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.

STI - Steady Tolerable Index

 

Is STI going below 3,000 soon? Lousy stock market!!!

Still Waiting For The Next STI Market Crash Since 2009!!!

STI didn't really crash in 2020!

So will STI crash in 2021?

Who are those worry about the next Market Crash?

Are you one of them?

Have you plan what to do over the next few months?

Stock futures fall with market set to continue technology-led sell-off

 The tech-heavy Nasdaq Composite underperformed once again on Tuesday — falling more than 4% — after suffering its worst week since March. The Nasdaq has lost more than 10% in the past three sessions, officially entering correction territory. The index is still more than 63% from its 52-week low in March. 

In addition to the high flying FAANG names and stay-at-home stocks, chip stocks were among the biggest losers as tensions between U.S. and China continued to escalate. Meanwhile, a 21% drop in Tesla — its largest single-day stock drop — dragged down the Nasdaq. Tesla was excluded from joining the S&P 500 on Friday. 

The Dow Jones Industrial Average cratered more than 600 points, weighed on by a near-6% drop in Boeing. The S&P dipped 2.7%, for its third straight negative day for the first time since June 11. 

CW8888: Lack of Tech stocks in STI also follows Uncle DOW to panic selling meh?