Home Business Live Updates: Top Happenings in Today’s Stock Market – 13 words

Live Updates: Top Happenings in Today’s Stock Market – 13 words

Live Updates: Top Happenings in Today’s Stock Market – 13 words

The Nasdaq-100 Index has experienced a remarkable 14-week winning streak on the first trading day of each week. This streak, which began in late June, is highly unusual and has caught the attention of market experts. Even though the index has modestly declined overall during this period, the strong starts to the week have not translated into sustained gains. According to BTIG chief market technician Jonathan Krinsky, this phenomenon is not only rare but also “bizarre.” The streak even includes holidays such as Labor Day and Independence Day, which fell on a Tuesday and interrupted trading.

Municipal bonds, on the other hand, typically see a decline in performance during September and October. However, Wells Fargo Investment Institute predicts a potential opportunity for investors as the year winds down. Historically, municipal bonds have experienced negative performance in September, but they have rebounded in November and December. For instance, in November 2022, municipal bonds had a return of 4.7%, the best month of performance since 2018. Wells Fargo Investment Institute suggests that a market pullback may present a more attractive entry point for investors heading into the final quarter of the year when technical indicators for munis have typically been more favorable. Sectors such as tobacco, transportation, and healthcare have outperformed the broader municipal bond market.

In the stock market, futures opened little changed on Monday. After a session that witnessed the yield on the 10-year Treasury reaching its highest level since 2007, stock futures tied to the Dow Jones Industrial Average fell slightly. S&P 500 futures saw a slight increase, while Nasdaq 100 futures ticked up. This stability in the futures market follows a period of volatility driven by rising bond yields and concerns about inflation.

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