Wall Street Takes Roller Coaster Ride As Economic Data Shifts; Mortgage Rates Decline; Trump Pressures Fed On Rate Cuts: This Week In The Markets
Portfolio Pulse from Piero Cingari
Wall Street experienced significant volatility this week due to mixed economic data and speculation about Federal Reserve rate cuts. The SPDR S&P 500 ETF Trust (SPY) saw a strong recovery after initial panic selling, driven by better-than-expected service sector data and dovish statements from the Bank of Japan. Mortgage rates dropped to their lowest levels in over a year, potentially boosting home prices.
August 09, 2024 | 7:38 pm
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The SPDR S&P 500 ETF Trust (SPY) experienced a strong recovery after initial panic selling, driven by better-than-expected service sector data and dovish statements from the Bank of Japan.
The SPY ETF, which tracks the S&P 500, saw a significant recovery after initial panic selling. This was driven by positive economic data and dovish statements from the Bank of Japan, which helped boost investor sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100