{"id":80229,"date":"2023-11-03T10:01:15","date_gmt":"2023-11-03T14:01:15","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/its-been-a-good-week-for-stocks-and-bonds\/"},"modified":"2023-11-03T10:01:19","modified_gmt":"2023-11-03T14:01:19","slug":"its-been-a-good-week-for-stocks-and-bonds","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=80229","title":{"rendered":"It&#8217;s Been A Good Week For Stocks And Bonds"},"content":{"rendered":"<div>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>Equities Up 5% This Week<\/li>\n<li>Bond Yields Tumble<\/li>\n<li>Employment Numbers Weaker Than Expected<\/li>\n<\/ul>\n<p>It&#8217;s been a stellar week for equities. The S&amp;P 500 ended last week at 4117. Thursday it closed at 4317, up nearly 5%. The Nasdaq Composite has turned in an equally impressive run as well, also up nearly 5%. At the same time, we&#8217;ve seen a massive rally in bonds as interest rates tumbled this week. We&#8217;ll see what impact today&#8217;s employment report has as we close out the week.<\/p>\n<p>It was just about two weeks ago when yields on the 10-year note touched 5%, a level not seen in over a decade. In premarket trading, that yield is down to 4.64%. If you&#8217;re new to trading or uninitiated, a 36-basis point move would be akin to an athlete hitting for the cycle in baseball, posting a triple-double in basketball and recording a hat trick in hockey all in the same day. If that still means nothing to you, then I&#8217;ll simply say, what we&#8217;re seeing with rates is unique.<\/p>\n<p>While rates have been tumbling, we&#8217;re also getting very positive earnings reports. According to an article in today&#8217;s Wall Street Journal, 80% of the S&amp;P 500 companies that have reported earnings have topped estimates, that compares with an average of 67%. Some stocks, such as Starbucks<fbs-ticker data-name=\"SBUX\" data-href=\"https:\/\/www.forbes.com\/companies\/starbucks\" data-type=\"stock\"><br \/>\n  SBUX<br \/>\n <\/fbs-ticker>, which was up 9.5% Thursday and Roku, up 31%, have been handsomely rewarded. But what will happen to the biggest name of them all, Apple<fbs-ticker data-name=\"AAPL\" data-href=\"https:\/\/www.forbes.com\/companies\/apple\" data-type=\"stock\"><br \/>\n  AAPL<br \/>\n <\/fbs-ticker>, remains to be seen.<\/p>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad><\/p>\n<p>Last night after the close, Apple reported earnings that beat across the board. However, the company issued a grinch-like holiday forecast and that sent shares down. In premarket activity, Apple is off by around 2%. One thing worth keeping in mind though is the rally Apple has had into earnings. After hitting a low of just over $165.50 last week, the stock hit a high on Thursday of nearly $178. Therefore, despite being down from yesterday&#8217;s close, Apple has still had a nice week.<\/p>\n<p>The big news today; however, is the employment report. Estimates were calling for 180 thousand new jobs created and an unemployment rate of 3.8%. The actual numbers showed 150 thousand jobs added and an unemployment rate of 3.9%. Employment figures for both August and September were also revised slightly lower. One caveat to keep in mind with today&#8217;s report is the impact of the United Auto Workers strike. The motor vehicles category saw a loss of 33 thousand jobs largely attributable to the strikes. Still, the weaker than expected numbers offer further hope that inflation is coming under control.<\/p>\n<p>All in all, it&#8217;s been a good week for investors and in premarket trading following the employment report, there&#8217;s reason to hope we&#8217;ll end this week on a high note. Not only have yields dropped and equities gained, but the gains have come on very strong volume, which is a positive. I often use the metaphor of a shopping cart in discussing the relationship between prices and volume. It&#8217;s very easy to push a shopping cart with nothing in it, much as it&#8217;s much easier for prices to move on low volume. Fill that cart up with groceries and suddenly it takes quite a bit more effort and determination to push it around. That&#8217;s similar to what we&#8217;re seeing this week with strong volume making a concerted effort at pushing prices higher. Both the S&amp;P 500 and Nasdaq Composite are back comfortably above their 21 and 200-day moving average, let&#8217;s see if they can also break their respective 50-day average next. As always, I would stick with your investing strategy and long term plans.<\/p>\n<p><em>tastytrade, Inc. commentary for educational purposes only. This content is not, nor is intended to be, trading or investment advice or a recommendation that any investment product or strategy is suitable for any person.<\/em><\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/jjkinahan\/2023\/11\/03\/its-been-a-good-week-for-stocks-and-bonds\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Equities Up 5% This Week Bond Yields Tumble Employment Numbers Weaker Than Expected It&#8217;s been a stellar week for equities. The S&amp;P 500 ended last week at 4117. Thursday it closed at 4317, up nearly 5%. The Nasdaq Composite has turned in an equally impressive run as well, also up nearly 5%. At [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":80230,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-80229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>It&#039;s Been A Good Week For Stocks And Bonds | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Key Takeaways Equities Up 5% This Week Bond Yields Tumble Employment Numbers Weaker Than Expected It&#039;s been a stellar week for equities. 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