Wall St ends sharply higher as selloff prompts dip-buying rally
By Stephen
Culp
Thu March 14, 2025 4:27 PM
Finally, finally! Despite all the problems that remain out there, the market has finally gone low enough that investors felt comfortable picking up bargains and buying on the dip which I’m sure everybody hopes means that, despite both the S&P and Nasdaq being in correction and despite the continuing brutal uncertainty over the tariff wars, that maybe the indexes won’t go much lower. So today we had fantastic mid-to-upper range 3-digit gains across the board for the best single day since the day after the election when elation due to hopes of a better economy ruled. But it was still the fourth straight week of losses for the S&P and Nasdaq and six of the Magnificent 7 remain down for the year.
As today’s expert gave us this reality check, “The market doesn’t like the tariff stuff, the added uncertainty that keeps them from planning and making decisions. It’s unsettling, indecisive, it’s bad for the economy and bad for the stock market.” There are also other wayward fundamentals. The U of M Consumer Sentiment survey shows anxieties at their highest levels in two years with consumers expecting inflation to spike to 4.9% this year. This week’s Reuters/Ipsos poll shows 57% of Americans believe Trump will do more harm than good. And to top it all off, just since yesterday, gold has surged from $2,293/oz to an all-time record above the critical benchmark of $3,000/oz for the first time. Volume was below the 16.56 billion average, coming in at 14.64 billion.
DJ: 40,813.57 -537.36 NAS: 17,303.01
-345.44 S&P: 5,521.52
-77.78 3/13
DJ: 41,488.19 +674.62 NAS: 17,754.09
+451.07 S&P: 5,638.94
+117.42 3/14
No comments:
Post a Comment