Tuesday, November 9, 2021
HomeNewsSelling Pressure Dominates S&P 500 And Dow Jones, As NASDAQ Fails To...

Selling Pressure Dominates S&P 500 And Dow Jones, As NASDAQ Fails To Hold Above 16,000

Monday ended on a positive note, only to be reversed in early trends on Tuesday in the stock market. S&P500 after surging in gain for 8th consecutive day, the best such gain in 3 years advanced a little. Other U.S. exchanges such as Dow Jones, NASDAQ Composite, and Russell 2000 happily ended with healthy long green candles.

This was largely due to the momentum built by the Infrastructure Bill passed by the Senate last week. It shall soon receive the President’s assent.

The market is driving up not at a proportional pace, that is to say, “As scary as these heights feel, the market continues trading well. We’ve been solidly overbought for weeks, yet buyers keep throwing even more money at these record highs,” said Jani Ziedins, a Market Blogger.

He described this as the ‘melt up’ as there is a stronger spotlight and sentiment than the actual deliverance, it is yet to see what repercussions it creates in the long term, as it is stabilizing from the changing norms.

The graph of wholesale inflation has been stagnant for over a year at 8.6%. That is the steepest level since the index underwent amendments and recalculations in 2009, and is an alarming number, at par with what was seen in the early 1980s.

Read More: No Rest November Ahead At The Senate

The Federal Reserve also in its bi-annual financial stability report observed that most asset classes are observing high valuation measures. The government-related promissory notes are on lower levels as compared through historical data.

Read More: Ted Cruz Jokes About ‘Texit’ Being A Possibility If Democrats Destroy U.S. Fundamentally

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular