Blog
Market Overview
Stocks were all over the place on Monday, with tech shares having a rough time as everyone gears up for a big week, mostly focused on the Federal Reserve's first interest rate cut in four years. In general, the market is split, with some betting that the Fed might go for a bigger-th...
Market Overview
US stocks picked up steam on Friday afternoon, paving the way for some solid weekly gains. This came after Wall Street’s hopes for a big interest rate cut by the Federal Reserve jumped overnight, sending a wave of optimism through the market. Everyone’s betting on a major move from ...
Market Overview
US stocks surged on Thursday as investors took in the latest inflation and labor data, while also keeping an eye on the growing anticipation of a potential quarter-point interest rate cut next week. Everyone's trying to figure out how the numbers will impact the Fed’s next move. Thi...
Market Overview
U.S. stocks staged a head turning rally today as the markets reacted to the latest Consumer Price Index (CPI) report, which came in largely in line with expectations but slightly hotter on the month-over-month metric. This news removed a major catalyst from the week, leaving the mar...
Market Overview
U.S. stocks had a mixed close on Tuesday as investors braced for an upcoming consumer inflation report that could be key in shaping the size of the first U.S. interest rate cut in years. After a rebound on Monday, where the S&P 500 tried to recover from its worst week since early 20...
Market Overview
U.S. stocks bounced back on Monday after the S&P 500 had its worst week since early 2023, with inflation once again in the spotlight as investors considered factors that might impact upcoming interest rate cuts. SPY opened up over $4 after falling overnight to major support at $538....
Market Overview
U.S. stocks ended deep in the red on Friday, wrapping up a wild trading week, dropping 4% this week as investors processed a key jobs report that hinted at the likely size of this month’s expected interest rate cut. SPY opened up $0.33 and rallied to the high of the day at $551.60, ...
Today SPY opened down slightly at major support and rallied in the morning session to $553.80 where it once again couldn’t attract buyers to continue higher. By the 10:30 am ET hour, price started to collapse and SPY fell virtually straight down to the lows of the day at $547.10. At noon, buyers fin...
SPY gapped down over $1.85 today, retesting the lows from Tuesday. The market tread water until the JOLTS Job Openings report was released at 10 am ET. The report came in weaker than forecast and SPY initially sold off on the news, then rallied reaching the high of the day of $554.43 where it found ...
SPY gapped down over $3 today after reaching a high in the premarket of $564.22, just shy of the all-time high of $565.16. But the real party started once ISM Manufacturing PMI was released at 10 am ET. While the topline number was slightly below forecast, the drop in new orders, down 2.8 reached th...
SPY gapped up over $2 again and once again in the morning session, worked its way toward the all-time high without getting above $562.25. SPY then sold off to $557.14 where it reversed, and after chopping around for two hours, SPY made a late afternoon push to close near the highs of the day at $563...
SPY opened up over $2 after moving lower overnight, finding support at $553.50 and reversing to open higher on the day. The market continued to rally as GDP came in better than forecast and Unemployment Claims were slightly below forecast. All good news for the economy so SPY once again attempted to...
