The second half
of October on Wall Street began with a moderate decline in average stock
prices, but the S&P 500 broad market index was kept within the same range
mostly above the 4,270-4,300 support area. Inflation worries were noticeable
ahead of a fresh U.S. consumer price index (CPI) which will be released today,
although it has already become clear that the Federal Reserve (Fed) has a
tendency to focus more attention on job targets and has a more "wait and
see" kind of approach when it comes to growing inflation.
In the middle
of the business week, the markets have still failed to form any stable trend.
Judging the overall situation on a conventional base of weighted average
instruments, such as the S&P 500 or the Euro Stoxx 50 indices, the several
hours of steady rebound when the market community was trying to buy fresh dips,
which were formed yesterday, were followed by a new day of sales again, and
Just a day ago,
all trading sessions on stocks were marked by another wave of total sell-off on
Wall Street covering almost the entire spectrum of the market segments. It is
worth mentioning that the "big five" of the U.S. financial
institutions and energy companies came out better than others, with the Bank of
America and JP Morgan Chase even managing to refresh their all-time record
prices before they also very limitedly joined the overall correction. At the
same time, Morgan Stanley, Goldman Sachs and Citigroup lost 2.91%, 2.58% and
After the storm
signal for global stocks in course of the 20th of September’s
"black Monday", when the total downside correction for the Wall
Street's broad market S&P 500 index reached 5.35% at a local bottom point,
compared to the absolute peaks of all time two weeks earlier, the markets on
both sides of the Atlantic are behaving in a much more balanced manner.
A few hours
before the end of an important meeting of the Federal Reserve (Fed), where the
continue to behave with agitation in the course of the current week, as most
investors are still hesitantly awaiting the meeting of the Federal Reserve
(Fed) next Wednesday, which may become a kind of risky turning point for the
prevailing sentiment. The threat of money stimulus tapering, which may be
announced as starting as early as October or in December, is expected to be
pretty limited so that it may not change
the disposition dramatically.
The stocks at
Wall Street finished their seventh straight months in moderate or solid gains. On
the first day of September one can already state that August was marked by
another record victory for both S&P 500 broad market index which is well
above the 4,500 landmark and Nasdaq 100 index, mainly of companies in the tech
sector, which is now consolidating higher than another round figure of 15,000
points. Apart from a very small and rather symbolic decline of average market's
quotes in January, shortly after the new year's start, the overall U.S.
markets continue to slowly and steadily climb higher , with the Euro Stoxx 50
major indicator adding just about 0.8% since the beginning of the week until
noon on Wednesday. However, its increase is almost 2.5% if compared with the
last local price bottom of August 19.
speaking, most of the EU stocks could perform even better if it were not for
the German market which clearly underperformed today after today's
contradictory release of the national business climate gauge regularly measured
by the well-known Ifo Institute on a monthly basis.
are mostly steady on Wednesday, anticipating the U.S. Federal Reserve minutes,
which probably would not contain any defining signs for policy changes but may cause
some usual after-volatility, a week of corporate reports from major retailers
have already made some preliminary discrepancy into the overall sentiment.
Depot, which is Atlanta-based and the largest home improvement and furniture
shopping network in the United States, is still very successful amidst the
pandemic crisis time. However, its shares initially dropped more than 4.
Zealand Dollar, or just the Kiwi, according to the traders' slang term, could
become the second of the major currencies to strengthen on a systematic basis
after the Loonie, which is the Canadian Dollar. The last one has been embarking
on a healthy path since the third week of April when the central bank of the
country changed the size of the quantitative easing (QE) monetary program from
$4 billion to $3 billion loonies per week, thus partly compressing the growth
pace of the excessive money supply.
corporate earnings updates from the market's world-known issuers, followed by
CEOs conference calls - as it usually happens - wore ruts in the fundamental
background road of the week. None of them tried to eclipse the overall sunny
sentiment with even one cloud.
pioneer mass manufacturer of electric vehicles, broke its own delivery record
by building and shipping more than 200,000 vehicles during the second quarter.
That was as much as 151% growth over last year. The company also added nearly
1,000 supercharging stations to its network.