MeritKapital News

US stocks recorded their worst session since June 2020 on Tuesday following a CPI overshoot; headline inflation for August was up 0.1% against an expected 0.1% decline while the core component shot up 0.6% against an expected 0.3%. The NASDAQ led losses, down 5.16%, while the S&P and the DOW were 4.32% and 3.94% lower…

U.S. stocks finished higher on Monday for the fourth straight session ahead of August CPI report due today to show signs of easing price gains. Also, investors appear comfortable with the prospect of a possible 75 basis point interest rate hike by the Fed Reserve at the conclusion of its meeting on September 21. Subsequently,…

U.S. stocks finished higher on Friday with all three major benchmarks scoring higher. Subsequently, Dow Jones increased 1.2% to finish at 32,151.71, S&P 500 increased 1.5% to finish at 4,067.36 while Nasdaq 100 increased 2.1% to finish at 12,112.31. The 10-year yield Treasury increased 0.131% to 3.321%. Gold spot price increased to $1,718.10 per ounce…

U.S. stocks finished higher on Thursday with first back-to-bank gains in two weeks as investors assessed the Fed Reserve Chair Jerome Powell’s comment that the central bank is determined to bring inflation down during a discussion hosted by the Cato Institute. Meanwhile, the ECB hiked interest rates by 75 basis points, and signaled that more…

U.S. stocks finished higher on Wednesday, as investors assessed remarks by Fed Reserve Vice Chair Lael Brainard, while digesting the central bank’s latest compilation of economic anecdotes. Brainard said on Wednesday that the Fed will need to raise the policy rate further and keep rates at high levels for some time to “provide confidence that…

U.S. stocks finished lower on Tuesday after a volatile session saw all three major benchmarks loosing. Lingering concerns about the economic fallout from the European energy crisis were again in focus on Tuesday, as was the Fed Reserve’s determination to battle inflation by aggressively hiking interest rates. Meanwhile, rising Treasury yields and a stronger dollar…

U.S. stocks futures rose modestly on Monday as the nation commemorate Labor Day, so the U.S. stock market was closed. Subsequently, Dow Jones futures increased 0.4%, S&P 500 futures increased 0.3% whiles Nasdaq 100 futures increased to 0.3%. The 10-year yield Treasury rose 3 basis point to 3.22%. Gold spot price is at $1,715.10 while…

U.S. stocks declined on Friday after August jobs data released did little to alter the view that the Fed Reserve would press ahead with a large interest rate hike in late September. August employment data showed the U.S. economy added 315,000 new jobs last month which brings U.S. unemployment rate to 3.7%, missing the 3.5%…

U.S. stocks ended mixed on Thursday as it recovered from previous four-day slump. Bond yields rose while another pandemic lockdown in the southwestern Chinese metropolis of Chengdu added to concerns about economic growth as we await employment data later today. Subsequently, Dow Jones increased 0.5% to finish at 31,656.42, S&P 500 increased 0.3% to finish…

U.S. stocks extended a losing streak to four sessions on Wednesday as all the three major benchmarks recorded around 4% of losses for the month of August. Ahead of the opening bell, ADP estimated that U.S. private-sector employment rose 132,000 in August, while annual pay rose 7.6%. Subsequently, Dow Jones declined 0.9% to finish at…