market update

U.S. Stocks Slide and Treasury Yields Jump After Fed Sees More Rate Hikes

Jul 5, 2023

Barry Adams

Major averages remained under pressure after almost all policy members supported higher rates and more restrictive policy may be needed in bringing down inflation to the central bank's goal of 2%.

Major Averages Face Headwinds On Lingering Rate Path Worries

Jul 5, 2023

Barry Adams

Manor averages on Wall Street struggled after services growth decelerated in China, UK and the Euro Area. Tech stocks rested with a downward bias after six weeks of advance.

Major Averages Inch Higher On Wall Street, EV Makers Surge Ahead

Jul 3, 2023

Barry Adams

Stocks advanced on the start of the second half. Crude oil prices declined on demand worries. Electric vehicle makers were in focus after Tesla, Rivian and BYD reported production data.

Stable U.S. Market Averages After Stellar First Half

Jul 3, 2023

Barry Adams

Major averages were nearly unchanged on the first trading of the second half after indexes reported a surprise rally in the first half. Tesla jumped following record quarterly sales and deliveries.

Benign Inflation Measure Powered Another Day Of Market Rally

Jun 30, 2023

Barry Adams

Stocks advanced on the final day of the week after the preferred measure of inflation slowed in May. Tech-heavy Nasdaq Composite index is set to deliver its best performance in the first half in four decades.

Bullish Undertone Drives Market Averages Higher in U.S. and Europe

Jun 29, 2023

Barry Adams

The latest GDP revision added to a string of positive economic data this week after durable goods orders expanded and new homes sales advanced. Tech-heavy Nasdaq Composite index is set to report its best first half return since its inception in 1971.

Major Averages In Holding Pattern After Q1 GDP Revised Higher and Annual Bank Stress Test Results

Jun 29, 2023

Barry Adams

U.S. economic growth in the first quarter was sharply revised higher in the third estimate after consumer and public spending rose more than previously estimated. Stocks traded near the flatline and tech stocks and banks were in focus. Top 23 banks passed the annual stress test conducted by the Federal Reserve.

Market Rally Paused After Central Bankers Supported Additional Rate Hikes

Jun 28, 2023

Barry Adams

Central bankers in the U.S., UK and Europe said more rate hikes are needed to cool down inflation because tight labor market conditions are keeping core inflation elevated.

U.S. Stocks Traded Down, International Deficit Shrank, Powell Talks Tough On Inflation

Jun 28, 2023

Barry Adams

Stocks struggled following a broad market rally as the first-half comes to close. The Nasdaq Composite is set to close record high in the first-half in four decades. Fed Chairman Powell supported rate hikes at next meetings and cautioned about economic downturn.

Tech Stocks In Favor Again After Two Economic Reports Lift Sentiment

Jun 27, 2023

Barry Adams

Stocks powered ahead after durable goods orders and new home sales were ahead of expectations. Leading tech stocks charged the market advance and extended this year's gains as the first-half nears the end.

Stocks Turn Higher After New Home Sales and Durable Goods Orders Rise

Jun 27, 2023

Barry Adams

Stocks powered ahead and overcame rate hike worries after new home sales jumped at the fastest pace since February last year and durable goods orders advanced in May.

U.S. Market Averages Struggle, Home Builders Extend Yearly Gains, Global Indexes Slide

Jun 26, 2023

Barry Adams

Major averages lacked direction in the final week of the second quarter. Home builders extended this year's gains on the hopes of sustained demand for new homes amid stable mortgage rates.

U.S. and World Markets Remain Under Pressure After 2% Selloff Previous Week

Jun 26, 2023

Barry Adams

Stocks rested on the first day of a new week following 2% worldwide selloff in the previous week. Crude oil and natural gas prices remained volatile after Russia put down mutiny by a mercenary group.

German Business Confidence Weakened, Spain's Producer Prices Fall, Ruble Volatile

Jun 26, 2023

Barry Adams

European markets held up despite the Russian political turmoil over the weekend but natural gas prices shot up 10%. Spain's wholesale price index declined for the third month in a row and Germany's business confidence index dropped to a six-month low.

Global Markets Stall and Wall Street Rally Halts After Rate Hike Worries Resurface

Jun 23, 2023

Barry Adams

Major averages on Wall Street extended weekly losses on the ongoing worries that the Federal Reserve may keep higher rates longer and may be forced to dip into a recession to cool inflation.