Stock Market Recap - August 28- Sept. 1, 2023

 August 31, 2023

It is a quiet trading session in the stock market today, the US major indices moved meagerly the S&P 500 and Dow Industrials closed in a slight red, while the Technology sector streaked a 5th day green trading session.

• DIA -.46%  QQQ +.30%  SPY -.15%

Macro News:

• US weekly jobless claims reports at 228k vs: 32k expectations  US weekly jobless claims
• Consumer spending, Personal income data, & Core PCE US consumer spending rises

August 30, 2023

The US stock marked eked a small gain on the consecutive fourth trading session.

• DIA +.22%  QQQ +.56%   SPY +.41%

US Macro News:

• Private Payroll reported at 177K vs. 195k expectation   US ADP Non Farm Employment Change
  
• The US GDP  grothis revised lower  to 2.1%  US GDP for Q2 '23
  

Stock Market Recap - August 21- 25, 2023

August 23, 2024

It is a strong day for the US stock market today, the opening gap up held up through the trading session.

• DIA  +.54%   QQQ +1.58%  SPY +1.11%

The 20-year Treasury bonds rallied

Earnings Mover:

August 22, 2023

The early morning gap up or rally faded in the afternoon session and the major US indices closed in a negative session.

• DIA -.50%  QQQ -.14%  SPY -.27%

The US new homes sales surprise to the upside  New Homes Sales climbed to 4.4% highest since July 2022 

The 20yrs. Treasury bonds caught a breather today.

 Earnings Movers:

August 21,2023

The US stock market finally bounced following 3 weeks' decline. The DowJones remained weak down -.13%

• DIA -.13%  QQQ  +1.61%  SPY +.65%

The large pharma sector is noticeably emerging as a market leader or seeing some buying activity.

DE continues to slump following

Q2 '23 earnings result report.

PANW another market mover.

Stock Market Recap- August 14-18, 2023

 August 17, 2023

It is another down day for the US stock market and global markets.  The China macro concerns and the US macro slowdown for Q3 & Q4 for the rest of the year, the disappearance of American savings, and the resuming of US student loans ignited the sell-off in equities.

August 15, 2023

The US stock market slumped on China's macro slowdown, worsening sentiment as its largest Real estate developer defaulted on bonds and US macro concerns on October's potential government lockdown, and the impact of student loan repayment as it resumes in October.

• SPY -1.16%  DIA -1.02%  QQQ -1.06%

While the index and techs and broad sectors in the market are selling off.  These 2 large pharmaceuticals are finding some buyers.

Market Recap - August 7 - 11, 2023

August 9, 2023

It is another red performance in the US major index and equities, the sentiment in the last 7 trading sessions is biased to selling, and 6 out of 7 trading days have been on the sell side.

• SPY -.67%  DIA -.49%  QQQ -1.10%

Earnings mover:

August 8, 2023

The US stock market slid back to correction mode, and the Technology, EVs, and Industrials sectors are back to correction mode.

• SPY -.43%  DIA  -.45%  QQQ -.85%

Earnings mover:

 

August 7, 2023

The US stock market snapped from the 4-day losing streak. 

• DIA +1.13%   QQQ +.85%   SPY +.87%

It is worth noting that despite the equity pullback, the company that has reported strong Q2 '23 earning results continues to rally:

The stocks that have posted weak or disappointed Q2 '23 earnings result continues to slump

and has yet to find support

Market Recap- July 31 - August 4, 2023

 

August 4, 2023

Earnings Mover:

August 3, 2023

A day after the shock of the Fitch downgrade on US debt, the US equity took a paus from selling.

US Macro news: Weekly Jobless Claims

Earnings mover:

August 2, 2023

A FITCH downgrading US IDR to AA+ from AAA has surprised the US stock market's Fitch ratings.  The upset downgrades triggered a major sell-off in US stocks and bonds.

Earnings mover:

ELF IR

SEDG IR

GNRC IR