PT Solid Gold Berjangka | S&P 500 Flat As Wall Street Tries To Recover: Live Updates
MARKET UPDATE SOLID GOLD BERJANGKA, SG BERJANGKA , SOLID GROUP, PT SGB , SGB
Solid Gold Berjangka | The S&P 500 was little changed on Monday as the market tried to recover from Friday’s sharp selloff.
The broad index fell 0.2%. The Dow Jones Industrial Average rose 120 points, or 0.3%. The Nasdaq, meanwhile, fell 0.8%.
Big tech stocks came under pressure, sending the Nasdaq Composite down for the day and briefly entering negative territory for 2025. Palantir plunged 10%, dragging the Nasdaq lower. Microsoft fell about 1% after a TD Cowen analyst report said the company was cutting spending on data centers, raising concerns about a weakening artificial intelligence trade. Chipmaker Nvidia fell 1.5%.
Concerns about President Donald Trump’s trade war with major U.S. trading partners continued to weigh on sentiment. Trump said tariffs on Canada and Mexico “will be implemented” after a monthlong delay deadline expires next week.
“The White House has had investor support for the first four weeks of its term, but the honeymoon may be over,” said Scott Helfstein, chief investment strategist at Global X.
The moves follow last week’s stock market rout. The Dow and Nasdaq ended the week down more than 2%, while the S&P 500 dropped more than 1%. On Friday alone, the Dow fell more than 700 points, while the S&P 500 and Nasdaq fell 1.7% and 2.2%, respectively.
The declines came after February data raised concerns about the state of the U.S. economy. Purchasing managers’ index figures showed the U.S. services sector contracted during the month, while the widely followed University of Michigan consumer sentiment index came in weaker than expected.
Next week brings key readings on corporate earnings and the economy. Earnings reports from Home Depot and Lowe’s on Tuesday and Wednesday, respectively, will give investors a better idea of how the U.S. consumer is faring. Nvidia’s earnings report later Wednesday could be more consequential, as the artificial intelligence chipmaker remains one of the largest stocks by market capitalization.
Then, Friday brings the January reading of the personal consumption expenditures index, the Federal Reserve’s preferred measure of inflation.
“Friday’s PCE for January will be very important for the market, as it will help confirm whether inflation did indeed spike in early 2025, given that other January inflation readings, such as CPI and PPI, were very strong for January,” said Clark Bellin, president and chief investment officer at Bellwether Wealth.
However, “Regardless of what Friday’s PCE says, it’s likely the Federal Reserve remains on hold when it comes to interest rate decisions for at least the next six months,” Bellin added. (Newsmaker23)
Source: CNBC