(Bloomberg) — The tailspin in Tesla Inc. shares accelerated Tuesday as a report of a plan to temporarily halt production at its China factory rekindled fears about demand risks and put the stock on pace for its longest losing streak since 2018. Shares of the Elon Musk-led company fell about 4% to $118.01, for a […]
Read More(Bloomberg) — Worried? Yes. But investors have evinced few signs of panic amid a stock market drubbing that has wiped out $3 trillion, going by everything from fund flows to options trading. One sign nerves are in check: as the S&P 500 dropped more than 3% Friday, the Cboe Volatility Index, a measure of options […]
Read More(Bloomberg) — Stock markets are yet to see full capitulation from investors, raising the risk of more declines in the short term, according to Sanford C. Bernstein strategists. “We have not yet seen capitulation in outflows from equity funds,” strategists Mark Diver and Sarah McCarthy wrote in a note on Wednesday. “In fact outflows, excluding […]
Read More(Bloomberg) — With stocks, bonds and crypto plummeting, inflation out of control and months of Federal Reserve tightening to come, it’s starting to feel like everything that can go wrong in financial markets is. Panic is in the air. For traders looking for a silver lining, that’s about the best that can be said. The […]
Read More(Bloomberg) — Get ready for a fresh slump in the world’s most-watched stock index, as economic growth fears spiral and the Federal Reserve embarks on its biggest policy-tightening campaign in decades. With the S&P 500 flirting with a bear market last week and notching more than $1 trillion in losses, participants in the latest MLIV […]
Read More(Bloomberg) — It’s been hard to watch, impossible to predict and a nightmare to trade. But has the S&P 500’s slide been an unqualified panic to date? By some measures no, and that might bode poorly for equities in the near term. Even with the US stock benchmark plunging 20% from a record for the […]
Read More(Bloomberg) — Money is leaving every asset class and the exodus is deepening as investors rush out of names like Apple Inc., according to Bank of America Corp. strategists. Equities, bonds, cash and gold all saw outflows in the week ended May 11, strategists led by Michael Hartnett wrote in a note, citing EPFR Global […]
Read More(Bloomberg) — Online used-car dealer Carvana Co. is trading as if the pandemic that spurred an almost 1,200% surge in its stock price never happened. Wall Street, however, has yet to fully adjust to the company’s new reality. Analysts’ average target on the stock has tumbled 68% this year, but at $117 is still more […]
Read More(Bloomberg) — The rout in stocks isn’t over just yet, according to Morgan Stanley strategists, who see scope for both US and European equities to correct further amid mounting concerns of slowing growth. Strategist Michael Wilson, who has long been a skeptic of the decade-long bull run in US stocks, said in a note that […]
Read More(Bloomberg) — Software shares took their hardest hit since March 2020 as investors shunned the priciest corner of the U.S. technology group that’s particularly vulnerable to higher interest-rates and slower economic growth. Tech losses were huge on Thursday with the Nasdaq 100 Stock Index sinking more than 5%. But for software makers such CrowdStrike Holdings […]
Read More(Bloomberg) — For decades, global finance firms eagerly catered to Russian firms, billionaires and the government. Then tanks started rolling into Ukraine. Citigroup Inc., which has thousands of staff and billions of dollars of assets in Russia, has said it will cut back much of its business in the country. Goldman Sachs Group Inc., JPMorgan […]
Read More(Bloomberg) — In the face of an increasingly chaotic geopolitical environment, equity investors should avoid panic selling and focus on the market fundamentals, according to JPMorgan Chase & Co.’s head of global equity strategy Mislav Matejka. “If one is selling on the back of the latest geopolitical developments now, the risk is of getting whipsawed,” […]
Read More(Bloomberg) — Deutsche Bank AG is betting the diverging policy paths between the Federal Reserve and the People’s Bank of China will result in U.S. equities correcting further and China’s getting a boost, joining several other Wall Street banks in making the call. The German lender’s international private banking unit downgraded U.S. equities to neutral […]
Read More(Bloomberg) — Losses are picking up in very-high-priced technology stocks that had recently grown in popularity among hedge funds. Farfetch Ltd. and Snowflake Inc. fell, driving a basket of software and internet companies that have yet to earn any money down more than 5%, its biggest decline since March, data compiled by Goldman Sachs Group […]
Read MoreInstead of following my normal routine, which is to highlight a specific stock, I think today it’s probably a good idea to pull the lens back and take a look at the broader market. It’s practically impossible to ignore the fact that the market dropped into bear market territory last week. Fear and, yes, even […]
Read More