Researches By 3snl
Major stock-market indexes moved slightly lower last week with investors attempting to divine the market direction amongst mixed economic/earnings reports and Fed rate-hike concerns. Monday’s much better-thanexpected Empire State Manufacturing Index release was countered by Thursday’s unexpectedly sharply weaker Philadelphia Fed Manufacturing Index which in turn was countered by Friday’s S&P Global US Composite PMI release showing much stronger-than-expected manufacturing and services activity throughout the U.S. Initial jobless claims came in higher than expected, adding to concerns of a slowing economy. Earnings reports added to market uncertainty with mixed bank and retailer results. Fed rate-hike concerns and expectations, muddled by the week’s seemingly conflicting data points, added to market uncertainty. For the week, the S&P 500 Index decreased 0.1% to 4,133.52, the Nasdaq Composite Index dropped 0.4% to 12,072.46, the Dow Jones Industrial Average fell 0.2% to 33,809.33, the 10-year U.S. Treasury rate increased 6bps to 3.57% and the U.S. dollar (as measured by the ICE U.S. Dollar index – DXY) strengthened 0.2%.
Topic: Telecoms , Financials , Basic Materials , Energy , Industrials , Technology
Publication Type: Market Commentaries
The Long and Short of it, week ending 21 April 2023
25 April, 2023 | GraniteShares
Major stock-market indexes moved slightly lower last week with investors attempting to divine the market direction amongst mixed economic/earnings reports and Fed rate-hike concerns. Monday’s much better-thanexpected Empire State Manufacturing Index release was countered by Thursday’s unexpectedly sharply weaker Philadelphia Fed Manufacturing Index which in turn was countered by Friday’s S&P Global US Composite PMI release showing much stronger-than-expected manufacturing and services activity throughout the U.S. Initial jobless claims came in higher than expected, adding to concerns of a slowing economy. Earnings reports added to market uncertainty with mixed bank and retailer results. Fed rate-hike concerns and expectations, muddled by the week’s seemingly conflicting data points, added to market uncertainty. For the week, the S&P 500 Index decreased 0.1% to 4,133.52, the Nasdaq Composite Index dropped 0.4% to 12,072.46, the Dow Jones Industrial Average fell 0.2% to 33,809.33, the 10-year U.S. Treasury rate increased 6bps to 3.57% and the U.S. dollar (as measured by the ICE U.S. Dollar index – DXY) strengthened 0.2%.
