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Stocks Fall Monday As Wall Street Takes a Breather After S&P 500′S Best Week Since June

Tiger Newspress2022-11-14

Stocks traded lower Monday after the S&P 500 posted its biggest weekly gain in almost five months on the back of easing inflation data.

The Dow Jones Industrial Average fell 50 points, or 0.2%. The S&P 500 declined 0.3%, and the Nasdaq Composite slid by 0.6%.

The S&P 500 rallied 5.9% last week for its best week since June. Investors cheered a lighter-than-expected inflation reading, betting that the Federal Reserve would soon slow its aggressive tightening campaign.

“A notable shift has occurred in the market, with investors increasingly risk-on across asset classes,” said Mark Hackett, Nationwide’s chief of investment research. “Technical indicators have improved dramatically, with investor sentiment, momentum, breadth, and risk factors all showing notable improvement.”

The tech-heavy Nasdaq Composite gained 8.1% last week for its best week since March, while the blue-chip Dow advanced 4.2%.

The Cboe Volatility Index, known as Wall Street’s fear gauge or the VIX, fell 1 point to 22.5, hitting the lowest level since August. The VIX, which tracks the 30-day implied volatility of the S&P 500, had traded above the 30 point threshold for most of October.

Still, the Federal Reserve has given little signal that it could deviate from its tightening path anytime soon. Fed Governor Christopher Waller said Sunday that, “We’re at a point we can start thinking maybe of going to a slower pace.” But, “we’re not softening. ... Quit paying attention to the pace and start paying attention to where the endpoint is going to be. Until we get inflation down, that endpoint is still a ways out there.”

Investors also digested news on the politics front over the weekend.Democrats will keep control of the Senatein the 2022 midterm elections, NBC News projected. The party will hold at least 50 seats after Sens. Mark Kelly of Arizona and Catherine Cortez Masto of Nevada held off challenges.

Meanwhile, the third-quarter earnings season is set to continue, with a heavy emphasis on retail. Big retailers Walmart, Home Depot, Target, Lowe’s, Macy’s and Kohl’s are all slated to post numbers this week.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment21

  • YWTan
    ·2022-11-15
    👍
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  • CArs
    ·2022-11-15
    Mkjkk
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  • JaniceZhu
    ·2022-11-15
    The S&P 500 rallied 5.9% last week for its best week since June. Investors cheered a lighter-than-expected inflation reading, betting that the Federal Reserve would soon slow its aggressive tightening campaign.
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    • Irene104
      Ok
      2022-11-15
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  • Shirley Soh
    ·2022-11-15
    Ok
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    • JaniceZhu
      [smile]
      2022-11-15
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  • Cvt
    ·2022-11-15
    Ok
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  • AngelaChan
    ·2022-11-15
    Interesting
    Reply
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    • mac0racle
      Wait
      2022-11-15
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    • wayjay1159
      [Like]
      2022-11-15
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    • Pluto891
      what next ?
      2022-11-15
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    View more 1 comments
  • Titis
    ·2022-11-15
    Ok
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  • Derrick_1234
    ·2022-11-15
    Noted
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  • PearlynCSY
    ·2022-11-15
    S&P 500, Nasdaq close lower to snap two-day rally, Dow sheds 200 points. Stocks fell to start the week as investors took a pause from last week’s big rally and digested a slew of corporate and economic news. The Dow Jones Industrial Average fell 0.6%, to 33,536.70. The S&P 500 was lower by 0.89% to 3,957.25, and the tech-heavy Nasdaq Composite dropped 1.12% to 11,196.22. Trading was choppy throughout the day, with the market struggling for direction throughout the session and then sliding into the close. “This week marks a bit of an information lull for markets as we’re past the brunt of third quarter earnings season, past the end-of-month/start-of-month economic data deluge, the busy holiday season is about to start, and we’re a mere seven weeks away from 2023,” said Goldman
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    • KW1
      great
      2022-11-15
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    • SilentWarrio
      Interesting and thank you
      2022-11-15
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    • alfo
      k
      2022-11-15
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  • busy bee
    ·2022-11-15
    Ok
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  • phantom74
    ·2022-11-15
    l I'll e
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  • YJ Lee
    ·2022-11-15
    Ok
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  • EAvenue
    ·2022-11-14
    Ok
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  • Swordmerlin
    ·2022-11-14
    Ok
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  • Bspn
    ·2022-11-14
    K
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  • bluefun
    ·2022-11-14
    Wow
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    • ececec
      [Like]
      2022-11-15
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  • JustLe
    ·2022-11-14
    Ok
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    • JustLe
      Ok
      2022-11-14
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  • JustLe
    ·2022-11-14
    Ok
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  • Edwht
    ·2022-11-14
    Hope for the better.
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    • tkj
      time to buy then wait for seesaw to go up again
      2022-11-14
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    • MeowTamara
      [shy]
      2022-11-14
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  • Slee49
    ·2022-11-14
    Ok
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