Home Business Today’s live stock market updates in 13 words or less

Today’s live stock market updates in 13 words or less

Today’s live stock market updates in 13 words or less

The Nasdaq-100 Index has experienced a remarkable rally, rising for 14 consecutive weeks on the first day of trading. This streak, noted by BTIG’s chief market technician Jonathan Krinsky, is highly unusual and even includes holiday interruptions. Despite the strong starts to the week, the Nasdaq-100 has only seen modest overall gains during this period. The consistency of these Monday rallies has been described as “extremely rare” and “bizarre” by industry experts.

According to Wells Fargo Investment Institute, a shopping opportunity may be emerging in municipal bonds as the year comes to a close. While municipal bonds typically experience negative performance in September and October, historically, they have seen a boost in November and December. In September 2022, municipal bonds had a return of -3.8%, marking the worst month of performance in recent years. Analysts believe that a pullback in the market during this period could present an attractive entry point for investors.

In stock futures trading, little change was observed on Monday following a session that saw the yield on the 10-year Treasury climb to its highest level since 2007. Dow Jones Industrial Average futures fell slightly, while S&P 500 futures and Nasdaq 100 futures experienced minimal gains. The stability in stock futures suggests a cautious market sentiment in response to the fluctuations in the bond market.

Overall, the Nasdaq-100’s 14-week rally on Mondays, the potential opportunity in municipal bonds, and the stable stock futures reflect the current dynamics in the financial markets. Investors are closely monitoring these developments and making strategic decisions based on market trends and opportunities.

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