LEIBOVIT VR NEWSLETTERS – ‘TURNAROUND TUESDAY’ – AUGUST 13, 2024
https://www.howestreet.com/2024/08/us-industrial-production-drop-a-concern-mark-leibovit/
U.S. Stocks Fluctuate Before Closing Little Changed
Stocks fluctuated over the course of the trading session on Monday before eventually ending the day little changed. The major averages bounced back and forth across the unchanged line and finished the session narrowly mixed.
While the Dow dipped 140.53 points or 0.4 percent to 39,357.01, the S&P 500 inched up 0.23 points or less than a tenth of a percent to 5,344.39 and the Nasdaq rose 35.31 points or 0.2 percent to 16,780.61.
The choppy trading on Wall Street came as traders seemed reluctant to make significant moves ahead of the release of several key U.S. economic reports later this week.
The Labor Department is scheduled to release reports on producer and consumer price inflation on Tuesday and Wednesday, respectively, with the data likely to impact the outlook for interest rates.
The reports are expected to show a slowdown in the annual rate of price growth, which could provide further impetus for the Federal Reserve to lower rates.
The Fed is widely expected to cut interest rates next month, with CME Group’s FedWatch Tool currently indicating a split regarding the probability of a quarter or half point […]
LEIBOVIT VR NEWSLETTERS – MONDAY – AUGUST 12, 2024
https://www.howestreet.com/2024/08/us-industrial-production-drop-a-concern-mark-leibovit/
Following the rally seen during Thursday’s session, stocks turned in a relatively lackluster performance during trading on
Friday but managed to end the day mostly higher.
The major averages finished the session off their highs of the day but still in positive territory. The Dow edged up 51.05
points or 0.1 percent to 39,497.54, the Nasdaq climbed 85.28 points or 0.5 percent to 16,745.30 and the S&P 500 rose 24.85
points or 0.5 percent to 5,344.16.
The higher close on Wall Street came as stocks continued to recover from recent selling sparked by concerns about the
outlook for the U.S. economy.
With the upward move seen over the course of the session, the Nasdaq and the S&P 500 largely offset the steep losses posted
on Monday, closing only slightly lower for the week.
For the week, the S&P 500 edged down by less than a tenth of a percent and the Nasdaq dipped by 0.2 percent, while narrower
Dow slid by 0.6 percent.
The major averages still remain well off their recent highs after also moving sharply lower last Thursday and Friday.
Traders may have been reluctant to make more significant moves amid a lack […]
