Stock Market Gain on Weekly Basis. US Stock Markets in particular gained on the previous week on the back of economic indicators and healthy financial results. The depressed banking sector was a surprise for investors as it posted beyond expectation financial results however profit taking on Friday dampened the mood slightly.The prominent equities Index S&P 500 (^GSPC) ended the day down 0.21%, the Dow Jones Industrial Average (^DJIA) a benchmark for indices was down 0.42%, and the tech-heavy Nasdaq Composite (^IXIC) fell 0.35%. Despite the Friday dip, the Dow rose more than 1% for the week.
JP Morgan Gains as Stock Markets perform
Though the stock markets were marginally depressed in last session of trading however shares of JPMorgan (JPM) had a standout day on Friday, rallying more than 7% after the company reported strong quarterly earnings. This marked the stock’s biggest one-day rally since November 2020. Citi (C) also saw shares higher on Friday, while Wells Fargo (WFC) stock was little changed. PNC Financial (PNC) shares on the other hand were under pressure after each bank reported results before the open on Friday. This can potentially have a positive impact on investors trading in stock markets.
Economic Data with Mixed Signals
Economic data also played a role in Friday’s market movements. The preliminary look at consumer sentiment in April from the University of Michigan showed an uptick in consumer inflation expectations. The report revealed that consumer expectations for price increases over the next year rose to 4.6% from 3.6% last month. Investors took this as a sign that the Federal Reserve will need to remain vigilant in keeping interest rates elevated. These headlines caused stocks to forfeit gains, and steady selling in the major indexes pushed stocks to session lows in early afternoon trade. However, an afternoon rebound helped mitigate some of the losses.
Investor’s outlook
Investors will continue to keep an eye on economic data and corporate earnings reports as the stock market navigates an uncertain global environment. The ongoing pandemic, geopolitical tensions, and inflation concerns have all played a role in recent market volatility. As always, it’s important to stay ahead of the market and have a well-diversified portfolio that aligns with your investment goals and risk tolerance.
In a Nutshell
In summary, despite finishing lower on Friday, the stock market logged gains for the week. Shares of JPMorgan rallied more than 7% following a strong quarterly earnings report. While economic data showing an uptick in consumer inflation expectations caused stocks to forfeit gains before an afternoon rebound helped mitigate some of the losses. As always, it’s important to stay ahead of the market and have a well-diversified portfolio that aligns with your investment goals and risk tolerance.
Bitcoin bears are back
Bitcoin is falling again, the bears rule and bulls struggle to maintain a foothold in trading. While the Crypto Currency has experienced a steep fall in the last few months the investor’s appetite is also building a bit due course it seems. And though we have seen some remote signs of a possible trend reversal lately so far in today’s trade Bitcoin is down by -92.05 . And while I fully comprehend the fact that diminution in price can possibly be extremely unfavorable for the investor’s equity, I would however make an attempt to phrase the present situation in a more technical context.
Historical Context
From an all time high of $68000 on November 10, 2021, Bitcoin so far has lost 37579.47 Dollars in terms of price since April, which is about 55.26 in Percentage. Keeping that in view the present day fall actually looks a little more bearable and there is a good chance that the trade pattern might reverse. But if the trend continues it can mean further trouble for the currency.
What are the trends?
Though the time frame or definition of trend might vary. Some analyst agree that the medium term trend is extremely important when analyzing an instrument of similar nature. Bitcoin has gained $ in the last 31 days which implies that the trend is now positive in my view which bodes well for buyers. The long term technical view on the Bitcoin charts stays the same for me i.e. negative, and though it isn’t a bright outlook in any possible manner but a certain threshold of buyers interest is required to break the pattern and reverse the reading on this indicator.
