The Stock Market Correction Is Already Over!
July 03, 2013
Market Information for this Week.....
The Stock Market Correction Is Already Over! – July 03, 2013
After months of warnings from various quarters that a market correction was imminent, the long overdue pullback finally arrived. The S&P 500 fell almost 100 points, or 5.8%, from its all-time high of May 21. It was the first 5% market correction in over 200 days.
It appeared that stocks might be going to have some further suffering for a while, but this was not to be. Last week the markets recovered. The S&P is up 3.3% in the last five trading sessions, reclaiming most of the losses suffered during its month-long mini-slump.
The Past Week in the Stock Market – July 01, 2013
The DOW and S&P 500 finished near session lows on Friday of the past week, as investors were reluctant to jump in following a three-day rally, but major averages still capped the volatile quarter with gains.
Stocks finished lower for the month of June, logging their first monthly drop this year. But all three major averages logged their third winning quarter in four. And so far for the year, the Dow has surged more than 13.8 percent, while the S&P 500 tacked on 12.6% and the Nasdaq jumped 12.7%.
The Week Ahead in the Stock Market – July 01, 2013
Choppy, thin trading will likely be the state of play in the week ahead as traders wait for the important June jobs report Friday and fret about what the Federal Reserve might do.
The S&P 500's 12.6-percent gain in the first half was the best since 1998 but the index lost 1.5 percent for the month of June amid a volatile bond market and soaring interest rates. This has set a tentative note for the second half of the year.
Manufacturing data and jobs-related reports are the highlights of the U.S. economic calendar in the week ahead and investors will be keeping a close eye on interest rates.
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