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S&P 500 and Dow Jones Sets Record The Dow Jones Industrial Average rose 297.03 points, or 0.89 percent, to 33,800.6, the S&P 500 gained 31.63 points, or 0.77 percent, to 4,128.8 The rise was partly due to growth stocks finding their footing (after being outperformed by value stocks for a good part of the year). Investors received encouragement to invest in growth stocks as a pullback in U.S. Treasury yield
Market Blog

The Bulls and the Bears Fight For their Mark on Wall Street

Is it over for the tech giants of 2020? U.S. stocks hit a vortex of volatility as markets rallied constant upswings and downswings for the week. Technology stocks continue to make losses as the riders of 2020 lose investor confidence, and higher bond yields continue to lure investors away from the equity market and closer to the bond market.  Investor fervour has been settled in recent days as the U.S.
Investing Market Blog

Higher bond yields bring Wall Street rally to a screeching halt

If you thought worries about higher bond yields were behind us, the equity market’s performance last week just proved you wrong. Yields firmed yet again, despite the U.S. central bank signalling a continued low-rate regime. And this weighed on Wall Street’s key indexes too. The Dow (DJI) and the S&P 500 (GSPC) shed 0.5% and 0.8% each — snapping a two-week winning streak. The Nasdaq (IXIC), meanwhile, closed the week
Market Blog

Bulls roar on Wall Street as Dow scales fresh peaks

The Dow (DJI) hit five straight record highs; the S&P 500 (GSPC) and the Nasdaq (IXIC) witnessed biggest weekly rises since early-February. Why? U.S. President Joe Biden’s $1.9-trillion COVID-19 relief bill was approved last week. It is dubbed to be one of the largest economic stimulus in American history.  That pushed investors to mop up growth-oriented shares, helping the Dow add 4.1% for the week. The S&P 500 and the Nasdaq added 2.6% and 3.1%,
Market Blog

Nasdaq sees third straight weekly loss, down over 8% from Feb highs

U.S. stocks witnessed a volatile week as a tech-led sell-off weighed on the markets, although a shift to cyclicals in a recovering economy helped limit losses and stay afloat. Concerns about rising bond yields jittered investors who were worried about a tightening of monetary policy. The weakness intensified after Federal Reserve Chair Jerome Powell failed to quell investors’ worries around higher yields. Towards, the end of the week, however, markets
Market Blog

JNJ’s Single Dose Vaccine gets FDA Approval

Shares on Wall Street recorded a negative close as firming U.S. Treasury yields outweighed optimism about an improvement in the country’s economy. The Dow Jones (DJI) shed 1.8% for the week, while the S&P 500 (GSPC) and the Nasdaq (IXIC) slid 2.45% and 4.9%, respectively. Major tech names such as Apple (AAPL), Amazon (AMZN), Facebook (FB) and Tesla (TSLA) dropped throughout all sessions during the week, with stocks recording losses
Market Blog

S&P 500, Nasdaq close with weekly losses; Facebook-Australia row intensifies

Wall Street’s main indexes closed on a subdued note last week, with the Nasdaq (IXIC) shedding over 1.5%, the Dow Jones (DJI) adding just about 0.1%, and the S&P 500 (GSPC) falling by 0.7% for the week. The week started on a strong note, with indexes hitting record highs, as strong earnings, hopes for a stimulus package and progress in vaccination rollouts propelled the markets. However, some profit-taking towards the
Market Blog

Dating Apps Show Stellar Performance In the Past Week

Markets were on the uptick last week, as the S&P 500 (GSPC), the Dow Jones Industrial Average (DJI), and Nasdaq (IXIC) gained 1.2%, 1%, and 1.7% respectively. The indexes are all in slightly positive territory so far in 2021 after having rallied tumultuously last year. These major indexes notched a second week of gains and reached record highs, seemingly helped by the accelerating rollout of coronavirus vaccines and declining case
Market Blog

S&P 500 Records It’s Best Weekly Performance Since November

Wall Street’s main indexes put on a strong show last week, with the S&P 500 recording its best week since November. For the week, the benchmark index rose 4.65%, while the Nasdaq posted its best week since November 6, 2020. Markets focused on corporate earnings and progress in vaccine rollouts, with the U.S. coronavirus package on investors’ radar as President Joe Biden seeks to pass his $1.9 trillion recovery plan.
Market Blog

GameStop Steals Spotlight Amid Wall Street’s Subdued Performance

Wall Street’s main indexes closed a stormy week on a lower and a volatile note that comprised a David vs Goliath battle between retail investors and major financial institutions holding short positions on stocks such as GameStop (GME). The likes of GameStop and AMC Entertainment (AMC) were at the centre of the retail-buying frenzy, worrying analysts of such trades spilling over to other names. An army of retail investors traded