Market Overview


US stocks advanced on Monday as investors brave enough to buy the dip continued their hunt for bargains. The S&P 500 climbed 1.4% settling at 2656. The Dow Jones industrial average advanced 1.7% to 24601.27. The Nasdaq composite index rose 1.6% to 6981.96. The dollar weakened, the sentiment persisting today: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, fell 0.3% to 90.426. Index futures indicate lower openings today.

US stocks rebounded on Friday in volatile session recording the worst weekly decline in two years however. S&P 500 recovered 1.5% to 2619.55 led by technology shares, up 2.5%. Dow Jones industrial average rose 1.4% to 24190.90, returning back into positive territory. Both the US broad market index and Dow industrial fell 5.2% for the week. The Nasdaq composite added 1.4% to 6874.47. The dollar resumed strengthening: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.2% to 90.426. Index futures point to higher openings today.

US financial markets retreat continued on Thursday as markets adjust to expectations of tighter monetary policy. Dow Jones industrial average dropped 4.2% to 23860.46. The S&P 500 lost 3.8% to 2798.03 led by financial and technology shares. Both S&P 500 and DJI entered correction territory. The Nasdaq composite fell 3.9% to 7296.05. The dollar weakening resumed: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, inched 0.01% lower to 90.274. Index futures point to higher openings today.

US financial markets ended lower on Wednesday as bond yields rose after news top senators agreed on a budget deal that would increase budget deficit. The dollar rebound accelerated: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.8% to 90.356. The S&P 500 fell 0.5% to 2681.66 led by energy and technology shares. The Dow Jones industrial lost 0.08% to 24893.35. Nasdaq composite index slid 0.9% to 7051.98. Index futures point to mixed openings today.

US financial markets rebounded on Tuesday in a volatile session as buyers emerged after panic sell-off Monday. The S&P 500 recovered 1.7% to 2695.14 following 4.1% drop Monday. Dow Jones industrial average gained 2.3% to 24912.77, paring 4.6% loss the previous day. The Nasdaq composite index climbed 2.1% to 7115.88. The dollar added to previous day strength: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, inched up 0.03% to 89.65. The recovery brought both S&P 500 and DJI back into positive territory for the year.

US stock indices slumped but dollar rallied on Friday as bigger than expected increase in January nonfarm payrolls stoked concerns Federal Reserve may fasten the pace of rate hikes. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.6% to 89.155 Friday. S&P 500 fell 2.2% to 2762.13 led by 4.5% loss in energy shares. The US broad market index fell 3.9% for the week. Dow Jones industrial average sank 2.5% to 25520. The Nasdaq composite fell 2% to 7240.95. Futures on indices indicate lower opening today.

Corporate earnings reports were neutral, but investors again raised the forecast for the S&P 500 net profit. It will not be easy to justify such optimism.

Investors reacted to the positive economic statistics and corporate reports

Dow Jones showed the highest 2-day decline since September 2016 before the next Fed meeting, which will take place today.

The main reason for the negative trend was the decrease in Apple stocks by 2.6% because of the reduction in demand for the new iPhone X. Its production may be reduced twofold.