(Bloomberg) — Three days of heavy selling in technology stocks has erased about $1.5 trillion in market value from the Nasdaq 100 Index. The tech-heavy benchmark sank 4% on Monday, extending its decline to 10% since the Federal Reserve raised interest rates half a percentage point last week and Chair Jerome Powell signaled the Fed […]
Read More(Bloomberg) — First it was a rout in the stay-at-home names that surged in the pandemic. Then speculative software makers with barely any earnings went south. Now the giant technology names whose sway on benchmarks has been decried by bears for years are dragging the market down. Dizzying as the downdraft has been, you can’t […]
Read More(Bloomberg) — For a measure of just how brutal Thursday’s reversal was in U.S. equities, take a look at where cash was moving in the ETF market earlier in the week. In the three days through Wednesday, investors added $426 million to the ProShares UltraPro QQQ ETF (ticker TQQQ), a leveraged product that delivers three-times […]
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) — The negativity in the U.S. stock market has become so overwhelming that a rebound may not be far off, JPMorgan Chase & Co.’s strategists say. In a note to clients, analysts led by Marko Kolanovic pointed to the closely watched American Association of Individual Investors survey hitting the most bearish mark since early […]
Read More(Bloomberg) — The selloff in U.S. stocks has a lot further to go, according to one of Wall Street’s most vocal bears. “We think the S&P 500 has minimum downside to 3800 in the near term and possible as low as 3460,” Morgan Stanley’s chief U.S. equity strategist Michael Wilson said. The gloomy forecast implies […]
Read More(Bloomberg) — U.S. equities declined at the start of a busy week for corporate earnings as investors are closely watching results for insights into the effect of inflation and consumer spending as the Federal Reserve steps up policy tightening. The S&P 500 and Nasdaq 100 slipped more than 1.5% after Monday’s choppy gains. General Electric […]
Read More(Bloomberg) — The S&P 500 is about to drop sharply, Morgan Stanley’s Michael J. Wilson warned, as investors struggle to find havens amid fears of a recession and aggressive tightening by the Federal Reserve. “With defensive stocks now expensive and offering little absolute upside, the S&P 500 appears ready to join the ongoing bear market,” […]
Read More(Bloomberg) — Massive outflows from U.S. equity funds are just getting started as the Federal Reserve ramps up its hawkish rhetoric, according to Bank of America Corp. strategists. In the week through April 20, investors pulled $19.6 billion from U.S. large caps, the largest exit since February 2018, the strategists wrote in a note dated […]
Read More(Bloomberg) — The feel-good days for global markets at the end of March are firmly over. Everything from stocks to bonds is falling — even oil has pulled back from near records — in a concerted cross-asset selloff with echoes of the rate-spurred rout of October 2018. Blame it on a Federal Reserve intent on […]
Read More(Bloomberg) — Don’t be fooled by the stock market’s rapid-fire reaction to the news. It’s just the beginning of the first real slog in years, one that will hand a comeuppance to passive investors who once thought the only way for prices to go was up. That’s the view of James Abate, whose Centre American […]
Read More(Bloomberg) — Cyclical shares tied to the U.S. economy’s health including banks, homebuilders and transports are struggling against the broader stock market, a telltale sign that investors remain hesitant to pour money into riskier corners of the market, according to BTIG, a U.S. brokerage firm. The S&P 500 Index has rebounded 8% since Russia’s invasion […]
Read More(Bloomberg) — War, inflation and the lingering impact of a global disease made the first quarter a historically rough one for stock and bond investors. Across equity and fixed-income markets broadly, the least-bad performance among U.S. assets were declines of 4.9% in the S&P 500 and speculative credit. They were followed by a 5.6% fall […]
Read More(Bloomberg) — Investors are scrambling for safety as risks mount, from the war in Ukraine to rising interest rates and a global recession. They have found it in the U.S. stock market — particularly the biggest American companies. The S&P 500 Index is up more than 8% over the past two weeks, recouping all of […]
Read More(Bloomberg) — Neither war, disease nor inflation are proving capable of preventing American stocks from doing what they’ve almost always done for 13 years: go up. How policy makers devoted to getting inflation under control will view that is becoming a hot topic on Wall Street. Right now, the 6.6% surge in the S&P 500 […]
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