While recent tumbles sting, I see this as a healthy market pullback, not a reversal. NVDA Earnings: While crucial, a single company's call rarely dictates long term trends. Look for broader economic indicators for clearer direction. Election Jitters: Yes, they exist, but historically, market dips in election years are shallow and followed by rebounds. Technicals: Key indices remain above long-term support levels, suggesting underlying strength persists.
Stocks stalled again today, but the big three indexes locked in their third-straight week of gains. The Dow Jones Industrial Average rose just 1.81 points, but gained 1.9% on the week. The Dow is up 7.8% over the past three weeks, its largest three-week gain since Nov. 11, 2022. The S&P 500 rose 0.1% on the day and 2.2% on the week. Its three-week gain of 9.6% is its best such stretch since June 5, 2020. The Nasdaq Composite rose 0.1% on the day and 2.4% on the week. It marked its best three-week percentage gain since April 24, 2020. A rally in oil futures sent the S&P 500's energy sector 2.1% higher, though oil prices have still fallen for four-straight weeks. The market's rally the past three weeks has followed retreating bond yields and a wave of economic data that traders hope