Wall Street closed higher on Friday, driven by positive economic data that eased recession concerns. The S&P 500 and Nasdaq 100 are on track for their best week since October 2023, marking their seventh consecutive positive session. Gold soared to a record high, driven by anticipation of potential Federal Reserve rate cuts. Oil prices dipped, however, as ceasefire negotiations in Gaza resumed.
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US stock markets closed higher on Thursday, with the Nasdaq leading the gains, buoyed by robust July retail sales data that alleviated fears of an impending recession. Walmart, Cisco Systems, and Nike were among the notable movers, while bond yields rose reflecting the positive economic news.
Wall Street experienced a strong rebound on Thursday, driven by positive economic data that alleviated earlier recession concerns. Strong retail sales and a decrease in jobless claims fueled investor optimism, pushing major indices higher and prompting a shift in expectations for Federal Reserve actions.
Wall Street experienced a bullish surge on Tuesday after the release of lower-than-expected producer inflation data, fueling expectations for Federal Reserve interest rate cuts. The Producer Price Index (PPI) rose only 0.1% from the previous month, falling short of the anticipated 0.2% increase. Traders are now more confident in a larger 50-basis-point interest rate cut in September, with the S&P 500, Nasdaq, and Dow Jones all seeing significant gains.
Wall Street is expected to open higher on Tuesday, fueled by optimism over anticipated benign inflation data that could pave the way for a rate cut. The producer price inflation report, due out before the market opens, is projected to show further easing of price pressures at the wholesale level, potentially foreshadowing tame consumer price inflation data. However, Home Depot’s weak guidance is casting a shadow on the retail sector, which is about to enter a wave of earnings releases.
US stock markets rebounded on Tuesday, August 6, after three consecutive days of losses, attributed to bargain hunting and a surge in US bond yields. The Dow Jones, S&P 500, and Nasdaq all saw significant gains. Market movers included Kenvue, Uber, and Caterpillar, all reporting strong financial performances. The recovery came as Treasury bond yields rose, suggesting a more optimistic outlook on the economy.
This week brought a mix of emotions for India, with sporting triumphs at the Paris Olympics contrasted by devastating natural disasters and economic anxieties. While Lakshya Sen made history with his Olympic semi-final berth, landslides in Kerala claimed hundreds of lives and Wall Street’s woes cast a shadow on the Indian financial landscape.
Wall Street stocks soared on Wednesday as expectations for upcoming interest rate cuts gained momentum, fueled by Federal Reserve Chair Jerome Powell’s indication of potential rate cuts before inflation reaches the 2% target. Key indices hit fresh records, with the S&P 500 and Nasdaq marking their sixth and seventh consecutive record closes, respectively.
Wall Street experienced mixed results on Thursday, with the S&P 500 and Nasdaq falling while the Dow Jones climbed. Nvidia’s early gains faded as investors assessed economic data, including a cooling job market and declining homebuilding. Bond yields rose, indicating expectations for continued interest rate hikes.
