Monday’s session cements the worst stretch for stocks so far this year
The S&P 500 SPX finished lower on Monday, as neither strength in mega-cap technology stocks nor a pullback in Treasury yields managed to spare the large-cap index from a fifth straight daily loss, the longest losing streak for the index since December, according to Dow Jones Market Data.
This surpasses an 11-day streak that ended in June 2005 and a 10-day streak that ended in July 2020, Detrick’s data show. The S&P 500 was launched in 1957, but FactSet uses historical data to represent the index’s performance prior to its formal creation. Prior to markets opening on Monday, the streak had caught the attention of a handful of equity analysts, including a team at Bespoke Investment Group who noted that Mondays have been an indispensable driver of this year’s gains.
“The ‘Magnificent Seven’ have gotten all the credit for carrying the market this year, but ‘Magnificent Mondays’ have been just as important,” the team said.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Magnificent 7 Brace for a Make-or-Break Week as Earnings Take Center StageMarket Overview Analysis by Michael Kramer covering: Nasdaq 100, S&P 500, Microsoft Corporation, Alphabet Inc Class A. Read Michael Kramer's latest article on Investing.com
Lire la suite »
Stock Market Today: 10-Year Treasury Yield Hits 5%Several of the 'Magnificent Seven' tech giants will post earnings this week
Lire la suite »
Stock Market Today: 10-Year Treasury Yield Hits 5%This week will bring earnings from several of the 'Magnificent Seven' tech giants
Lire la suite »
How options traders are setting up for the major tech earnings this weekFour of the so-called 'Magnificent Seven' mega-cap companies will be reporting this week.
Lire la suite »
Europe’s ICE Ban Is Years Away, But The Pain Starts In 2024As a former European Automotive correspondent for Reuters, I’ve a spent a few years writing about the industry. I will penetrate the corporate hype and bluster and find out how these gigantic enterprises are really doing. I also love to drive their magnificent machines, and their more modest ones. I’ll be telling you if the technology works, too.
Lire la suite »