Several Wall Street experts are warning that despite moving higher in recent weeks, the stock market still has further to fall—with recent gains likely to be nothing more than a “bear market rally,” as investor concerns about Fed rate hikes and slowing economic growth continue to weigh on markets. Despite an earnings season marked by …
Continue reading “Warning Its A ‘Bear Market Rally’…. Stocks Could Hit New Lows”
Investing veteran Dennis Gartman says stocks are in a bear market in an “exuberant” event. The market recent strength comes as surprise to Gartman, as US Treasury yields remain inverted. Despite a stunning July jobs report, all data points to a recession, he added. Investing veteran Dennis Gartman says stocks are rallying in a bear …
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The S&P 500 index on Friday finished above a chart level that delivered a dose of encouragement to stock-market bulls arguing that the U.S. bear-market bottom is in, though technical analysts warned that it might not be a signal to go all in on equities. The S&P 500 SPX, +1.73% on Friday rose 1.7% to …
Continue reading “Stock market bulls are cheering the S&P 500’s close above 4,231”
The S&P 500 marked a much-watched milestone Friday: it retraced half the losses from its steep drop this year in a bullish signal of market recovery. With a 1.7% one-day gain, the index surpassed the 4,232 level and closed the week at 4,280, meaning it has recouped more than 50% of the losses it …
Continue reading “Out of the Woods? The S&P 500 Recovers 50% of Year’s Drawdown”
The German Economy Ministry revised down its economic outlook for the second part of 2022 on Friday, blaming the decline in gas deliveries from Russia that have boosted the ongoing energy crisis across the continent and brought “significantly poorer prospects.” The situation deteriorated further due to persisting supply constraints and the overall uncertainty prompted by …
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The United Kingdom gross domestic product (GDP) fell 0.1% in the second quarter of 2022, according to a first estimate released by the country’s Office for National Statistics (ONS) on Friday. The services sector contributed largely to the decline, with an output drop of 0.4%. On an annual basis, the UK GDP was up 2.9% …
The Producer Price Index (PPI) in the United States dropped by 0.5% in July on a seasonally adjusted monthly basis, the US Bureau of Labor Statistics said on Thursday. On an unadjusted basis, the index rose 9.8% for the 12 months ended in July. The overall monthly drop was mostly due to a 1.8% decrease …
President of the Federal Reserve Bank of San Francisco, Mary Daly, told the Financial Times in an interview, published on Thursday, that it is too early for the Fed to “declare victory” over curbing inflation. “There’s good news on the month-to-month data that consumers and business are getting some relief, but inflation remains far too …
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The annual inflation in the United States decreased to 8.5% in July, the Labor Statistics Bureau revealed in its report on Wednesday. Month on month, the Consumer Price Index (CPI) was unchanged compared to June. The gasoline and energy indexes fell 7.7% and 4.6% in July. Meanwhile, the food index kept rising, gaining 1.1% monthly, …
Continue reading “US inflation “DOWN” (HA HA HA HA) to 8.5% in July”
Traders, investors and economists are all counting on Wednesday’s consumer-price index report to show a decline in the annual headline U.S. inflation rate for July. But there’s another figure buried in the consumer-price index data that has the propensity to jolt markets. It’s called the core year-over-year CPI reading, a measure which strips out volatile …