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Slow Recovery for the NASDAQ, S&P

Written By: ChartChamp

August 8, 2024

This morning we received bullish US jobless claims data. This news is helping investors remain calm about the state of the US economy even though Sahm’s rule was activated last week. Now the narrative is that the US could potentially avoid a US recession. These narratives will always get you in trouble, I would still be cautious after the Sept. pivot.

The NASDAQ and S&P have been pretty neutral despite rebounding from the recent flash crash. I think this recovery has been pretty slow, and there could potentially be a rotation out of the NASDAQ and S&P into other assets such as small caps and crypto.

The US Treasury has reached bond issuance levels not seen since the 2008 financial crisis.

The stock market is having a nice recovery from the flash crash.

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