P Spx: July Rate and Stock-Market Pullback

p spx: Ahead of the data, investors had pushed all three major U.S. stock indexes the S&P 500 SPX, 0.23% the Dow Jones Industrial DJIA, 0.85% and the Nasdaq Composite COMP, -0.08% to record finishes last Wednesday, with buying enthusiasm attributed to enthusiasm for aggressive Fed monetary easing after recent weak economic data, according to Market Watch. On Wednesday, the S&P 500 topped 3,000 for the first time after Fed Chairman Jerome Powell appeared to signal that a July rate cut remained likely amid uncertainty over the economic outlook. The good-news-is-bad-news version of the phenomenon was on display last Friday after a stronger-than-expected U.S. June jobs report triggered a modest stock-market pullback as investors scaled back the scope of expected interest-rate cuts by the Federal Reserve. See S&P 500 index tops 3000 for first time here's what it means and how the stock market got here Echoes of 2001 and 2007 The counter-intuitive dynamic, which has investors expressing disappointment over strong economic data and joy over weak numbers, has exasperated some market observers, but it's hardly a new phenomenon, noted Fran ois Trahan, a strategist at UBS, in a note to clients. Indeed, there were similar short-lived periods of enthusiasm in both 2001 and 2007 as investors began to focus on coming rate cuts. The excitement investors are currently showing over impending Fed easing is fairly typical, Trahan wrote. (news.financializer.com). As reported in the news.