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After a rough day on Monday, the S&P 500 rebounded on Tuesday, benefiting from falling oil prices. The rally was welcomed by stock market investors who were concerned about the recent rise in energy prices and bond yields.
Stock market: indices on the rise!
The S&P 500 rose 0.6% to close above 5,600 for the first time. The Nasdaq Composite also rose 1% to hit a new record close and the Dow Jones Industrial Average gained 20 points. These positive moves in the stock market come at a critical time for oil.
The fall of black gold was a key factor in the recovery of the stock market. Investors reacted positively to the easing, hoping it could ease inflationary pressures that have weighed on markets in recent weeks.
In addition, the positive financial results of some companies helped boost investor confidence. For example, the WD-40 Company saw its shares rise 11% after reporting better-than-expected quarterly results. PriceSmart also added 6% to its value after reporting positive financial results.
Economic outlook for the 4th quarter of 2024
The economic outlook for the stock market in the fourth quarter of 2024 is marked by cautious investor expectations. The recent drop in oil prices could ease inflationary pressures and provide some relief to markets.
However, economic uncertainties remain, particularly due to volatility in bond yields and expectations for the Fed’s interest rate decision at the end of the year. Therefore, stock market investors will be closely watching these upcoming economic reports to better adjust their strategies.
Finally, the S&P 500’s rebound from Monday’s decline shows markets’ resilience in the face of oil price volatility and economic uncertainty. To navigate this complex stock market environment, investors should stay alert to upcoming economic developments and key news.
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The world is evolving and adaptation is the best weapon to survive in this wavy universe. Essentially a crypto community manager, I am interested in anything directly or indirectly related to blockchain and its derivatives. To share my experiences and raise awareness of a field that fascinates me, there is nothing better than writing articles that are both informative and relaxing.
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.
