StreetAccount U.S. Evening Market Recap is FactSet's daily podcast aiming to capture the most material market moving news. With a target time of ~5 minutes, this is an ideal listen for those looking to stay connected to the most important themes driving the U.S. economy & corporations.
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US equities declined this week, with the S&P 500, Nasdaq, and Russell 2000 ending three straight weeks of gains. Major US equity indexes were modestly lower on the week, pressured by elevated long-end yields, higher oil, and some sporadic weakness in crowded AI and momentum trades. The Fed and macro calendar was relatively quiet this week
US equities were lower in Thursday afternoon trading, on track for modest weekly declines. A lot of the day's focus was on long-end rates giving back much of Wednesday's declines that followed the Treasury's unexpected buyback boost. Analysts have voiced some skepticism about the Treasury's ability to offset ongoing structural pressures.
US equities were higher in Wednesday trading. The Treasury rally big focus of the day with significant bull steepening move following Treasury announcement on ramp in size of buyback operations for longer-term paper. Healthcare was the big sector leader of the day with pharma/biotech in focus.
US equities finished lower in Tuesday trading, ending near worst levels. Semi/memory weakness was the big drag on indices today. July housing starts came in at a 1239K SAAR, below the 1350K consensus and June's downwardly revised 1415K (was 1427K).
US equities finished down in Monday trading, ending near session lows. Higher yields and oil were no help for stocks in fairly quiet Monday trading. In macro news, August’s Empire Manufacturing Index beat, tied for the highest print since December 2021
US equities were mostly higher this week though upside was limited. The S&P 500 and Russell 2000 were both up for a third-straight week, setting fresh record closes this week. The momentum trade was a standout this week, notably for memory and select AI infrastructure names, while semis were also broadly higher. Laggards included off-priced retail, department stores, athletic apparel,…
US equities were mostly higher in Thursday afternoon trading. Some of the modest upside was tabbed to the rate rally that followed the cooler July core PPI print. However, the market is pricing ~34% chance of a September rate hike, little changed from Wednesday.
US equities were mostly higher in Wednesday trading, though ended a bit off best levels. Upside tabbed to a couple factors, including in line July CPI that helped keep yields down for the day
US equities were mostly lower in Tuesday trading. It was another very quiet session without much of a narrative. This is likely a function of the waiting game for CPI/PPI over next couple of days, given heightened attention/uncertainty surrounding the Fed.
US equities were lower in Monday trading, though the downside was fairly limited. It was a very quiet Monday session with few updates around the biggest market narratives. Nothing on the US economic calendar today in macro news.
Major US indices were higher this week, with the S&P and Nasdaq both seeing their strongest weeks since April and the S&P ending at a fresh all-time high. Momentum outperformed again, though semis and memory were up and down through the week. It was a noisy geopolitical week, with the market looking for progress on reopening the Strait of Hormuz.
US equities were lower in Tuesday trading, though the downside was limited and indices remain on pace for solid weekly gains. Q2 results still very strong overall, though there is some scrutiny surrounding semi and software results. Geopolitics has been a lingering issue, with oil notably higher today amid reports Iran-Oman deal reopening Strait of Hormuz could bar US and Israeli vessels
US equities were mixed in Wednesday trading. It was another heavy earnings day with more than 75% of S&P 500 having now reported. There were mixed takeaways with AI capex scrutiny, elevated expectations, AI adoption/usage/initiatives and resilient travel demand some of the big themes.
