Market Summary 6th November 2023
Today, there wasn't much big news affecting the stock market, so things shifted a bit from the growth we saw last week. The Nasdaq and S&P 500, which are like scoreboards for the stock market, managed to score small wins. However, groups of stocks that are known for more ups and downs, like the Russell 2000 $iShares Russell 2000 ETF(IWM.US$ and ARKK $ARK Innovation ETF(ARKK.US$, both fell by 1.25% and 1.66%.
There's a bit of good news, though. More stocks are reaching new high prices on the Nasdaq, and this positive trend has been happening for three days on the NYSE, another big stock market scoreboard. This shows that even if some stock groups are having a rough time, there's still some winning happening behind the scenes.
Also, a little fewer stocks are doing better than they were five days ago, dropping to 81% from a really high 91%. But overall, things are looking pretty good in the market. If the stocks can keep their current value for a few more days, that would be impressive. The biggest challenge will be to see how the market responds to Mr. Powell's talks later this week. He's a very influential person when it comes to the U.S. economy, so his words can really move the stock market.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Swing Trader 📈
Growth stocks 🏆
FB: Nigel Chong 庄证评 🌟
Influenced by MM VCP Trading Style & WON CANSLIM 💯
7359Followers
64Following
20KVisitors
Follow