I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

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Saturday, 13 August 2022

Dow closes up 400 points, S&P 500 rises for fourth straight week as investors warm to cooler inflation

CW8888: With 2022 H1 earning reporting season completed; and DBS and SCI XD on Monday. Let see how STI reacts to DOW rally on Monday!

Stocks rose sharply on Friday, clinching the fourth straight positive week for the S&P 500 as investors celebrated signs that inflation may be peaking.

The Dow Jones Industrial Average added 424.38 points, or 1.27%, to close at 33,761.05. The S&P 500 gained 1.73% to finish at 4,280.15, and the Nasdaq Composite surged 2.09% to 13,047.19.

The S&P 500 rose 3.26% on the week, notching its longest weekly winning streak since November 2021. The Dow was up 2.92% for the week, while the Nasdaq Composite moved higher by 3.08%. For the Nasdaq, it was also the fourth positive week in a row.

The averages have been boosted by positive news on the inflation front. The consumer price index was flat from June to July, thanks in large part to falling gas prices, which lowered headline inflation. The producer price index showed a surprise decline. On Friday, import prices also fell more than expected.

This week’s moves have extended a market rally off its mid-June lows. The S&P 500 has gained 16.7% since the lows, and has cut its losses from the peak in half. The Dow had gained nearly 13% and the Nasdaq Composite has rebounded 22.6%.

The positive news has bolstered investor confidence, leading some to believe that the recent gains are more than a typical bear market rally.

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