{"id":104800,"date":"2024-08-17T00:11:09","date_gmt":"2024-08-16T20:11:09","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=104800"},"modified":"2024-08-17T04:47:50","modified_gmt":"2024-08-17T00:47:50","slug":"stocks-cap-best-week-of-the-year-after-early-sell-off-reversal","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/stocks-cap-best-week-of-the-year-after-early-sell-off-reversal\/08\/17\/market-updates\/","title":{"rendered":"Stocks Cap Best Week of the Year After Early Sell-Off Reversal"},"content":{"rendered":"\n<p>US markets closed higher on Friday, securing the best week for stocks since November 2023. This comes after a rally on Thursday that erased losses suffered during the early August sell-off.<br><br><strong>Key Developments:<br><\/strong><br>All major indexes gained for the week, with the S&amp;P 500 (^GSPC), Nasdaq Composite (^IXIC), and Dow Jones Industrial Average (^DJI) each up around 0.2% on Friday. This positive performance follows a tumultuous week where concerns about a recession initially triggered a market decline. Reassuring economic data, including a rebound in consumer sentiment and moderating inflation, helped calm investor anxieties.<br><br>Thursday&#8217;s key economic readings on consumer spending and Walmart&#8217;s earnings report indicated consumer resilience. Investors are now less convinced of the need for a drastic 0.50% rate cut from the Federal Reserve and anticipate a more likely 0.25% reduction in September. All eyes are on Fed Chair Jerome Powell&#8217;s speech at the Jackson Hole Symposium next week for further guidance on monetary policy.<br><br><strong>Notable Events:<br><\/strong><br>FuboTV stock surged after a court blocked the launch of a competitor&#8217;s sports streaming service. Gold prices surpassed $2,500 per ounce for the first time due to high inflation, India&#8217;s market demand, and geopolitical risks. <br><br>Vice President Kamala Harris is expected to detail her economic policy plans in a speech on Friday. Housing starts in the US reached a four-year low in July due to high interest rates.<br><br><br>The stock market rebounded this week, fueled by positive economic data and a revised outlook on potential Fed rate cuts. However, investors remain cautious as they await further developments, particularly from the Jackson Hole Symposium.<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>US markets closed higher on Friday, securing the best week for stocks since November 2023. This comes after a rally on Thursday that erased losses suffered during the early August sell-off.Key Developments:All major indexes gained for the week, with the S&amp;P 500 (^GSPC), Nasdaq Composite (^IXIC), and Dow Jones Industrial Average (^DJI) each up around &hellip;<\/p>\n","protected":false},"author":13,"featured_media":53440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[9935,7107,9822],"class_list":["post-104800","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-jackson-hole","tag-kamala-harris","tag-retail-sales-data"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=104800"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104800\/revisions"}],"predecessor-version":[{"id":104809,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104800\/revisions\/104809"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53440"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=104800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=104800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=104800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}