US Stock Indexes Dip as Dow And S&P 500 Sets Record
Following the S&P 500 rally in the previous week, the company hovered in record territory and by Sunday evening there was a dip in the futures of the US Stock index. The futures connected to Dow saw a decline of about 141 points; this also affected the S&P 500 and the Nasdaq 100, as their respective futures were being traded on the negative.
The trades taken on Sunday evening were made after a high trading week, followed by the precise attention to the data index of the economy and the profits of the corporate earnings. In the previous week, the Dow closed off trade at about 35,515.38. On the other hand, the S&P 500 ended trade at 4,468.00 which was the best-closed trade the firm has seen in a while.
Stock This Week
This week, while the Dow closed off with profits of about 0.8%, the S&P 500 closed with a gain of 0.7% following the trading volumes carried out this summer. However, this trading week was not so good for Nasdaq as they saw a bit of decline in their futures trading down 0.1%. On the standard Treasury Note, the last gain recorded was about 1.283%.
Profits on bonds also saw a decline as a result of increased prices. There has been diverse data coming in last week taken in by investors and traders. One of these indexes which were quite memorable was the inflation data which was released on Wednesday giving a lesser than expected data. According to the report, consumer prices without energy and food had an increase which was a bit lower than predicted.
Updates on Economic Data
In other news, on Thursday, the weekly jobless claims were about 375,000 according to the labour department records. This coincides with the predicted calculations and the downward movement has been on for 3 consecutive weeks. The consumer sentiment report recorded by the University of Michigan was recorded to be just 70.2 and this as measured has been the lowest the index has fallen since 2011.
More data are still expected like the retail sales record which is planned to be released this Tuesday. Other reports like the report on the Fed’s meeting, housing statistics are also anticipated to influence the US stocks. In the last quarter of the year, 87% of the S&P 500 companies announced favorable EPS surprises. If this remains the report for the rest of the year, it would be a new record for S&P 500 as the highest percentage of S&P 500 companies reporting EPS surprises since 2008.
