Stock Market Weekly update -Aug 9
We got a huge rally last week with all the Indexes hitting all time highs , except for the Nasdaq! The Small-caps took out 5 weeks of downside action in one week. Most of the gains happened on Monday & Tuesday, after ‘good news’ on the Iran war. However great earnings continue to flow in as well. Semiconductors rallied too, but still have to overcome weeks of downside action. Gold also had a huge rally. The market rallied on Friday despite disappointing jobs numbers (negative 23,000 vs +80,000 expected!), while May and June numbers were also revised down, and Labor Force Participation dropped! After earnings, PLTR, SPCX, SHOP, ABNB , popped while WDC , DDOG, APP, TTD , CVS, PZZA dropped! The week ahead includes more earnings reports, along with the CPI & PPI . S&P 500 rises to record close Friday and posts strongest week since April U.S. economy unexpectedly lost 23,000 jobs in July The S&P500 finally broke out from the 9 week sidew...