Sign In  |  Register  |  About Santa Clara  |  Contact Us

Santa Clara, CA
September 01, 2020 1:39pm
7-Day Forecast | Traffic
  • Search Hotels in Santa Clara

  • ROOMS:

After the S&P 500’s Greatest Day Since 2020 on Friday, Stocks Rose Again on Monday.

Fears that the Federal Reserve might increase interest rates too soon have diminished.

Recently, investors have been more pessimistic about interest rate rises by the Federal Reserve to combat inflation, which has resulted in a decline in the S&P 500 this year.

When Federal Reserve Chairman Jerome Powell admitted the prospect of a harsh landing, the market viewed this as an indication to limit the likelihood of rapid rate rises. Moderating economic indicators also helped to boost this share rise.

US bond markets “continue to price in that the end of Fed rate rises is nearer than previously thought,” an analyst at broker Oanda said. “The economy is expected to decelerate considerably by H2 2022, which is when the Fed is expected to stop raising interest rates.”

Economic data and meetings are scheduled for the next week, including one between Powell and the chiefs of the European Union and United Kingdom central banks on Wednesday. Due to PCE being the primary inflation indicator of the Federal Reserve, Thursday’s personal consumption expenditures index will also be highly scrutinized.

Deutsche Bank strategist Jim Reid stated, “Without a major event this week there are enough things to keep us entertained in what are exceedingly unpredictable times.”

Even yet, investors may want to keep an eye out for signals that things aren’t quite as awful as they first seem. According to a translation from China Global Television Network, Governor of the People’s Bank of China Yi Gang was cited as stating that the central bank would assist China’s economy recover from the Covid-19 lockdowns. Both Beijing and Shanghai said on Saturday that they will reopen schools, according to Reuters.

The stock market seems to have ignored Russia’s default on foreign debt, which was triggered by an inability to transfer payments rather than a shortage of funds.

To Tom Essaye of the Sevens Report: “Geopolitically Russia defaulted on a loan payment, but this was well predicted thus it doesn’t affect markets.

When the market is motivated to rise, it will rise.

Some of the best-performing equities in the market on Monday are as follows:

According to Bloomberg, Goldman Sachs has downgraded Coinbase to Sell from Neutral, and the cryptocurrency exchange’s stock has fallen 5% in premarket trade.

In the wake of Needham’s downgrade to Hold from Buy, shares of Etsy ETSY +6.21 percent (ETSY) have dropped by 2.4%.

In the wake of B. Riley’s downgrade to Neutral from Buy, Bed Bath and Beyond (BBBY) fell 0.3 percent.

In the ongoing bidding war between Frontier Group Holdings (ULCC) and JetBlue Airways (JBLU), shares of Spirit Airlines (SAVE) are down 5.2%. (JBLU). The share price of Frontier has dropped by 1.8%, while the share price of JetBlue has increased by 0.9%.

World Wide Web Acquisition Shares of SPAC DWAC, which is purchasing Trump’s Truth Social, fell 0.47 percent after it was revealed that a grand jury had subpoenaed it.

After announcing the sale of its team sales division, Foot Locker (FL) saw its stock jump 1.5%.

Despite Mizuho cutting its price objective for Tesla (TSLA) from $1,300 to $1,150, the stock has risen 1.8 percent.

One of Tencent’s most significant shareholders, Prosus (PRX.Netherlands), said that it will sell shares to raise money for a share buyback program; Prosus has a 29 percent stake in Tencent. While Naspers, Prosus’ parent firm in South Africa, rose 22% in Johannesburg, the Dutch stock market surged 16%.

The post After the S&P 500’s Greatest Day Since 2020 on Friday, Stocks Rose Again on Monday. appeared first on Best Stocks.

Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Copyright © 2010-2020 & California Media Partners, LLC. All rights reserved.