Sunday, July 3, 2022
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Stocks

Broader Stock Indexes Slip as Nasdaq Hits Record

MtR by MtR
June 23, 2021
in Stocks
0


The tech-heavy Nasdaq Composite claimed a second consecutive record Wednesday while broader stock indexes slipped in a quiet trading session.

Related articles

Here’s What I Learned Investing in Stocks for a Full Year

July 3, 2022

Nigerian Stock Market end first half of 2022 as one of the best in the world

July 3, 2022

With major indexes trading near all-time highs, investors are parsing signals about the path of the economy and the intentions of the Federal Reserve as they consider how much more of a rally might be in store.


Newsletter Sign-up

Markets

A pre-markets primer packed with news, trends and ideas. Plus, up-to-the-minute market data.


The S&P 500 fell 4.60 points, or 0.1%, to 4241.84, off 0.3% from its record close last week. The Dow Jones Industrial Average dropped 71.34 points, or 0.2%, to 33874.24. The Nasdaq Composite gained 18.46 points, or 0.1%, to 14271.73, its 16th record close of 2021.

For much of this year, stocks have surged from their pandemic-induced lows, buoyed by a strengthening economy, supportive monetary policy and plentiful government spending. The S&P 500 has gained 90% since its closing low in March 2020.

Investors are struggling to discern the path forward and have lately focused on signs of inflation, which could lead the Fed to lift interest rates from the near-zero levels adopted in response to the Covid-19 pandemic. Low rates boost the value of future cash flows in commonly used stock valuation models.

For much of this year, stocks have surged from their pandemic-induced lows.



Photo:

Nicole Pereira/Associated Press

Stocks sold off last week after Fed officials signaled that they expect to raise interest rates by late 2023, sooner than they had previously anticipated, because of the strong economic rebound and jump in inflation.

But major indexes have rebounded this week, with many investors noting that a strong economy should support stocks, even if interest rates eventually rise. Fed Chairman

Jerome Powell

reiterated Tuesday that the recent increase in inflation will likely prove temporary.

“I think the market’s still wrestling with where are we in terms of the Fed,” said Cliff Corso, president and chief investment officer at Advisors Asset Management. ”The market’s looking for the economic clues day by day and then probably trying to graft those clues onto the projection for the Fed’s mentality.”

Energy stocks posted gains Wednesday as Brent crude, the global oil benchmark, rose 0.5% to $75.19 a barrel. The consumer discretionary and financial sectors of the S&P 500 also rose.

As the market rally stretches on, investors continue to evaluate different sectors and types of companies. For the year so far, value stocks—which tend to have a low price relative to their overall value—have gained more than growth stocks.

The Federal Reserve is considering digitizing the dollar, giving people money they can access on their phone and bypassing electronic payments that can be slow and costly for businesses.

But within the second quarter it has been a different story, with the Russell 1000 Growth Index up 9.9%, compared with a 3.8% rise in the Russell 1000 Value Index.

“Investors might be consolidating gains because there’s really not much more room in terms of the reopening trade,” said Anu Gaggar, senior global investment analyst at Commonwealth Financial Network.

Another possible message from the rotation, she said, is that the market is concerned that the Fed could overdo interest rate increases and stifle the pace of economic growth, hurting some economically sensitive value stocks.

Among individual stocks Wednesday, shares of Fannie Mae and Freddie Mac plunged more than 30% after the Supreme Court rejected most claims by investors who challenged a government decision to channel the mortgage giants’ profits to the Treasury Department.

In bond markets, the yield on the 10-year U.S. Treasury note rose to 1.486%, from 1.471% on Tuesday. Yields rise as bond prices fall.

Overseas, the Stoxx Europe 600 dropped 0.7%. Japan’s Nikkei 225 closed down less than 0.1%, while Hong Kong’s Hang Seng Index gained 1.8%.

Write to Joe Wallace at Joe.Wallace@wsj.com and Karen Langley at karen.langley@wsj.com

Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8



Source link

Related Posts

Here’s What I Learned Investing in Stocks for a Full Year

by MtR
July 3, 2022
0

If you've been paying even the slightest bit of attention to the stock market, you know that it's way down...

Nigerian Stock Market end first half of 2022 as one of the best in the world

by MtR
July 3, 2022
0

The Nigerian All Share Index closed the first half of 2022 with a gain of about 21.17% year to date...

Stock Picks to Buy, Recession Investing Advice From BofA

by MtR
July 3, 2022
0

Stocks endured a brutal first half of 2022 as investors felt a recession was getting more likely.  Jill Carey Hall...

Global factors, crude oil, macro data to drive stocks this week: Analysts

by MtR
July 3, 2022
0

Stock markets would be driven by domestic macroeconomic data, global trends, crude oil movement and FII...

Top Piotroski-Graham Long Term Value Stocks: July 2022 Semi-Annual Selections

by MtR
July 3, 2022
0

SCStock/iStock Editorial via Getty Images Top Piotroski-Graham Long Term Value Stocks: July 2022 Semi-Annual Selections These selections continue as ongoing...

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021
Fed tapering and emerging markets

Fed tapering and emerging markets

June 7, 2021
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

Belagavi Postal Division Tops In Gold Bond Sale | Hubballi News

July 3, 2022

Record Breakers: Four key commodity predictions from Canberra’s pen-pushers

July 3, 2022

Mahathir: Deeper currency markets have cut risk of Asian financial crisis repeat – Nikkei Asia

July 3, 2022

4 men convert duped money into cryptocurrency to hide trail, held

July 3, 2022

Recent News

Belagavi Postal Division Tops In Gold Bond Sale | Hubballi News

July 3, 2022

Record Breakers: Four key commodity predictions from Canberra’s pen-pushers

July 3, 2022

Mahathir: Deeper currency markets have cut risk of Asian financial crisis repeat – Nikkei Asia

July 3, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter