market update

U.S. markets opened mostly to the downside on Thursday following mixed economic news with Tech showing some strength to start the session. However, news that the Supreme Court rejected President Trump’s bid to block a New York subpoena seeking his tax returns led to additional selling pressure.

U.S. markets were sluggish throughout the first half of action on Wednesday as the major indexes traded on both sides of the ledger and in tight ranges. News that President Trump said Americans can look forward to another round of stimulus checks before the end of the year was offset by the continuing rise in coronavirus cases.

U.S. markets opened lower to start Tuesday’s session as persistent concern over rising coronavirus cases and a retrenchment in reopenings weighed on sentiment. Optimism over the growth outlook was back under renewed pressure, as the surge in infections continues to hamper reopenings with California, Florida and Texas pulling back on their opening processes.

U.S. markets closed higher on Monday following a 3-day weekend as Wall Street prepares for a light opening to 2Q earnings and the official start coming next week with the Financial sector. Better-than expected economic news and merger & acquisition headlines helped pushed the major indexes towards early and mid-June resistance levels.

U.S. markets showed strength throughout Thursday’s session following another blowout jobs report and a rebound in factory orders. Ongoing concerns over steadily rising coronavirus cases pulled the major indexes off their best levels but not before Tech tagged a fresh all-time intraday and closing high.

U.S. markets showed strength on Wednesday’s open as encouraging news on the coronavirus vaccine front lifted sentiment. A mixed bag of economic news kept the gains in check as Wall Street awaited the afternoon meeting minutes from the Fed.

U.S. markets opened slightly lower to start Tuesday’s session as mixed economic news weighed on sentiment. The losses were quickly recovered with tight trading ranges and consolidation forming afterwards as Wall Street awaited comments from Treasury Secretary Mnuchin and Fed Chairman Powell’s testimony to Congress.

U.S. markets rebounded to start the shortened holiday week as better-than-expected economic news outweighed ongoing coronavirus concerns. The gains helped keep 3-week trading ranges intact while pushing the major indexes back into positive territory for the month.

U.S. markets opened lower for the 2nd-straight session following another spike in coronavirus cases and an elevated weekly jobless claims number. News that the governor of Texas has halted the reopening of the economy was also a concern with the surge in cases possibly slowing the recovery nationally.