The stock market
, which had moved irregularly higher
over the first three trading days of this week
following a setback to start the often trying month of September, began the latest session sharply to the downside
. Ultimately, the blue chips would finish off by 130 points
, while the tech-heavy NASDAQ would conclude matters with a 140-point deficit. Looking to the day ahead, the market
is suggesting a somewhat higher start to the day's activity
, with nice strength indicated in the NASDAQ.
It was a tale of two halves on Wall Street
yesterday as investors sought to push the stock market higher for the third day in a row yesterday
, to mixed success
. Traders weighed
the latest Fed statement and the economic realities
behind its cautionary stance
, and stocks slipped following the release of the FOMC statement
. In the meantime, after last evening's flattish initial action in the futures, the market is signaling that we can expect a moderate retreat in stock prices
when trading resumes this morning.
Wall Street, which endured one of its worst weeks in months in the post-Labor-Day span, began the current five-day period on a strong up note on Monday and continued that comeback yesterday morning and into the early afternoon. Solid economic fundamentals and additional gains in the technology space combined to push the stock market nicely higher. In all, the Dow Jones Industrial Average quickly moved out to a gain just north of 235 points within the first few minutes of trading and retained much of that uptick throughout the first half of the session.
The stock market began the week on strong footing
, spurred by enthusiasm
surrounding acquisition news
over the weekend. Too, progress
on the coronavirus vaccine
boosted stocks. When all was said and done, the Dow
by 328 points
, while the S&P 500 rose 43 points
, and the NASDAQ gained 203 points
. Looking ahead, the futures
are pointing to a higher opening
As we approach the midpoint of September, it has been a month to forget so far for those long equities.
Coming off an August that saw the major equity average at or near all-time highs, some profit taking was expected as the market had come so far so fast since its 2020 nadir in March. The selling has been rather pronounced at times lately
, with the NASDAQ Composite falling into correction territory as investors took profits in the big technology names.
After the equity futures had moved modestly lower for most of the pre-market hours, equities started out to the upside yesterday morning,
on further strength in the tech stocks. That uptick followed a strong rebound on Wednesday, in which the Dow Jones Industrial Average, the S&P 500 Index, and the NASDAQ had all fashioned wire-to-wire wins after three straight days of losses.
The third time was apparently the charm. To wit, after the stock market fell for three days in succession, Wall Street reversed course yesterday, thanks to a strong comeback in tech stocks. A new day is upon us, and to get a glimpse of whether yesterday's comeback rally will extend itself, we look to the futures, which now are suggesting a modestly higher opening when trading resumes this morning.
returned from the long Labor Day weekend and did so in a selling mood.
On point, after the stock market had sold off on Thursday and Friday of last week, the leading averages went south again yesterday morning, and within minutes after the open, the Dow Jones Industrial Average and the NASDAQ were off by as much as 600 points and 400 points, respectively. The market then would stay notably lower
into the lunch hour.
come back from their Labor Day holiday
to a stock market that experienced a spike in volatility
at the end of last week after a summer of impressive gains
. There is some apprehension that more downside is ahead
in the near term. This morning, the futures market indicates another sharp decline
on the NASDAQ Composite
, suggesting a rocky opening
. Meanwhile, futures
on the Dow Jones Industrial Average
show a more moderate dip
Wall Street opened for trading yesterday morning on a generally lower note, with a sharp retreat in an overbought NASDAQ Composite leading the way lower. The Dow Jones Industrial Average opened slightly to the upside, meantime, as buying was continuing for a second straight day in some of the more depressed blue chip issues. This soft overall performance followed a bevy of early economic reports and preceded this morning's just-released issuances on employment and unemployment
. As has been the case recently, the Thursday releases seemed to have little effect on equity market activity.