S&P 500 reclaims 3850 on upbeat sentiment as recession fears fade

The S&p 500, the Nasdaq, and the Dow Jones extend gains between 4 and 5 percent in the week. UoM Consumer Sentiment plunged, and inflation expectations got lower, seen as a relief by traders. Fed’s Bullard commented that fears of a recession are overblown. US equities are rising for the second consecutive day, and despite … Read more

GGPI shares dropping Thursday despite Polestar merger completion

Gores Guggenheim voted on Wednesday to take Polestar public. Polestar will list under the ticker PSNY on the Nasdaq and start trading on June 24. GGPI stock rose 12% on Wednesday in anticipation of the deal going through. UPDATE: GGPI shares are strangely unenthused by the official merging of the SPAC with Polestar. GGPI shares … Read more

S&P 500 opens with gains and reclaims 3770 on Powell’s second day at the Congress

US stocks indices some ground after registering minimal losses on Wednesday. S&P Global PMIs indices missed expectations, dragging equities lower. The Nasdaq Composite leads the pack, followed by the S&P 500 and the Dow Jones. The greenback recovers some ground though US Treasury yields are falling as traders backpedaled against an aggressive Fed. US equities … Read more