolidation Loans for Bad Credit Meanwhile, S&P Dow Jones and some other providers rebalance their indexes on the third Friday of each quarter's final month, changing the weightings of individual stocks, higher or lower. 16, 2022, the fourth quarter's witching day. TradeStation, which owns online securities and futures brokerages and trading technology companies, says the single busiest trading day of the second half of 2022 came on Dec. If nothing else, trading volume is exceptionally high on expiration days. Personal Loans for 670 Credit Score or LowerĪs if the first half of the year hasn't been unexpected enough, moves in Friday's trading could be exacerbated further by "quadruple witching" in derivatives - the quarterly expiration of options on individual stocks, stock index futures contracts, options on stock indexes and options on stock-index futures - plus the quarterly rebalancing of some of the underlying indexes themselves. Best Debt Consolidation Loans for Bad Credit
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