The Dow Jones Is on The Verge of Losing All the Gains It Made In 2023

Sharing Is Caring !

Dow Jones is set to lose all gains since 2023 as the index fell by 1.4%, or over 400 points, yesterday.

The S&P 500 and Nasdaq had stronger gains than the Dow this year, but the Dow still managed to reach its peak of 8% in August 2023. However, the 10-year Treasury yield surged to 4.787% on Tuesday, its highest level since 2007, which is putting pressure on stocks. The Federal Reserve’s indication of higher-for-longer interest rates has caused investors to adjust their strategy, given the rally earlier in the summer.

On Tuesday, the negative relationship between good news and the stock market continued as the latest Job Openings and Labor Turnover Survey (JOLTS) data showed an increase in job openings, signaling continued strength in the labor market. This news bolstered the case for the Federal Reserve to maintain its aggressive stance on interest rates. Quincy Krosby, Chief Global Strategist for LPL Financial, explained that the market is closely monitoring the path of interest rates, and any indication of a stronger wage environment is a cause for concern, as investors try to determine when – and hopefully if – the Fed is close to ending its current rate-hiking campaign.

On Friday, new payroll data should provide the Fed and markets with additional data points to clarify how concrete the “higher for longer” narrative is and what that implies for the broader economy.

The stock market’s losses so far in October extend a brutal two-month stretch for investors, with September posting the worst monthly loss of 2023. Some pockets of the economy have already seen hard-landing scenarios unfold, such as in manufacturing, housing, and some consumer goods areas, according to Liz Ann Sonders, Charles Schwab’s chief investment strategist. “The recent jumps in the “triple threat” of bond yields, oil, and the dollar — along with a still-murky inflation path — act as hurdles in avoiding more hard landings and/or an officially declared recession, not least because of the increasing likelihood they dent consumer confidence,” Sonders wrote in a note Tuesday. “Of course, any easing in the triple threat could dial back some pressure, but for now, we remain on watch for that.”

This trading signal is locked

Login To Unlock The Signal!

Don’t miss any of our signals!

We don’t spam! Read our privacy policy for more info.

Disclaimer

All information on this website is of a general nature. The information is not adapted to conditions that are specific to your person or entity. The information provided can not be considered as personal, professional or legal advice or investment advice to the user.

This website and all information is intended for educational purposes only and does not give financial advice. Signal Mastermind Signals is not a service to provide legal and financial advice; any information provided here is only the personal opinion of the author (not advice or financial advice in any sense, and in the sense of any act, ordinance or law of any country) and must not be used for financial activities. Signal Mastermind Signals does not offer, operate or provide financial, brokerage, commercial or investment services and is not a financial advisor. Rather, Signal Mastermind Signals is an educational site and a platform for exchanging Forex information. Whenever information is disclosed, whether express or implied, about profit or revenue, it is not a guarantee. No method or trading system ensures that it will generate a profit, so always remember that trade can lead to a loss. Trading responsibility, whether resulting in profits or losses, is yours and you must agree not to hold Signal Mastermind Signals or other information providers that are responsible in any way whatsoever. The use of the system means that the user accepts Disclaimer and Terms of Use.

Signal Mastermind Signals is not represented as a registered investment consultant or brokerage dealer nor offers to buy or sell any of the financial instruments mentioned in the service offered.

While Signal Mastermind Signals believes that the content provided is accurate, there are no explicit or implied warranties of accuracy. The information provided is believed to be reliable; Signal Mastermind Signals does not guarantee the accuracy or completeness of the information provided. Third parties refer to Signal Mastermind Signals to provide technology and information if a third party fails, and then there is a risk that the information may be delayed or not delivered at all.
All information and comments contained on this website, including but not limited to, opinions, analyzes, news, prices, research, and general, do not constitute investment advice or an invitation to buy or sell any type of instrument. Signal Mastermind Signals assumes no responsibility for any loss or damage that may result, directly or indirectly, from the use or dependence on such information.

All information contained on this web site is a personal opinion or belief of the author. None of these data is a recommendation or financial advice in any sense, also within the meaning of any commercial act or law. Writers, publishers and affiliates of Signal Mastermind Signals are not responsible for your trading in any way.

The information and opinions contained in the site are provided for information only and for educational reasons, should never be considered as direct or indirect advice to open a trading account and / or invest money in Forex trading with any Forex company . Signal Mastermind Signals assumes no responsibility for any decisions taken by the user to create a merchant account with any of the brokers listed on this website. Anyone who decides to set up a trading account or use the services, free of charge or paid, to any of the Broker companies mentioned on this website, bears full responsibility for their actions.

Any institution that offers a service and is listed on this website, including forex brokers, financial companies and other institutions, is present only for informational purposes. All ratings, ratings, banners, reviews, or other information found for any of the above-mentioned institutions are provided in a strictly objective manner and according to the best possible reflection of the materials on the official website of the company.

Forex/CFD trading is potentially high risk and may not be suitable for all investors. The high level of leverage can work both for and against traders. Before each Forex/CFD investment, you should carefully consider your goals, past experience and risk level. The opinions and data contained on this site should not be considered as suggestions or advice for the sale or purchase of currency or other instruments. Past results do not show or guarantee future results.
Neither Signal Mastermind Signals nor its affiliates ensure the accuracy of the content provided on this Site. You explicitly agree that viewing, visiting or using this website is at your own risk.

Translate »