Equities Shrug Off Bad News as Rally Approaches 10% from October Low
The equity rally continued this week despite bearish headlines. Large cap technology names were very weak and yet the S&P 500 was up 3.7%.
Equities Stage Huge Reversal Off the Lows, But Will it Hold?
Volatility remains elevated as equity indices posted three consecutive 2% change days. The action started last week with a hotter than expected Consumer Price Index (CPI) report that led the S&P 500 to drop more than 2% to start trading on Thursday.
Tidings of Continued Inflation
All eyes this week were focused on inflation, which appears to remain sticky. The U.S. Bureau of Labor Statistics (BLS) reported two key measures of inflation beginning with the Producer Price Index (PPI) for finished goods.
Equities Surge Amid Two-Day Buying Frenzy
Equities traded lower to end last week but staged a rare 5.7% surge over two days. The spark was ignited by extremely oversold conditions and the Reserve Bank of Australia increasing rates by only 25 basis points.