Online Stock Trading | Nasdaq leads stocks higher ending 3% higher for the week

Nasdaq leads stocks higher ending 3% higher for the week


Filed Under Market Commentary |

Options expiration on Friday inflated volume, with that said Nasdaq ended higher by .31%, S&P 500 ended up .27%, while the Dow chipped in .29%.  Traders were influenced by the tame inflation figures on Friday.  Consumer prices rose .2% higher in August , half the previous month.  Most market pundits are looking for the soft landing and have bought into the Federal Reserve’s monetary policy.  There is one thing most are overlooking, YoY CPI is at multi-year highs.  The possibility of another interest rate hike still exists and we must be aware the Fed may have to move. 
 
Natural Gas and Oil are hitting multi-month lows.  Oil in particular has had the rug pulled from underneath it.  A tame hurricane season has cooled fears of any Gulf of Mexico production shut down.  Consumers are also feeling relief from Unleaded Gas, from a personal standpoint in the past month 87 octane has dropped from 3.01 to 2.43.  For anyone this is significant.  I’d be watching for a boost in consumer confidence. 
 
There remains headwinds ahead.
 
Be vigilant and keep a tight cut loss strategy.
 
Mktspec

Last 5 posts in Market Commentary

Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.

Comments

Leave a Reply