(Bloomberg) — A growing number of Wall Street strategists see last week’s stock market rebound as a head fake before more selling, as risks to the US economy and corporate earnings growth remain with stubbornly high inflation. The S&P 500 Index is drifting lower Tuesday after snapping its longest streak of weekly drops in two […]
Read More(Bloomberg) — Calling the current environment a “crucible moment,” Sequoia Capital warned that the good times are not only over, there’s no indication when they’ll return. In a Zoom call earlier this month with the founders of its approximately 250 portfolio companies, the venture firm reviewed a 50-page presentation titled “Adapting to Endure,” according to […]
Read More(Bloomberg) — Tesla Inc. is struggling Tuesday as the electric-vehicle maker’s production woes in China refuse to go away, leading another analyst to slash their 12-month price target on the once high-flying stock. “With about 13,000 units of production per week and higher than average margins, any production loss at Shanghai is bound to have […]
Read More(Bloomberg) — From Apple Inc. to Tesla Inc., some of the biggest names in the S&P 500 Index are fueling a relentless selloff that briefly pushed the broad equities benchmark into bear market territory on Friday. The S&P 500 fell as much as 2.3%, bringing its decline to more than 20% from its record closing […]
Read More(Bloomberg) — The late Nobel Prize-winning economist Paul Samuelson once quipped that Wall Street had predicted nine out of the last five recessions. This time, the stock market may be right. The US economy is starting to show signs of strain under the weight of decades-high inflation and climbing interest rates — raising the risk […]
Read More(Bloomberg) — The selloff in global risk-assets against a backdrop of surging inflation and slowing growth is only getting started, some market participants believe. Faced with an increasingly hawkish Federal Reserve, the risks posed by Russia’s invasion of Ukraine and China’s strict Covid policies, the MSCI All Country World Index is nearing a bear market. […]
Read MoreThe bear market for stocks isn’t over. In fact, it may have a ways to go. This bottom-fishing is more reminiscent of the “slope of hope” that bear markets typically descend than the “wall of worry” bull markets like to climb. That doesn’t mean the U.S. stock market couldn’t mount an impressive rally from current […]
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) — 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) — Wall Street is reluctantly coming to grips with a new reality for 2022: This isn’t going to be a good year for stocks. Credit Suisse cut its forecast for the S&P 500 Index last week. Goldman Sachs Group Inc., Bank of America Corp. and Morgan Stanley are also now predicting that equities will […]
Read More(Bloomberg) — U.S. Treasuries tumbled Monday, driving the yield on five-year notes to the highest level since September 2008 amid speculation persistent inflation will prompt the Federal Reserve to tighten policy more aggressively. The yield jumped as much as three basis points to 3.11%, extending an advance that has seen the rate more than double […]
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) — A day after celebrating the Federal Reserve’s signal that it wouldn’t be making any jumbo-sized moves, traders woke up on Thursday deciding that the central bank will struggle to fight high inflation amid the lingering threat of a recession. In a sharp about-face, investors sold stocks, bonds and cryptocurrencies on Thursday. At one […]
Read More(Bloomberg) — David Wright knows a thing or two about bear markets. His Sierra Tactical All Asset Fund barely lost anything in 2008 as the global financial crisis caused the worst market panic since the Great Depression. Its loss during the Covid rout of 2020 was also relatively small. Wright, who is based in Santa […]
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 […]
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