MONEY MASTER

On July 5, 2024, Wall Street reached new intraday all-time highs, while U.S. Treasurys rallied. This movement followed a nonfarm payrolls report that further supported the case for Federal Reserve interest rate cuts, coming after a mid-week holiday. The benchmark S&P 500 gained 0.29%, reaching 5,553.05 points in midday trading, while the Nasdaq Composite  advanced 0.75% to 18,325.49 points. However, the Dow experienced a slight decline, down 0.19% at 39,234.47 points. Of the 11 S&P sectors, seven were in positive territory. Before the market opened, the U.S. Bureau of Labor Statistics reported that job growth slowed in June, with May's numbers revised lower. Additionally, the unemployment rate increased to 4.1% from 4.0%. According to Wells Fargo's Sarah House, the underlying details indicate a softening U.S. labor market. Mark Zandi, chief economist at Moody's Analytics, emphasized on social media that it is time for the Federal Reserve to cut interest rates. He po...

US stock market surged higher over the past month  and will be looking to Fed for what's next on the table. Just how fast will the Fed raise the interest rate is anybody's guess and it starts from next week. The bullish market is here to stay?  With the recent economic data showing a stronger US economy and relieved concerns of a recession, the S&P500 recovered strongly in February.  The S&P 500 rose 1.6% to 2,022, capping a fourth straight week of gains, the most since November. The gauge finished above its average price during the past 200 days for the first time this year, ending its longest streak below that threshold since 2011. The Dow gained 218 points. The S&P 500 has rebounded more than 10% since a Feb. 11 low and trimmed its 2016 drop to less than 1.2%, after losses of as much as 11% at one time amid concern over China’s economic slowdown and a deepening oil rout. Investor sentiment in the aftermath of the ECB’s announcements, swing...

Wall Street market back on track as oil gain Wednesday off for a good start as Wall Streets goes higher as oil prices up on expectation of freeze output agreement among the major producers. Brent crude hovered above $40 a barrel on Wednesday. However, industry watchers remain skeptical of a sustained recovery in prices due to the oversupply. Reuters reported that at 9:37 a.m. ET, the Dow Jones industrial average was up 45.78 points, or 0.27%, at 17,009.88, the S&P 500 was up 6.14 points, or 0.31%, at 1,985.4 and the Nasdaq Composite index was up 7.63 points, or 0.16%, at 4,656.46. Markets worldwide were lower on Wednesday as investors fretted about global economic conditions ahead of central bank meetings on monetary policies. This was largely due to the disappointing data coming out from China. US economy may seems to have find its footing with the recent data and reports but Asia and Euro zone are not looking so positive with a faltering growth outlook. According...

The US market opened lower on Tuesday as weak Chinese data brings back the fear of a global economic slowdown. Wall Street Reuters reported that China's February trade performance was far worse than economists had expected, with exports tumbling the most in over six years. The data weighed on markets worldwide. It is obvious that people are still very nervous and the market is in such a fragile state that any bad news could easily break it. Crude prices also shed their gains and were down about 2%. Oil has recovered from the 2016 low touched in January, but Goldman Sachs analysts on Tuesday said the recent rally was premature as prices would need to remain lower to help rebalance the market later in the year. At 9:39 a.m. ET, the Dow Jones industrial average was down 84.02 points, or 0.49%, at 16,989.93, the S&P 500 was down 13.35 points, or 0.67%, at 1,988.41 and the Nasdaq Composite index was down 35.30 points, or 0.75%, at 4,672.95. Investors are focusing on da...