The MarketReader Minute
Market Volatility Ahead of Powell's Testimony and Trump's Tariffs as UK Retail Sales Rise 2.5% Year-on-Year.
The MarketReader Minute
(VGT) has seen a price increase of 1.2% since Friday. Key contributors to this performance include NVIDIA Corp (NVDA), which rose significantly, contributing notably to the ETF's gains.
The MarketReader Minute
(IBB) declined over the past week, closing at $137.67. Comparatively, the SPDR S&P Biotech ETF (XBI) experienced a larger drop. Concerns regarding potential funding cuts from the National Institutes of Health (NIH) were also highlighted in these discussions.
The MarketReader Minute
(XLE) has seen a price increase of 0.9% since Friday. President Trump's announcement of a 25% tariff on steel and aluminum imports is expected to escalate trade tensions, potentially raising costs for energy companies. This comes amid rising input prices and broader economic uncertainties.
The MarketReader Minute
Trump's 25% tariffs on steel and aluminum spark trade tensions, while investors brace for key inflation data and Fed Chair Powell's testimony amid rising market volatility.
The MarketReader Minute
U.S. stock markets exhibited mixed results as caution prevailed ahead of the jobs report, contributing to the Consumer Discretionary Select Sector SPDR Fund (XLY) experiencing a decline.
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Recent speeches by Fed official Neel Kashkari have heightened the sensitivity of VGT to monetary policy discussions, reflecting the market's focus on the implications for the tech sector amidst ongoing volatility.
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The U.S. Nonfarm Payrolls report released today revealed an increase of 143,000 jobs in January, below expectations, while the unemployment rate decreased to 4%. (XLF) achieved an all-time high, distinguishing itself as the only sector ETF within the S&P 500 to do so.
The MarketReader Minute
U.S. Nonfarm Payrolls Expected to Add 170,000 Jobs Amid Steady Unemployment Rate; Canada Surprises with Strong Employment Growth as Global Markets React Cautiously.
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(XLY) experienced a daily return of approximately 0.4%, reflecting a slight increase in price. This follows a strong rebound in the U.S. stock market, driven by declining treasury yields and positive sentiment.
The MarketReader Minute
The U.S. stock market has demonstrated resilience, rebounding from early losses to close higher, aided by falling treasury yields. This comes despite some weakness in the technology sector following disappointing earnings from major firms like Alphabet and AMD.
The MarketReader Minute
Bank of England Cuts Interest Rate to 4.50% Amid Economic Concerns, While US Jobless Claims Rise Unexpectedly.
