Equities: US equities were mixed on Friday. The S&P 500 and the Dow Jones Industrial Average continued to make record highs, up 0.1% and 0.9% respectively as rotation towards value stocks resumed. On the other hand, Tech and growth stocks came under pressure as yields jumped above 1.64%, Nasdaq Composite fell 0.6%. According to both...
Category: Markets Daily
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Markets Wrap: Stocks Jump to Record High, Tech and Consumer Discretionary Outperform
Equities: The S&P 500 and the Dow Jones Industrial Average both closed at a record high on Thursday as investors eyeing the injection of the $1.9 trillion stimulus package. The strong Tech rally saw the Nasdaq Composite jumped 2.52%. The Dow Jones Industrial Average (US30) climbed 0.58% and the S&P (US500) rose 1.04%. According to the...
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Markets Wrap: Weaker than Expected CPI Data Sends Value Stocks Higher
Equities: The core US CPI was up 0.1% in February, which fall short of the consensus of 0.2%. The US equities advance upon the continuation in the rotation into value and cyclical stocks while Tech shares lagged, which is a typical reflation trade (link to reflation trade article). The Dow Jones Industrial Average (US30) climbed 1.46% to...
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Markets Daily: Equities in Asian Set to Open Higher upon Massive US Stimulus
Equities: The $1.9 trillion Covid-19 relief bill is ready to be approved by the U.S House after passing the US Senate on Saturday. Futures in Australia, Hong Kong, and Japan all pointing higher. US equities finished higher on Friday supported by stronger employment data. The Nasdaq Composite rose 1.55%. The S&P 500 rose 1.95%, and the...
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Nasdaq Slumps as Interest Shifts from Growth to Value
Equities: The US equities were mixed on Monday. Tech stocks were sold off heavily upon rising treasury yields with Nasdaq Composite and S&P 500 down 2.41% and 0.54% respectively. On the other hand, the Dow Jones Industrial Average climbed 0.97%, with cyclical and value stocks poised to benefit from the economic recovery fuelled by the...
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Equities in Asian Set to Open Higher upon Massive US Stimulus
Equities: The $1.9 trillion Covid-19 relief bill is ready to be approved by the U.S House after passing the US Senate on Saturday. Futures in Australia, Hong Kong and Japan all pointing higher. US equities finished higher on Friday supported by stronger employment data. The Nasdaq Composite rose 1.55%. The S&P 500 rose 1.95%, and...
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Markets Daily: US Treasury Yields Top 1.55%, Sending Equities Lower
Equities: The dovish tone made by the Fed Chairman Jerome Powell concerned the market with potential higher inflation expectations. As a consequence, the Nasdaq Composite fell 2.11% on Thursday. The S&P 500 (US500) fell 1.34% erasing its early gains in 2021, and the Dow Jones Industrial Average(US30) followed, down 1.11%. The Asian markets open on...
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Markets Daily: Higher US Treasury Yields send Equities Lower
Equities: The Nasdaq Composite fell 2.7% on Wednesday to a two-month low as US treasury yields jump on Wednesday. The S&P 500 (US500) fell 1.31%, whereas the Dow Jones Industrial Average (US30) had limited losses of 0.39%. The Asian markets are set to open lower with futures in Australia (AUS200), Hong Kong (HK50), and Japan...
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Monday Rally unable to sustain as Tech weighted down on Tuesday
Equities: The Nasdaq Composite led the losses on Tuesday, down 1.69%, the S&P 500 (US500) fell 0.81% and Dow Jones Industrial Average (US30) fell 0.46%, erased most of the Monday gains. The ASX 200 (AUS200) kicked off in the green on Wednesday open, up 0.4%, setting a positive tone for the Asian openings. According to Morgan...