STARTRADER Monday’s Market Update 14-08-2023

The NASDAQ and S&P 500 indices declined at the close on Friday, marking losses for the second consecutive week. This was prompted by a higher-than-expected reading for the US Producer Price Index, which led to an increase in Treasury bond yields and a drop in shares of major technology companies.

Analysis revealed that Apple has spent over $500 billion on stock buybacks over the past decade, specifically since 2012. This amount exceeds the total market value of giant companies like Visa, JPMorgan, or Exxon Mobil.

Markets are anticipating the release of the Federal Open Market Committee (FOMC) Meeting Minutes next Wednesday in an attempt to figure out whether the Fed has concluded its monetary tightening cycle.