EEMA

On Wednesday, July 24th, the U.S. stock markets closed lower, with the S&P 500 and Nasdaq hitting multi-week lows as disappointing Alphabet (NASDAQ:GOOG) and Tesla (NASDAQ:TSLA) earnings shook investor confidence in megacap stocks. This led to the S&P 500’s largest daily drop since December 2022 and the Nasdaq’s since October 2022. In economic data, the S&P Global composite PMI rose to 55.0 in July. The U.S. trade deficit in goods decreased to $96.84 billion in June, while new home sales fell 0.6% to an annualized rate of 617,000. The S&P 500’s sectors largely closed negative, with information technology, communication services, and consumer discretionary seeing the biggest losses,

On Tuesday, July 23rd, U.S. stock markets closed in the red, losing modest gains as investors shifted their focus to earnings from Alphabet (NASDAQ:GOOG) and Tesla (NASDAQ:TSLA). Both companies reported positive Q2 revenue, with Tesla’s increase driven by higher vehicle deliveries and Alphabet’s by increasing ad sales and cloud demand. According to economic data, the U.S. Fifth District’s composite manufacturing index fell to -17 in July, down from -10 in June. Additionally, existing home sales decreased by 5.4% to an annualized rate of 3.89 million units in June. Eight major S&P sectors closed in the red, with the energy index being the worst performer as U.S. crude prices reached a s

On Monday, July 22nd, U.S. stock markets closed in green as investors returned to megacap growth stocks. The S&P 500 and Nasdaq Composite rebounded from their worst weekly performance since April, while the Dow Jones Industrial Average ended a two-session decline. According to the economic data, the Chicago Fed National Activity Index fell to 0.05 in June from 0.23, while analysts expected -0.09. Most S&P 500 sectors closed higher, led by communication services, information technology, and industrial stocks, while energy and consumer staples fell. The Dow Jones Industrial Average was up 0.32% and closed at 40,415.44. The S&P 500 gained 1.08%, ending the day at 5,564.41, while the Na

On Friday, July 19th, U.S. stock markets closed lower, with the Dow Jones experiencing the most considerable decline. U.S. stocks fell due to a global tech outage caused by a glitch in Crowdstrike’s (NASDAQ:CRWD) software, affecting Microsoft’s Windows system and disrupting multiple industries. In economic data, Baker Hughes reported that the total number of active oil rigs in the U.S. decreased by one this week, bringing the count to 477 rigs. Of the 11 major sectors of the S&P 500, energy shares experienced the largest decline, while healthcare and utilities were the only sectors to post gains. The Dow Jones Industrial Average was down 0.93% and closed at 40,287.53. The S&P 500 de

On Thursday, July 18, U.S. stock markets closed lower, reversing early gains as investors moved away from high-priced megacap growth stocks amid second-quarter earnings season. All major indexes dropped, with the Dow breaking its streak of record highs. S&P 500 sectors closed mostly negative, with healthcare, consumer discretionary, and financials suffering the largest losses. Energy stocks, however, closed higher. According to economic data, U.S. initial jobless claims rose by 10,000 to 243,000 for the week ending July 13, exceeding estimates of 230,000. The Philadelphia Fed Manufacturing Index increased to 13.9 in July, up from 1.3 in June, marking a three-month high. The Dow Jone

On Wednesday, July 17th, U.S. stock markets closed mixed. The S&P 500 and Nasdaq fell sharply as microchip stocks plunged 6.8% due to potential U.S. trade restrictions on China, marking the Philadelphia SE Semiconductor index’s biggest drop since March 2020. Economic data showed that U.S. industrial production rose 0.6% in June, beating the 0.3% forecast. Housing starts increased 3% to 1.314 million, and building permits climbed 3.4% to 1.446 million annually. Among the 11 major sectors of the S&P 500, technology and communication services experienced the largest percentage declines, while consumer staples emerged as the leading gainer. The Dow Jones Industrial Average was up 0.59%

On Tuesday, July 16th, U.S. stock markets closed higher, with the Dow Jones Industrial Average hitting a record high after U.S. retail sales data suggested the Federal Reserve is nearing the end of its easing cycle, controlling inflation without causing a recession. In economic data, U.S. retail sales remained flat in June compared to a revised 0.3% increase in the previous month. Import prices were unchanged from the prior month, while export prices in the U.S. fell by 0.5% in June. Among the 11 major sectors in the S&P 500, industrials saw the highest percentage gains, while technology and communication services were the only two sectors to close in negative territory. The Dow Jon

On Monday, July 15th, U.S. stock markets closed higher, continuing Friday’s rally, as hopes for a second Trump presidency and a looser regulatory environment rose after a failed assassination attempt. Although all three major U.S. stock indexes closed significantly below their intraday peaks, the Dow Jones Industrial Average achieved a record closing high. According to the economic data, the NY Empire State Manufacturing Index fell to -6.6 in July, below the expected -6. Energy shares had the largest gain among the 11 S&P 500 sectors, while utilities lagged. The Dow Jones Industrial Average was up 0.53% and closed at 40,211.72. The S&P 500 gained 0.28%, ending the day at 5,631.22, a

On Friday, July 12th, U.S. stock markets closed higher, with the S&P 500 and Dow hitting record highs on expectations of a Fed rate cut. Major banks fell on mixed results, while Apple and Nvidia both saw gains. In economic news, June’s headline PPI for final demand rose by 0.2%, surpassing the expected 0.1% increase. The University of Michigan’s consumer sentiment fell for the fourth month, reaching 66 in July from 68.2 in June. All S&P 500 sectors closed higher Friday, with IT, consumer discretionary, and materials leading gains, while communication services closed lower. The Dow Jones Industrial Average was up 0.62% and closed at 40,000.90. The S&P 500 gained 0.55%, ending the day

On Thursday, July 11th, the U.S. stock markets closed mixed. The Nasdaq ended sharply lower, with Nvidia, Apple, and Tesla falling as investors shifted to smaller companies following softer inflation data, which increased expectations of a September Fed rate cut. According to economic data, the U.S. Consumer Price Index slowed more than anticipated in June. Year-over-year, headline CPI inflation decreased from 3.3% in May 2024 to 3% in June 2024, falling short of the 3.1% forecasted by economists. All sectors of the S&P 500 closed positively, with real estate, utilities, and materials leading gains, while IT and communication services stocks fell. The Dow Jones Industrial Average wa

On Wednesday, July 10, U.S. stock markets closed higher, fueled by gains in Nvidia and other major stocks ahead of upcoming inflation data and earnings reports. The Nasdaq and the S&P 500 set consecutive record highs, with the S&P surpassing 5,600 for the first time, driven by Fed Chair Powell’s remarks on a potential September rate cut. In economic data, U.S. wholesale inventories rose by 0.6% in May, up from a 0.2% increase the previous month. All 11 S&P 500 sector indexes rose, with information technology leading the gains, followed by materials. The Dow Jones Industrial Average was down 1.09% and closed at 39,721.36. The S&P 500 gained 1.02%, ending the day at 5,633.91, and t

On Tuesday, July 9th, U.S. stock markets closed mixed, with the S&P 500 and Nasdaq hitting record highs. The gains were driven by Nvidia’s 2.5% rise following Fed Chair Jerome Powell’s comments that positive economic data could lead to rate cuts. NVIDIA (NASDAQ:NVDA) shares rose by 2.5% after Keybanc analyst John Vinh reiterated an Overweight rating and raised the price target from $130 to $180. The majority of S&P 500 sectors closed higher, led by financials, health care, and utilities, while energy and materials stocks ended lower. The Dow Jones Industrial Average was down 0.13% and closed at 39,291.97. The S&P 500 gained 0.07%, ending the day at 5,576.98, and the Nasdaq Composite

On Monday, July 8th, U.S. stock markets closed mixed, with the S&P 500 and Nasdaq reaching record highs as investors anticipated upcoming inflation data, Federal Reserve Chair Jerome Powell’s comments, and the start of the earnings season. Out of the 11 S&P 500 sector indexes, six fell, with communication services leading the decline, while information technology and materials stocks ended the session higher. Paramount Global fell 5.3% after announcing a merger with Skydance Media. Boeing gained 0.55% after agreeing to plead guilty to a fraud charge and paying a $243.6 million fine related to the 737 MAX crashes. The Dow Jones Industrial Average was down 0.08% and closed at 39,344.7

On Friday, July 5th, the U.S. stock markets closed higher, with the Nasdaq and S&P 500 hitting record highs, driven by weak labor market data that boosted hopes for September rate cuts, leading to significant gains in stocks like Microsoft and Meta Platforms. According to economic data, nonfarm payrolls rose by 206,000 last month, exceeding expectations of 189,000, while the unemployment rate increased from 4% to 4.1%. Average hourly earnings increased by 0.3% month-on-month, down from May’s 0.4%. The majority of sectors on the S&P 500 closed higher on Friday, led by communication services, consumer staples, and consumer discretionary stocks, while energy and industrial stocks closed l

On Wednesday, July 3rd, U.S. stock markets closed mixed. The S&P 500 and Nasdaq reached record highs, driven by hopes of a Federal Reserve rate cut in September due to softening economic data. The Dow Jones Industrial Average fell slightly, impacted by declines in healthcare and consumer stocks. The ADP Employment report and weekly jobless claims data indicated a softening labor market ahead of the highly anticipated non-farm payrolls report. Most S&P 500 sectors closed positively, with leading gains in materials, IT, and utilities, while healthcare and consumer staples declined. The Dow Jones Industrial Average was down 0.06% and closed at 39,308.00. The S&P 500 gained 0.51%, endin

On Thursday, June 20, U.S. stock markets closed mixed as Nvidia retreated from earlier gains, and investors evaluated economic data and Federal Reserve comments for clues on potential interest-rate cuts. According to the economic data, U.S. jobless claims fell by 5,000 to 238,000 in the week ending June 15, slightly above expectations. The four-week moving average rose to 232,750, the highest since September 2023. In May 2024, housing stats dropped 5.5% to 1.27 million, below forecasts, and building permits fell 3.8% to 1.386 million. The Philadelphia Fed’s general activity index fell to 1.3 in June, with employment levels continuing to decline despite a slight rise in the employment i

On Tuesday, June 18th, the U.S. stock markets finished in green. The S&P 500 and Nasdaq reached record highs, driven by Nvidia’s surge, while the Dow edged up slightly amid subdued pre-holiday trading and weak U.S. retail sales data. Nvidia (NASDAQ:NVDA) overtook Microsoft (NASDAQ:MSFT) to become the world’s most valuable company, with a market cap of $3.22 trillion. According to economic data, the U.S. retail sales rose 0.1% in May, missing expectations of 0.2%, while industrial production increased by 0.9%, exceeding the forecast of 0.3%. Most S&P 500 sectors closed higher, led by industrials, tech, and financials, while communication services and consumer discretionary stocks end

On Monday, June 17th, the U.S. stock markets finished strong, with the S&P 500 and Nasdaq achieving record highs. This was driven by a surge in technology stocks amid excitement over artificial intelligence. Apple and Microsoft bounced back from initial dips. Economic indicators showed improvement as the NY Empire State Manufacturing Index increased to -6 in June from -15.6 in May, surpassing market expectations of -12.50. The S&P 500’s sectors mostly finished higher, with industrials, information technology, and consumer discretionary stocks leading the gains, while utilities and real estate sectors lagged behind. The Dow Jones Industrial Average was up 0.49% and closed at 38,778.1

On Friday, June 14th, the U.S. stock markets showed mixed results. The Nasdaq achieved a record high for the fifth consecutive day, propelled by gains in Adobe and other tech stocks. In contrast, both the S&P 500 and Dow closed slightly lower. Economic data showed a decline in University of Michigan consumer sentiment to 65.6 in June, its lowest since November, and U.S. import and export prices fell by 0.4% and 0.6%, respectively, in May. Several sectors on the S&P 500 closed in the red, with industrials, materials, and energy recording the biggest losses, although information technology and communication services stocks managed to end the session higher. The Dow Jones Industrial Av

On Thursday, June 13th, U.S. stock markets closed mixed, with the Nasdaq and S&P 500 reaching record highs for the fourth consecutive session, fueled by advances in technology and subdued inflation data, despite lower U.S. Treasury yields and moderated expectations for Federal Reserve rate cuts. According to economic data, U.S. producer prices dropped 0.2% in May, defying expectations of a gain, while initial jobless claims rose to 242,000, exceeding forecasts. The Federal Reserve held interest rates steady but hinted at fewer rate cuts ahead. Most S&P 500 sectors fell, led by declines in communication services, energy, and industrials, while information technology and real estate stoc

On Wednesday, June 12th, U.S. stock markets closed mixed as the S&P 500 and Nasdaq hit record highs for the third day running, fueled by lower-than-expected inflation data. However, they pulled back from their peaks after the Federal Reserve indicated it plans only one rate cut this year, despite earlier forecasts for three cuts. In economic data, May’s annual CPI inflation dipped to 3.3%, slightly below the expected 3.4%. The Federal Reserve held interest rates steady at 5.25-5.50% for the seventh straight meeting, as expected. Most sectors of the S&P 500 ended higher, led by strong gains in information technology, consumer discretionary, and industrials. However, the energy and co

On Tuesday, June 11th, the U.S. stock markets closed mixed. The S&P 500 and Nasdaq reached record closing highs for the second consecutive day, driven by a surge of over 7% in Apple shares. Investors eagerly anticipated upcoming consumer price data and a Federal Reserve policy announcement. Apple Inc.’s (NASDAQ:AAPL) shares hit new all-time highs after DA Davidson upgraded the stock from Neutral to Buy and raised the price target from $200 to $230, citing AI advancements announced at WWDC 2024 as drivers for an upcoming iPhone upgrade cycle. According to economic data, the NFIB Small Business Optimism Index increased to 90.5 in May, reaching a five-month high from April’s 89.7 and exce

On Monday, June 10th, U.S. stock markets closed higher, with the S&P 500 and Nasdaq narrowly achieving new record highs amid cautious trading ahead of an upcoming consumer price report and a Federal Reserve announcement. Apple shares fell during its annual developer conference, with a focus on AI integration. Meanwhile, Southwest Airlines surged after Elliott Investment disclosed a $1.9 billion stake. Diamond Offshore soared as Noble announced a $1.59 billion acquisition. The Federal Reserve will likely maintain the federal funds rate at 5.25%-5.5% for the seventh consecutive meeting in June, emphasizing the need for more time to ensure inflation meets targets before any rate cuts.

On Friday, June 7th, the U.S. stock markets ended the day lower after a volatile trading session. Stronger-than-anticipated U.S. job figures signaled a robust economy, leading to worries that the Federal Reserve may postpone interest rate cuts, contrary to investor expectations. According to the economic data, May’s U.S. nonfarm payrolls climbed to 272,000, exceeding the expected 180,000 and surpassing April’s 165,000. The unemployment rate rose slightly to 4%, and average hourly earnings increased year-over-year by 4.1%, above the forecasted 3.9%. The S&P 500 closed slightly lower, dragged down by utilities, materials, and communication services, while financials and technology sector

On Thursday, June 6th, U.S. stock markets closed mixed. The S&P 500 and Nasdaq composite dipped marginally, retreating from their recent record highs in anticipation of a major labor report, while the Dow saw a slight increase. After reaching new intraday highs earlier, both indices fell as technology stocks declined. According to the economic data, U.S. initial jobless claims rose to 229,000 last week, surpassing the expected 220,000. Meanwhile, the trade deficit widened to $74.6 billion in April from $68.6 billion in March. The S&P 500 experienced declines due to the utilities and industrial sectors, but these were somewhat mitigated by gains in the consumer discretionary and energy