Wall Street ends lower, capping a banner year

Wall Street ends lower, capping a banner year

By Stephen Culp

Tue December 31, 2024 8:06 PM

All three indexes started the day with some decent green only to begin declining almost immediately, going into the red by 11 a.m. and continuing downhill all day. So yes, it was yet another day that Santa Claus was conspicuously absent. Despite ending the year on a whimper, 2024 still had stellar results with the Nasdaq gaining 28.6%, the S&P 23.3% and the Dow 12.9%. The biggest winning sectors were communications, tech, and consumer discretionary, each advancing roughly between 29 and 39%.  

Wall Street ends sharply lower on penultimate trading day of a strong 2024

Wall Street ends sharply lower on penultimate trading day of a strong 2024

By Stephen Culp

Mon December 30, 2024 7:17 PM

In the thin volume that is customary in the final week of the year, a little bit of trading can make a big impact and the big sell off that happened today once again demonstrated that the Santa Claus rally was AWOL with all three indexes notching big losses, the Dow and Nasdaq into serious 3-digit red territory. The good news is that they all started out much worse in the morning, the Dow down over 700 points by 10:30, and then recovered substantially by close. The impact was due to year-end tax positioning as well as worries about what’s coming in 2025, both nationally and globally. 

Wall St finishes down after sell-off at end of strong holiday-shortened week

Wall St finishes down after sell-off at end of strong holiday-shortened week

By David French

Fri December 27, 2024 4:37 PM

The so-called Santa Claus rally took an abrupt reversal today with all the indexes heading well south right out the gate and staying there, both the Dow and Nasdaq suffering deep 3-digit losses. The tech stocks of the Magnificent Seven all took big dives between 2 and 5%. But no worries, there is still one more full week left for Santa Claus, not to mention that today’s massive sell-off was attributed to simple profit-taking as investors rebalance their portfolios heading into the new year. (Wouldn’t this rebalancing happen every year just before the 1^st?) But despite today, all three indexes ended the week with gains. As is typical for the year-end, volume for the shortened holiday week is below the 6-month average and is expected to remain so all next week too. 

DJ: 43,325.80  +28.77       NAS: 20,020.36  -10.77       S&P: 6,037.59  -2.45           12/26

DJ: 42,992.21  -333.59      NAS: 19,722.03  -298.33     S&P: 5,970.84  -66.75         12/27

Fri 12-27-24 4:37 pm Wall St finishes down after sell-off at end of strong holiday-shortened week | Reuters

US stocks tread water in thin trade, benchmark US yield backs off new high

US stocks tread water in thin trade, benchmark US yield backs off new high

By Stephen Culp and Alden Bentley

Thu December 26, 2024 5:11 PM

The Santa Claus rally went on pause today as all three indexes started the session in the red, the Dow down almost 200 points, but then began an almost immediate recovery to break-even around noon and then more or less straddle the flat mark the rest of the day and closing near flat. But no worries as today’s expert put it, “We’re in the Santa Claus rally, with a little bump in the road today, and it’s probably safe to say the year-end rally will continue.”  

Wall Street ends higher as Santa rally begins

Wall Street ends higher as Santa rally begins

By David French

Tue December 24, 2024 4:50 PM

The traditional Santa Claus rally is officially underway with all three indexes shooting straight way up, the fourth straight gain for the Dow and Nasdaq, and third for the S&P. The Magnificent Seven continues to drive the market over continued optimism on the future of tech, especially AI. It was a shortened session with the markets closing at 1 pm and will be closed for Christmas Day.  

DJ: 42,906.95  +66.69      NAS: 19,764.89  +192.29      S&P: 5,974.07  +43.22        12/23

DJ: 43,297.03  +390.08    NAS: 20,031.13  +266.24      S&P: 6,040.04  +65.97        12/24

Tue 12-24-24 4:50 pm Wall Street ends higher as Santa rally begins | Reuters

Wall Street ends higher on gains by most megacaps

Wall Street ends higher on gains by most megacaps

By David French

Mon December 23, 2024 4:40 PM

The day started in the red for all the indexes, only slightly for tech but deeply for the Dow which was down some 300 points this morning. But tech recovered to spend most of the day in the black, the Dow taking most of the day to reach that goal but also closing in the black. We’ve now seen our third straight day of corrections after last Wednesday’s severe sell off, corrections prompted mostly by major gains in the Magnificent Seven, all closing higher and with Meta, Nvidia and Tesla all gaining between 2 and 4%.  

Stocks rally after inflation data but close lower for the week

Stocks rally after inflation data but close lower for the week

By Chuck Mikolajczak

Fri December 20, 2024 4:30 PM

A correction has begun with all three indexes shooting straight up right out the gate, reaching their apex around noon, and staying there the rest of the day. The trigger was a combo PCE report that showed inflation slightly lower than expected and Fed officials indicating a more dovish approach than was announced Wednesday. It was enough to change the odds of 2025 rate cuts from two to three and for the first one to come as early as March instead of June.  

Stocks end flat after Fed-induced selloff as early bounce fades

Stocks end flat after Fed-induced selloff as early bounce fades

By Chuck Mikolajczak

Thu December 19, 2024 4:32 PM

After yesterday’s big shock sell-off, all three indexes started the day with a bang, the Dow up some 450 points, trying to correct for Wednesday’s big panic. And all three stayed well in the black all day but still with quite the rollercoaster as they all also gradually sank back all day long to close more or less flat. Today’s data didn’t help the case at all, with jobless claims falling more than expected and GDP revised upwards, all of which bolstering the Fed’s view that the economy is still running too hot and inflation is still ticking up.  

Stocks dive after Fed cuts rates, signals slower easing pace in 2025

Stocks dive after Fed cuts rates, signals slower easing pace in 2025

By Chuck Mikolajczak

Wed December 18, 2024 5:00 PM

Yesterday it was noted that investors had some trepidation about the so-called SEP Fed report projecting economic conditions for the coming year and its impact on rate cuts. They didn’t get what they wanted. Despite the ¼ December cut coming through, the market was shocked and sent into a tailspin right at 2 pm (when Powell likely made the announcement) that the SEP indicated a need to slow down the cuts and that only two more would be coming in 2025. The indexes saw their biggest daily drop in months, especially with the Dow plummeting more than 1,100 points and its 10^th straight day of declines, something that hasn’t happened since 1974.  

Stocks fall, Dow drops for 9th straight session with Fed decision due

Stocks fall, Dow drops for 9th straight session with Fed decision due

By Chuck Mikolajczak

Tue December 17, 2024 4:24 PM

Even though it’s really quite a foregone conclusion that the Fed will announce a ¼ point rate cut when it meets Wednesday and Thursday, it’s still being described as “standard fare for a pre-Fed day market where you have just a little bit of uncertainty” to hedge bets and pull back a bit. That’s exactly what happened today with all three indexes taking hits, especially in view of what news will come with the Fed’s SEP (Summary of Economic Projections) for more clues on inflation and future rate cuts.  

Nasdaq closes at record as investors prepare for Fed rate decision

Nasdaq closes at record as investors prepare for Fed rate decision

By Chuck Mikolajczak

Mon December 16, 2024 6:38 PM

With a near certainty for a ¼ point rate cut announcement at this month’s Fed meeting this Wednesday, tech was once again way up, the Nasdaq hitting still another new record, and the Dow continuing to fall as dollars get transferred to the riskier but more profitable tech stocks. This is the 8^th consecutive downgrade on the Dow, its worst string of declines in 6 years. Factory production (PMI) came in below forecast and at its lowest level since May 2020. The S&P snapped a three-week winning streak but is still up 27% for the year. The Nasdaq has had four straight weeks of gains. Retail sales comes in tomorrow. Volume is once again finally above the 14 billion average, coming in today at 15.3 billion. 

DJ: 43,828.06  -86.06       NAS: 19,926.72  +23.88       S&P: 6,051.09  -0.16        12/13

DJ: 43,717.48  -110.58     NAS: 20,173.89  +247.17     S&P: 6,074.08  +22.99     12/16

Mon 12-16-24 6:38 pm Nasdaq closes at record as investors prepare for Fed rate decision | Reuters

US stocks close flat as Nasdaq extends weekly gains, S&P 500 and Dow dip

US stocks close flat as Nasdaq extends weekly gains, S&P 500 and Dow dip

By Echo Wang

Fri December 13, 2024 4:40 PM

They’re calling yesterday and today both “a breather” as both the Nasdaq and Dow opened the session up 3-digits but began an almost immediate decline staying close to flat throughout the rest of the session and closing flat. It’s also being called a sell-off as investors take profits from recent highs, especially the Nasdaq recently breaking 20,000 for the first time. Still, despite PPI coming in hotter than expected yesterday, the odds of a ¼ point rate cut next week remains a virtual certainty, today even rising to 97% vs 96 yesterday.  

Wall Street closes lower as investors assess data after recent gains

Wall Street closes lower as investors assess data after recent gains

By Echo Wang

Thu December 12, 2024 4:31 PM

It was a shot straight down on all the indexes, particularly the Dow and Nasdaq which both turned in substantial 3-digit losses. One explanation is that investors were taking profits after yesterday’s record-setting day on the Nasdaq passing 20,000 for the first time. Another explanation is that investors are hedging their bets with a PPI number coming in higher than expected as well as an unexpected hike in unemployment claims.  

Tame US inflation boosts S&P 500, Nasdaq rallies above 20,000

Tame US inflation boosts S&P 500, Nasdaq rallies above 20,000

By Chibuike Oguh, Purvi Agarwal and Shashwat Chauhan

Wed December 11, 2024 4:20 PM

Even though yesterday the forecast was for a very slight 0.1% increase in the CPI, and even though there were no specific numbers given in today’s report except that “consumer prices in November increased by the most in seven months, though broadly in line with market expectations,” it seems fair to assume that the number was higher than 0.1% but still low enough to make everyone happy. The odds for a rate cut now stands at 96%, up from 86 yesterday, and that caused both tech indexes to zoom way up right out the gate.  

Wall St indexes fall ahead of inflation data

Wall St indexes fall ahead of inflation data

By Sinéad Carew and Purvi Agarwal

Tue December 10, 2024 4:05 PM

Tech started the day in the black and ended it in the red. The Dow started the day 3-digits in the red, briefly saw black for a couple hours mid-day, then went back into the red to close 3-digits down again. Like yesterday, everyone is hedging their bets against inflation reports coming Wednesday and Thursday. Like yesterday, the Chinese investigation of Nvidia is pulling down the tech sector. Like yesterday, industrials continue to experience correction after the recent records that were set.  

Wall Street closes down as tech stocks fall

Wall Street closes down as tech stocks fall

By Echo Wang

Mon December 9, 2024 6:27 PM

It was a shot straight down on all the indexes as the entire market felt the sting of Nvidia being investigated by the Chinese, a move that infected the entire chip sector sending Nvidia down 2.5%, Advanced Micro Devices 5.7% and the chip index itself down almost 1%. Today’s big plunge may also have to do with hedging bets as CPI data is due Wednesday and PPI Thursday to get a better fix on inflation. Unemployment rose to 4.2% indicating a loosening labor market which also bolsters the case for a December rate cut, the odds of which today stand at 85%. Industrials of course may be just continuing their correction after the recent record highs. For once, volume exceeded the 14.46 average, coming in today at 15.11 billion. 

DJ: 44,642.52  -123.19       NAS: 19,859.77  +159.05     S&P: 6,090.27  +15.16         12/6

DJ: 44,401.93  -240.59       NAS: 19,736.69  -123.08      S&P: 6,052.85  -37.42          12/9

Mon 12-9-24 6:27 pm Wall Street closes down as tech stocks fall | Reuters

Wall Street adds to stock, rate cut bets after 'Thanksgiving buffet' jobs data

Wall Street adds to stock, rate cut bets after 'Thanksgiving buffet' jobs data

By Lawrence Delevingne and Iain Withers

Fri December 6, 2024 4:39 PM

The employment report came in with a rosy 227,000 new jobs vs a 200k forecast and the October numbers were upwardly revised from the dismal 12,000 to now 36,000 new jobs. This is being called a Goldilocks report since it is neither so good as to discourage a December rate cut nor so bad as to raise concerns of a slowdown. As today’s expert opined, “This doesn’t kill the holiday spirit and the Fed remains on track to deliver a cut in December.” Since that’s good news for tech, industrials sank a bit from recent records as money flowed back to risk-on. Per the CBOE, 13.2 billion shares were traded, well below the 4-week average. 

DJ: 44,765.71  -248.33       NAS: 19,700.26  -34.86       S&P: 6,075.11  -11.38       12/5

DJ: 44,642.52  -123.19       NAS: 19,859.77  +159.05    S&P: 6,090.27  +15.16      12/6

Fri 12-6-24 4:39 pm Wall Street adds to stock, rate cut bets after 'Thanksgiving buffet' jobs data | Reuters

Indexes dip with UnitedHealth, tech, ahead of jobs report

Indexes dip with UnitedHealth, tech, ahead of jobs report

By Caroline Valetkevitch

Thu December 5, 2024 4:25 PM

It’s only expected that after a record-setting day there would be a bit of a pullback and that’s exactly what happened with the Dow dipping three-digits as investors hedge their bets with the jobs report coming in Friday. The healthcare sector got hit hard today in the wake of the murder of United Health’s CEO yesterday with their stock dropping 5.2% and also infecting Cigna and Molina and the overall healthcare index.  

Tech rally, Powell comments boost indexes to record closing highs

Tech rally, Powell comments boost indexes to record closing highs

By Caroline Valetkevitch

Wed December 4, 2024 4:31 PM

Fed Chair Powell opining today that he was upbeat on the economy and inflation is continuing downward triggered another substantial rally with the markets now very confident that a December rate cut is coming. All three indexes surged to new records. Now all eyes are on Friday’s employment report which is really the tell-all for how well things are going. Today the private payrolls report showed a modest increase. But, awaiting Friday’s numbers, volume came in at 13 billion, still well below the 14.9 billion average. 

DJ: 44,705.53  -76.47       NAS: 19,480.91  +76.96      S&P: 6,049.88  +2.73       12/3

DJ: 45,014.04  +308.51    NAS: 19,735.12  +254.21    S&P: 6,086.49  +36.61     12/4

 Wed 12-4-24 4:31 pm Tech rally, Powell comments boost indexes to record closing highs | Reuters

Nasdaq, S&P 500 post record closing highs; investors await more data

Nasdaq, S&P 500 post record closing highs; investors await more data

By Caroline Valetkevitch

Tue December 3, 2024 7:32 PM

The indexes started the day in the red, the Dow down over 200 points by noon, then slowly recovered to modest gains in tech but still in the red for industrials. The tech indexes, already at records, achieved new records again as positive Fed comments further stoked optimism of a December rate cut, today with odds set at 72%. However, there is still considerable fence-sitting as investors await some critical reports later this week including the ISM and employment reports due Friday. The Fed has indicated that inflation continues to head towards the 2% target and that the job market is solid. The S&P advanced 5.7% in November and is up 27% YTD.  With the fence-sitting, volume remains below the 14.8 billion average, coming in at 12.7 billion. 

DJ: 44,782.00  -128.65      NAS: 19,403.95  +185.78     S&P: 6,047.15  +14.77      12/2

DJ: 44,705.53  -76.47        NAS: 19,480.91  +76.96       S&P: 6,049.88  +2.73        12/3

Tue 12-3-24 7:32 pm Nasdaq, S&P 500 post record closing highs; investors await more data | Reuters

S&P 500, Nasdaq post record highs as tech-related shares gain

S&P 500, Nasdaq post record highs as tech-related shares gain

By Caroline Valetkevitch

Mon December 2, 2024 6:11 PM

The big dive that began in the last 15 minutes Friday, particularly on the Dow, continued in earnest right out the gate this morning with the industrials losing 200 points by 10:30 and staying in the red all day, though recovering some and closing down 128. This is also not too unsurprising considering the record-setting day the Dow enjoyed on Friday. And as goes industrials, tech usually goes in the opposite direction as risk-on becomes the order of the day with investors looking forward to what is assumed to be another rate cut this month as well as also assumed positive jobs reports.  

S&P 500, Dow close at record highs on tech, retail in focus

S&P 500, Dow close at record highs on tech, retail in focus

By Saeed Azhar, Johann M Cherian and Purvi Agarwal

Fri November 29, 2024 6:17 PM

It was yet another record-setting day for both the Dow and S&P as record-setting holiday weekend retail sales plus a bounce back for both IT and chips sent both tech and industrials into another round of 3-digit gains. As things have been going for weeks now, every good day has been credited to either equities feeling the impact of the rate cuts or Trump’s victory favoring business.  

Wall Street stocks end lower after inflation data, tech stocks push Nasdaq down

Wall Street stocks end lower after inflation data, tech stocks push Nasdaq down

By Saeed Azhar, Johann M Cherian and Purvi Agarwal

Wed November 27, 2024 4:25 PM

The Dow opened some 150 points up and stayed in the black until about noon when it slid into the red for the rest of the session. Tech fared poorly with both indexes well into the red all day. Uncertainty continues to plague the market, particularly uncertainty over inflation as the PCE increased solidly in October, a sign that the economy remains too robust and that the war against inflation has stalled. This of course adds to the more important uncertainty over the future of rate cuts.  

Wall Street stocks end higher on tech; markets analyze Trump's tariff threats, Fed minutes

Wall Street stocks end higher on tech; markets analyze Trump's tariff threats, Fed minutes

By Saeed Azhar, Johann M Cherian and Purvi Agarwal

Tue November 26, 2024 4:21 PM

The Dow spent most of the day in the red, deeply in the red over 300 points by 10:30, then slowly recovering and even gaining 123 by close. Tech did much better with the two indexes well into the black all day, though activity was still choppy, as it has been. There is a tug of war going on as investors continue to parse the possible impact of the potential tariffs.  

Wall St closes higher; small-caps hit record high after Trump nominates Bessent

Wall St closes higher; small-caps hit record high after Trump nominates Bessent

By Saeed Azhar, Johann M Cherian and Purvi Agarwal

Mon November 25, 2024 4:36 PM

Wall Street apparently very much approves of Scott Bessent, Trump’s nominee for Treasury Secretary, which has eased concerns about possible tariffs, and this shot the Dow way up as industrials as well as underperforming small caps are now seeing the benefit of the rate cuts, the Dow achieving another very impressive 3-digit gain. But tech has continued to be choppy and gains modest due to strong economic data which has raised doubts as to whether the Fed will slow down the rate cuts. The odds of a December cut vs a pause has once again been reduced to about 50/50. But overall, the day saw much enthusiasm with industrials and small caps which was reflected in the volume of 16.7 billion, way above the 14.9 billion average. 

DJ: 44,296.51  +426.16     NAS: 19,003.65  +31.23       S&P: 5,969.34  +20.63       11/22

DJ: 44,736.57  +440.06     NAS: 19,054.84  +51.19       S&P: 5,987.37  +18.03       11/25

Mn 11-25-24 4:36 pm Wall St closes higher; small-caps hit record high after Trump nominates Bessent | Reuters

Wall Street closes higher after business activity data

Wall Street closes higher after business activity data

By Abigail Summerville and Johann M Cherian

Fri November 22, 2024 4:43 PM

Choppiness was the order of the day across all of tech as the market obviously has returned to a state of nervousness regarding the legal woes of both Google and Amazon as well as the future sustainability of AI as evidenced by Nvidia slipping 3.2%, also in choppy trading. But investors are taking a positive twist on all this watching “this leadership change go from technology to everything else” with small caps acting much better. This was amply demonstrated by a second day of spectacular performance on the traditional Dow.  

Wall Street closes higher as Dow, S&P hit one-week tops

Wall Street closes higher as Dow, S&P hit one-week tops

By Abigail Summerville

Thu November 21, 2024 4:45 PM

The markets need not have worried about the future of Nvidia and AI. Today’s report was beyond expectations and confirmed that both are alive and well and are expected to remain so for quite some time. Despite this, both tech indexes took a dive this morning, the Nasdaq especially starting the day 250 points down until slowly recovering to break-even, the S&P doing a little better.  

Wall Street ends mixed, Nvidia shares slip after the bell

Wall Street ends mixed, Nvidia shares slip after the bell

By Abigail Summerville

Wed November 20, 2024 7:25 PM

Tech took a big hit all day with the Nasdaq down nearly 300 points in the morning and the S&P not too far behind with a 60 point loss at 10:30, but both choppily recovering to near break-even at close. The Dow was on a rocky course bouncing back and forth several times between 200 point losses and break-even before finally breaking through in the 11^th hour and gaining 139 at close.  

S&P 500, Nasdaq end up with Nvidia; Walmart hits record after forecast

S&P 500, Nasdaq end up with Nvidia; Walmart hits record after forecast

By Caroline Valetkevitch

Tue November 19, 2024 4:56 PM

All three indexes started the day in the red, especially the Dow sinking 450 points by 10 a.m. Then they all steadily rose with tech going quickly into the black with handsome gains by close, all eagerly awaiting Nvidia’s Q3 later in the week on which there are very heavy bets. The Dow never got out of the red but did recover most of the day’s losses closing down 120. 

Nasdaq, S&P close higher as investors await Nvidia earnings

Nasdaq, S&P close higher as investors await Nvidia earnings

By Abigail Summerville

Mon November 18, 2024 4:37 PM

The Dow spent the day on a rollercoaster swinging back and forth between a 150 point loss and a 60 point gain but closing down 55. Tech fared considerably with a steady upswing due to renewed optimism today over the coming Trump policies that are expected to be favorable to tech. But there continues the tug-of-war over the controversial cabinet picks, whether Trump’s policies will hurt the economy, and whether AI rally will sustain or begin to wane. The latter will be closely watched as investors await Nvidia Q3. Volume is still a little above average but with election euphoria declining, the gap is closing with 14.9 billion shares traded vs a 14.1 billion average. 

DJ: 43,444.99  -305.87      NAS: 18,680.12  -427.53      S&P: 5,870.62  -78.55       11/15

DJ: 43,389.60  -55.39        NAS: 18,791.81  +111.69      S&P: 5,893.62  +23.00      11/18

Mon 11-18-24 4:37 pm Nasdaq, S&P close higher as investors await Nvidia earnings | Reuters

Wall St sinks on Powell rate-cut caution, Trump cabinet picks

Wall St sinks on Powell rate-cut caution, Trump cabinet picks

By Sinéad Carew and Lisa Pauline Mattackal

Fri November 15, 2024 6:46 PM

For the second day, the indexes suffered 3-digit losses, today even more so than yesterday, as investors exercised increased caution over the potential fallout from Trump’s coming policies, exacerbated in the last couple of days by the controversial cabinet nominations, particularly RFK as healthcare and especially vax stocks took a tumble. Even defense stocks took a hit over concerns with the new Department of Government Efficiency.  

Wall St indexes end lower after Powell erodes hopes for December rate cut

Wall St indexes end lower after Powell erodes hopes for December rate cut

By Sinéad Carew and Lisa Pauline Mattackal

Thu November 14, 2024 4:31 PM

All it took was the smallest hint from Powell today that the Fed “need not rush to ease monetary policy” to send all three indexes on a steady stream downwards from the open with both the Dow and Nasdaq going into 3-digit losses. The Richmond Fed prez also remarked that the possible coming tariffs could make the Fed more cautious. So, despite the fact that PPI came in almost exactly the same as yesterday’s CPI which propped up enthusiasm, today that same enthusiasm got squashed with the odds of a December rate cut falling to 62% vs yesterday’s 85% vs Monday’s 59%.  

Wall Street ends mixed while inflation data keeps Fed rate-cut hopes intact

Wall Street ends mixed while inflation data keeps Fed rate-cut hopes intact

By Sinéad Carew and Purvi Agarwal

Wed November 13, 2024 4:54 PM

CPI came in exactly as expected and, though it rose 0.2% for the fourth straight month (2.6% annual), it did not rise more than forecast which was good news for the markets in terms of rate cuts, now putting the odds for ¼ point December cut at 82%, up from 59% just two days ago. But the three indexes went through a wild rollercoaster ride today with the Dow swinging back and forth in a 300-point range, opening in the red but reaching a height of a +230 by 1 pm before declining to very modest gains by close. The bottom line for the day was “relief inflation didn’t come in ahead of expectations.” And for the sixth day, volume came in considerably above the 13.46 billion average, today closing with 16.49 billion shares traded.

DJ: 43,910.98  -382.15       NAS: 19,281.40  -17.36       S&P: 5,983.99  -17.36       11/12

DJ: 43,958.19  +47.21        NAS: 19,230.74  -50.56       S&P: 5,985.38  +1.39        11/13

Wed 11-13-24 4:54 pm Wall Street ends mixed while inflation data keeps Fed rate-cut hopes intact | Reuters

Wall Street indexes dip with focus on Trump policies, economic data

Wall Street indexes dip with focus on Trump policies, economic data

By Sinéad Carew and Lisa Pauline Mattackal

Tue November 12, 2024 5:11 PM

The Trump rally appears to be losing steam as investors today have focused on the potential negative impact of his economic policies stoking more inflation and hampering growth. Ahead of inflation data coming later this week (CPI, PPI and retail sales) and trying to hedge bets against weak reports, all three indexes went into a substantial decline all morning with a particularly strong dip between 12:30 and 1:30 before at least tech recovered to near break-even.  

S&P 500 posts record high close, Trump-linked stocks

S&P 500 posts record high close, Trump-linked stocks

By Lisa Pauline Mattackal and Purvi Agarwal

Mon November 11, 2024 12:31 PM

On this Veterans Day, it was yet another day of jubilation following Trump’s victory with the Dow jumping 500 points right out the gate and S&P up 23. Then all the indexes took a sharp dive at 1 pm but recovered an hour later. The tech indexes had more of a struggle but all three ended with gains, the Dow especially closing up 304. The Dow’s surge, resulting in yet another record close, is attributed to stocks expected to benefit from Trump’s proposed policies.  

S&P 500 breaks 6,000 level as Trump and Fed-fueled rally advances

S&P 500 breaks 6,000 level as Trump and Fed-fueled rally advances

By Chuck Mikolajczak

Fri November 8, 2024 5:07 PM

It was a fourth straight day of gains all around with the Dow surpassing 44,000 around 2:30 p.m. and the S&P scaling the 6,000 mark at the same time. In fact all the indexes reached substantial gains by mid-afternoon only to then start declining and losing a good chunk of those gains by close. (There was no explanation for the afternoon slide.) Still, it was a respectable day with the market continuing to ride high on the expected benefits from a Trump presidency.  

Stocks close higher after Fed cuts interest rates

Stocks close higher after Fed cuts interest rates

By Chuck Mikolajczak

Thu November 7, 2024 4:27 PM

After yesterday’s enormous rally as investors expected benefits from a second Trump administration, the Dow ranging back and forth several times between a -90 and a +90 but closing flat, while the tech indexes shot up once again, this time because of a new ¼ point rate cut announced today by the Fed. Relatively stable employment numbers showed the economy was remaining quite resilient.  

Stocks surge to record highs as Trump returns to presidency

Stocks surge to record highs as Trump returns to presidency

By Chuck Mikolajczak

Wed November 6, 2024 6:01 PM

Wall Street certainly loved the fact that Donald Trump is now President-Elect as both tech indexes had very substantial 3-digit gains and the Dow zoomed huge at more than 1500 points, all reaching these record highs right out the gate and stayed on the rise all day. It was the biggest one-day percentage gains in two years as investors expected lower taxes and deregulation. The VIX dropped to a six-week low of 16.27. Volume was enormous at 18.68 billion, way above the 12.16 average and this time not because of triple-witching.

DJ: 42,221.88  +427.28      NAS: 18,439.17  +259.18      S&P: 5,782.76  +70.07        11/5

DJ: 43,729.93  +1,508.05   NAS: 18,983.47  +544.29      S&P: 5,929.04  +146.28      11/6

 Wed 11-6-24 6:01 pm Stocks surge to record highs as Trump returns to presidency | Reuters

Stocks jump on Election Day as investors eye outcome

Stocks jump on Election Day as investors eye outcome

By Chuck Mikolajczak

Tue November 5, 2024 4:32 PM

Today was another vivid demonstration of the schizophrenic nature of this market since, though little has changed since yesterday’s big slide, today there was a really big rally as the market decided the odds were once again favoring a Trump victory. It was a steady upward swing from the open to close with chunky 3-digit gains all around. But have the odds really changed at all since yesterday? All the polls still show an exceedingly tight 50/50 race.  

Wall St slips as uncertainty surrounds U.S. election

Wall St slips as uncertainty surrounds U.S. election

By Chuck Mikolajczak

Mon November 4, 2024 6:16 PM

Most of the market spent most of the day in the red as the indexes bounced up and down in the red like crazy over election uncertainty. Wall Street favors Trump so when the new Iowa poll (that always goes Republican) came out favoring Harris, the indexes kept going down. One hour there would be good news about Trump, the next about Harris, not a good day for trend-followers. Uncertainty was heightened by the wide expectation that it will be at least a few days before a victor is declared.  

Wall St closes higher as Amazon's gains offset weak job growth

Wall St closes higher as Amazon's gains offset weak job growth

By Abigail Summerville

Fri November 1, 2024 4:36 PM

Yesterday’s panic over uncertain costs for AI and today’s weak jobs report showing almost no growth compared to September was more than compensated today by a glowing Amazon report showing strong retail, besides which the jobs report was admittedly watered down by the combo of the Boeing strike and the two mega-hurricanes, all of which are big anomalies. Election uncertainty remains dominant but bets are still strong for a ¼ point November rate cut. The new month seems to be offering renewed optimism as reflected in the 12.13 billion volume vs 11.7 billion average. 

DJ: 41,763.46  -378.08      NAS: 18,095.15  -512.78      S&P: 5,705.45  -108.22        10/31

DJ: 42,052.19  +288.73     NAS: 18,239.92  +144.77     S&P: 5,728.80  +23.35          11/1

Fri 11-1-24 4:36 pm Wall St closes higher as Amazon's gains offset weak job growth | Reuters

Wall St ends lower as Meta, Microsoft highlight AI costs

Wall St ends lower as Meta, Microsoft highlight AI costs

By Abigail Summerville

Thu October 31, 2024 4:00 PM

The Magnificent Seven did not deliver as hoped when both Microsoft and Meta announced that AI expenses were growing into basically a blank check and this brought into new doubt the profit potential of this new market that has sustained the megacap rally all year. This news also brought down Amazon, Apple and Google. Investors like to know what expenses will be so they can calculate profits and today they found out that these megacaps don’t know. Thus, all the indexes came way down, all taking substantial 3-digit hits. PCE came in very close to forecast which continues to lock in the bets for a ¼ point cut in November. Volatility is expected to continue in the next few weeks as Q3 continues and the election results unravel.  Per the CBOE, volume came in at 13.3 billion, considerably above the 4-week average. 

DJ: 42,141.54  -91.51       NAS: 18,607.93  -104.82      S&P: 5,813.67  -19.25         10/30

DJ: 41,763.46  -378.08     NAS: 18,095.15  -512.78      S&P: 5,705.45  -108.22       10/31

 Thu 10-31-24 4:00 pm Wall St ends lower as Meta, Microsoft highlight AI costs | Reuters

Stocks fall with chipmakers, gold hits record high

Stocks fall with chipmakers, gold hits record high

By Caroline Valetkevitch

Wed October 30, 2024 5:05 PM

Google’s after-hours glowing Q3 yesterday was more than negated by today’s dismal Q3 from AMD, which brought all of tech and particularly the chipmakers down. Google did lay its claim to the market in the morning hours, the Dow rising over 200 before noon, the Nasdaq over 75, but then both steadily decline at the noon hour and for the rest of the session. More major Magnificent Seven reporting tomorrow and with today’s glowing payrolls report, all eyes will be on Friday’s jobs report, though truth be told the payrolls report may be overstated due to the hurricanes. Treasury yields also started rising again from the strong payrolls report.  Per the CBOE, volume came in at 12.5 billion. 

DJ: 42,233.05  -154.52       NAS: 18,712.75  +145.56      S&P: 5,832.97  +9.45           10/29

DJ: 42,141.54  -91.51         NAS: 18,607.93  -104.82       S&P: 5,813.67  -19.25          10/30

Wed 10-30-24 5:05 pm Stocks fall with chipmakers, gold hits record high | Reuters

Nasdaq hits record high as Alphabet earnings beat estimates

Nasdaq hits record high as Alphabet earnings beat estimates

By Abigail Summerville

Tue October 29, 2024 4:44 PM

A slew of corporate earnings came in today triggering a rise in the tech sector even though the biggest player, Alphabet/Google, came in after the bell with estimate busting earnings but since it was after the bell, today’s record Nasdaq high can hardly be attributed to it. A sharp spike in consumer confidence, 10% above estimates, might have sparked some more risk-taking in tech as well.  However, the 10-year Treasury once again rose, today to its highest since July, which brought the Dow down. Volume was above the 11.5 billion average, today coming in at 12.59 billion. 

DJ: 42,387.57  +273.17      NAS: 18,567.19  +48.58      S&P: 5,823.52  +15.4          10/28

DJ: 42,233.05  -154.52       NAS: 18,712.75  +145.56    S&P: 5,832.97  +9.45          10/29

Tue 10-29-24 4:44 pm Nasdaq hits record high as Alphabet earnings beat estimates | Reuters

Wall Street closes higher ahead of megacap earnings, election

Wall Street closes higher ahead of megacap earnings, election

By Abigail Summerville

Mon October 28, 2024 4:34 PM

So when the Israelis attacked Iran, they stuck mostly to missile sites and spared the refineries. This message that there would not be any energy disruptions boosted market sentiment today sending the Dow up 3-digits as well as giving the tech indexes modest gains. A lot of big news is coming this week including most of the Magnificent Seven Q3 and the all-critical PCE.  As for the election, the markets are leaning towards a Trump victory but, with the race being as tight as it is, such a bet is admittedly far from certain. 

DJ: 42,114.40  -259.96       NAS: 18,518.61  +103.12      S&P: 5,808.12  -1.74       10/25

DJ: 42,387.57  +273.17      NAS: 18,567.19  +48.58        S&P: 5,823.52  +15.4      10/28

Mon 10-28-24 4:34 pm Wall Street closes higher ahead of megacap earnings, election | Reuters

Nasdaq closes higher ahead of a heavy week of earnings

Nasdaq closes higher ahead of a heavy week of earnings

By Lisa Pauline Mattackal, Purvi Agarwal and Carolina Mandl

Fri October 25, 2024 4:38 PM

The day started on a high across all the indexes, tech doing especially well with the Nasdaq and S&P way up in the morning, the Nasdaq some 275 points at 10 a.m., then all three sliding to lose all their gains by close except the Nasdaq which still closed in the black but by only 1/3 of what it started with. Much of the tech run up was the market still riding the wave of Tesla’s surge, which trickled into Amazon, Apple and Microsoft. And much of the dip was a consequence of once again the yield on the 10-year Treasuries rising, once again giving concerns that we’re cutting rates too quickly.  

Nasdaq, S&P end higher as Tesla jumps, yields pull back

Nasdaq, S&P end higher as Tesla jumps, yields pull back

By Lisa Pauline Mattackal, Purvi Agarwal and Carolina Mandl

Thu October 24, 2024 7:28 PM

The Dow spent the whole day in the red but both techs had a resurgence and were in the green, though all three experienced a sharp dip around 11 a.m. and reached a bottom around noon, the Dow down over 300 by noon, then rebounded to recoup most of the dip on all three by 2 p.m.  Tesla turned in a glowing Q3 which shot all the rest of tech right up while disappointing Q3 from bellwethers IBM, Honeywell and Boeing brought the Dow down. And just as rising 10-year yields weighed on the market yesterday, falling yields boosted everything today. About 1/3 of the S&P has now reported with 78.6% beating estimates. At 11 billion, today’s volume was still a bit below the 11.6 billion average. 

DJ: 42,514.95  -409.94       NAS: 18,276.65  -296.47      S&P: 5,797.42  -53.78          10/23

DJ: 42,374.36  -140.59       NAS: 18,415.49  +138.83     S&P: 5,809.86  +12.44         10/24

Thu 10-24-24 7:28 pm Nasdaq, S&P end higher as Tesla jumps, yields pull back | Reuters

Wall Street closes down, pressured by tech losses and worries about rates

Wall Street closes down, pressured by tech losses and worries about rates

By Lisa Pauline Mattackal, Purvi Agarwal and Carolina Mandl

Wed October 23, 2024 4:35 PM

It was another straight shot down on all the indexes as, after a long streak of record breaking highs, investors are pulling some profits out of the market leading to another day of substantial 3-digit losses all around. That combined with still rising Treasury yields has left even more doubts about future rate cuts. Yesterday, the sentiment was that the Fed had rushed too quickly into rate cuts; today the same rising yields have left concerns that they may now slow down the cuts too much. There is also the continuing concern about coming volatility from lofty valuations and whether earnings will justify them and, of course, the election. Volume was for a change above the 11.29 billion 4-week average, coming in at 11.83 billion. 

DJ: 42,924.89  -6.71         NAS: 18,573.13  +33.12       S&P: 5,851.20  -2.78          10/22

DJ: 42,514.95  -409.94     NAS: 18,276.65  -296.47      S&P: 5,797.42  -53.78        10/23

Wed 10-23-24 4:35 pm Wall Street closes down, pressured by tech losses and worries about rates | Reuters

Wall St closes little changed while investors digest yields, earnings

Wall St closes little changed while investors digest yields, earnings

By Lisa Pauline Mattackal, Purvi Agarwal and Carolina Mandl

Tue October 22, 2024 4:35 PM

All three indexes started the day substantially in the red, the Dow down over 200 points, but began an immediate and steady recovery yet taking until mid-afternoon to break-even and then closing with only tiny losses. Yesterday, was a breather day, today brought more caution awaiting more earnings, the expected volatility from the election, and a new development – rising yields on the 10-year Treasuries indicating the Fed may have jumped the gun with the huge ½ point September cut and that a smaller, more gradual schedule may be in order. Odds of a ¼ point November cut now stand at 89.6%.  Earnings continue to be good despite a few disappointments today. More due tomorrow. Volume today at 11.45 billion was for once close in line with the 11.28 average. 

DJ: 42,931.60  -344.31       NAS: 18,540.01  +50.45       S&P: 5,853.98  -10.69         10/21

DJ: 42,924.89  -6.71           NAS: 18,573.13  +33.12       S&P: 5,851.20  -2.78           10/22

Tue 10-22-24 4:35 pm Wall St closes little changed while investors digest yields, earnings | Reuters

Dow, S&P end down as Treasury yields rise, investors eye earnings

Dow, S&P end down as Treasury yields rise, investors eye earnings

By Lisa Pauline Mattackal, Purvi Agarwal and Carolina Mandl

Mon October 21, 2024 4:27 PM

All three indexes took huge dives this morning only to recover most losses by close. The exception was the Dow that took a particularly big 3-digit dive and then stayed there all day.  But nary a worry, not after six straight weeks of gains and a string of record highs, the consensus being that a pullback is quite normal after such a substantial run up.