After A Sharp Pullback And Then A Rally, Stock Market May Be In Consolidation Mode
- Date: 10-Sep-2020
- Source: Forbes
- Sector:Financial Markets
- Country:Gulf
After A Sharp Pullback And Then A Rally, Stock Market May Be In Consolidation Mode
Getty Images
Getty Images
Key Takeaways:
Weekly jobless claims rise more than expected
August producer price index in line with forecasts
GameStop
GME
reports larger-than-expected loss
With little in the way of market moving news overnight, U.S. investors appear to be assessing the recent selloff and bounce in tech-related companies.
Stocks may be in consolidation mode, with investors waiting for a fresh catalyst to move the market one way or another.
Overnight, the European Central Bank stood pat on its policy stance, in line with expectations. In economic news on this side of the pond, initial jobless claims came in at 884,000, compared with a Briefing.com consensus