(Bloomberg) — Investors are hoarding cash and hiding in US Treasuries as they dump equities amid fears that the US economy is headed for a recession. Nearly $63 billion flowed into cash in the week through July 6, while global equity funds had redemptions of $4.6 billion, according to Bank of America Corp. note citing […]
Read More(Bloomberg) — Elon Musk’s fortune plunged almost $62 billion. Jeff Bezos saw his wealth tumble by about $63 billion. Mark Zuckerberg’s net worth was slashed by more than half. All told, the world’s 500 richest people lost $1.4 trillion in the first half of 2022, a dizzying decline that marks the steepest six-month drop ever […]
Read More(Bloomberg) — A “recession shock” begins for markets following the worst first-half for the S&P 500 in more than 50 years, Bank of America Corp.’s Chief Investment Strategist Michael Hartnett says. While expectations of aggressive rate hikes by the Federal Reserve are peaking, inflation expectations are not, and Bofa’s bull and bear indicator remains at […]
Read More(Bloomberg) — Skeptics have long made a sport of predicting that the decade-long rally in technology stocks was destined to reverse. At the halfway point of 2022, it seems like this is the year when they will be proven right. The Nasdaq 100 Index has tumbled by almost a third this year, including a 1.3% […]
Read More(Bloomberg) — Not many industry experts would shrug off a 35% drop for the S&P 500, but six-decade Wall Street veteran George Ball says a fall of that magnitude would be a normal adjustment. Ball, chairman of Houston-based investment firm Sanders Morris Harris, predicts the S&P 500 will bottom at 3,100 from its all-time high […]
Read More(Bloomberg) — The S&P 500 Index may have another 24% to fall by year-end, if the past 150 years of financial-market history are any guide. That’s according to Societe Generale, which calculates the benchmark gauge may need to tumble as much as 40% from its January peak in the next six months to hit bottom. […]
Read More(Bloomberg) — Equities have yet to fully price in the risk of a recession and may have further to fall, according to Morgan Stanley and Goldman Sachs Group Inc. strategists. Although this year’s slump in US stocks has left them more fairly priced, the S&P 500 Index needs to drop another 15-20% to about 3,000 […]
Read More(Bloomberg) — For all the talk of bear markets and a possible recession, investors continue to pile into American equities. US stocks attracted $14.8 billion in the week to June 15, their sixth consecutive week of additions, according to Bank of America Corp. strategists, who cited EPFR Global data. In total, $16.6 billion flowed into […]
Read More(Bloomberg) — Downward spiraling stocks are showing no signs of finding a floor. Brace yourself, because at least one forecasting framework says the bottom may still be a ways away. That’s an interpretation of data compiled by Leuthold Group, using a particularly bloodless standard of analysis that focuses not on investor psychology or positioning but […]
Read More(Bloomberg) — The smart money dumped stocks at the fastest pace on record as a vicious selloff sent the S&P 500 into a bear market. Hedge funds tracked by Goldman Sachs Group Inc. offloaded US equities for a seventh straight day Monday, with the dollar amount of selling over the last two sessions exploding to […]
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) — Even after this year’s rapid selloff, equities are still not fully reflecting the vast risks facing corporate earnings and weaker consumer demand, according to strategists at Morgan Stanley and Goldman Sachs Group Inc. “The Equity Risk Premium does not reflect the risks to growth, which are increasing due to margin pressure and weaker […]
Read More(Bloomberg) — When the nineties ended, an overvalued stock market took three long years to rid itself of its accumulated excess in what is now known as the dot-com crash. That a similar reckoning has needed just 14 months to play out now is a sign of how fast moving this market is — and […]
Read More(Bloomberg) — Cathie Wood’s Ark Investment Management is suffering a steeper drop in assets than almost any other US exchange-traded fund issuer this year. Ark’s lineup holds $15.3 billion across nine ETFs, a 48% decrease from the start of 2022, according to data compiled by Bloomberg Intelligence through June 1. That’s the biggest collapse in […]
Read More(Bloomberg) — Jamie Dimon warned investors to prepare for an economic “hurricane” as the economy struggles against an unprecedented combination of challenges, including tightening monetary policy and Russia’s invasion of Ukraine. “That hurricane is right out there down the road coming our way,” the JPMorgan Chase & Co. chief executive officer said at a conference […]
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