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The S&P 500 and Nasdaq managed to inch higher on Monday, but the trading session was far from smooth. Here's a breakdown of the key factors: Market Volatilit

Upward Grind for S&P 500 and Nasdaq Despite Market Jitters

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The S&P 500 and Nasdaq managed to inch higher on Monday, but the trading session was far from smooth. Here's a breakdown of the key factors:

  • Market Volatility: Uncertainty prevailed due to:

    • Soft Manufacturing Data: News of slowing U.S. manufacturing activity for the second month in a row raised concerns about weakening economic growth.
    • NYSE Glitch: A technical issue caused wild swings in Berkshire Hathaway and Barrick Gold shares, leading to trading halts for over 60 NYSE-listed stocks.
  • Cautious Trading: Investors remained hesitant, waiting for further market direction after recent earnings reports.

  • Index Performance:

    • S&P 500 and Nasdaq ended slightly higher after recovering from earlier losses.
    • The Dow Jones Industrial Average (DJIA) closed in the red.
  • Sector Performance:

    • Technology stocks led the gains, possibly reflecting some investors seeking value after recent downturns.
    • Energy stocks suffered the most significant losses.
  • Analyst Viewpoint: Keith Lerner, co-chief investment officer at Truist Advisory Services, attributed the choppy trading to investor indecisiveness, waiting for the next major market driver to emerge.

Overall, Monday's market action reflected a cautious and volatile environment. While the S&P 500 and Nasdaq managed to edge higher, underlying concerns about economic growth and recent market events created a hesitant trading atmosphere.

Industry PE Ratio as a Valuation Tool

For investors interested in comparing Intel's valuation relative to its industry peers, the Financial Modeling Prep (FMP) Industry PE Ratio API https://site.financialmodelingprep.com/developer/docs/industries-pe-ratio-api provides a valuable resource. This API offers daily updated industry PE ratios, allowing you to assess whether the technology sector, where Intel operates, is currently overvalued or undervalued. By leveraging this API and similar valuation tools, investors can make more informed decisions about their technology holdings.

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