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 In the first week of September, the markets saw a sudden drop from peak values. That fall was most pronounced in the NASDAQ index, which dropped from 1,200 points - some 10% - in just 5 trading sessions. Since then, however, the situation has stabilized. Stocks have bounced up and down, but the NASDAQ has generally held steady at or near 11,000 for the past three weeks.The holding pattern is likely more important than the slide. It's lasted longer, and appears to represent a classic market correction. The NASDAQ's 5-month run to its September 2 all-time high left it somewhat overvalued, and it's now fallen back to a more sustainable level. This is borne out by a look at three major components of the index, members of tech's ‘FAANG' club.The FAANG stocks are Facebook, Amazon, Apple, Netflix, and Google (Alphabet). They are the 800-pound gorillas of the tech world, companies of enormous size and scope, whose operations and market fluctuations have been a major driver to the NASDAQ, and the overall stock market, in recent years. And three of them have another important point in common, too: each gets a ‘Perfect 10' rating from the TipRanks Smart Score.The Smart Score rates every stock according to set of 8 factors that have historically correlated with future outperformance, and combines them into a simple 1 to 10 scale to indicate the stock's likely future course. Now let's see why these tech giants scored so highly, and what Wall Street's analysts have to say about it.Facebook (FB)First on our list is Facebook. The social media giant has spawned both an i
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The Leuthold Group's Jim Paulsen builds part of his bullish case on diverging confidence levels between Wall Street and Main Street.
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 Stocks rose Wednesday as investors considered the aftermath of a raucous first presidential debate and continued to eye developments among congressional lawmakers for further fiscal stimulus.
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The Dow and S&P 500 end a see-saw session in the plus column and post their best back-to-back quarters since 2009.
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 U.S. stocks finished the session higher Wednesday, shaking off an unsettling presidential debate, to focus on the prospects of a new round of economic stimulus to help Americans and businesses climb from out of the depths of the coronavirus crisis. The Dow Jones Industrial Average closed by about 330 points, or 1.2%, higher at 27,781, on a preliminary basis. The S&P 500 index finished up 0.8%, led by a 1.7% rally in health care , a 1.2% gain in financials and a 1.2% rise in consumer staples ; while the Nasdaq Composite Index ended the session up 0.7% on the session. House Speaker Nancy Pelosi failed to forge a deal with Treasury Secretary Steven Mnuchin on a coronavirus relief package but the pair vowed to continue discussions in an attempt to make headway on a package. In corporate news, shares of data company Palantir Technologies finished the session up 31% in its direct listing on the New York Stock Exchange. Stocks began the day on an unsteady footing as investors parsed the import of a mostly acrimonious presidential debate performance between incumbent President Donald Trump and former Vice President Joe Biden.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Gold futures posted a loss for Wednesday's session, contributing to a decline for the month, but the precious metal notched an eighth straight quarterly gain. "The stats show that it was a great quarter for the metals, but September was a lousy month," said Brien Lundin, editor of Gold Newsletter. A "small uptick in real interest rates" was the primary reason for the month's loss. "Considering the blistering move gold had made earlier in the quarter to over $2,000 an ounce, and the fact that it had failed to build upon that rally, the minor rise in real rates was all that was needed to shake the weak hands out of the gold market and start a sell off," he said. December gold fell $7.70, or 0.4%, to settle at $1,895.50 an ounce. Based on the most-active contracts, prices fell 4.2% for the month, but gained 5.3% for the third quarter, according to Dow Jones Market Data.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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U.S. stocks climbed on Wednesday amid rising hopes for further fiscal stimulus.
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The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed to 33.6 million on Wednesday, according to data aggregated by Johns Hopkins University, while the death toll rose to 1.008 million. The U.S. has the highest case tally at 7.2 million, and highest death toll at 205,998. In the first of three planned presidential debates, President Donald Trump blamed China for the outbreak, while rival Democrat Joe Biden slammed Trump's handling of the crisis. "It is what it is because you are who you are," Biden said, parotting the phrase Trump used in a recent Axios interview regarding the U.S. death toll. Brazil has the second-highest death toll at 142,921, but third-highest case tally at 4.8 million. India is second to the U.S. by case tally at 6.2 million, and has the third-highest death toll at 97,497. Mexico is fourth with 77,163 deaths and seventh with 738,163 cases. The U.K. has 42,162 deaths and 448,734 cases, the highest death toll in Europe and fifth-highest in the world.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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