The streak is over. The S&P 500 fell 1.1% on Tuesday, closing at 7,719 — its biggest one-day decline since the June correction and its first decisive break below 7,800 in six weeks. Volume jumped 25% above average, giving the drop real sponsorship. For the first time since August, the dip-buyers didn’t show up in […]
The S&P 500 spent Monday holding its breath. The index closed at 7,805 — down a token 2 points from Friday, and 39 points below Tuesday’s all-time high of 7,844. Three sessions of near-perfect stillness, right as third-quarter earnings season opens with the big banks reporting Tuesday and Wednesday. The market is waiting for corporate […]
7,844. The S&P 500 printed that number on Tuesday — its highest level in history — before settling the week near 7,807. Six months after the June correction low of 7,238, the index has gained 8%, made fresh records in August, September and now October, and done it all against a macro backdrop that most […]
The most remarkable market statistic of September so far isn’t in the FX market — it’s in the equity market’s refusal to care about it. While the yen careened through its second 600-pip shock of the quarter and the dollar ripped to new highs, the S&P 500 has spent the week calmly consolidating near 7,650 […]
7,816. The S&P 500 touched that level on Wednesday — its first foray above 7,800 — before settling near 7,780. The rally that began at the June correction low of 7,238 has now delivered 8% in eleven weeks, and the character of the advance keeps improving. Breadth is the headline Unlike the narrow megacap-led rallies […]