S&P 500 nears first ‘golden cross’ in 2.5 years, but this doesn’t guarantee more gains ahead
The S&P 500 is on the verge of achieving its first “golden cross” in two-and-a-half years, but that doesn’t mean stocks are destined for more gains over the coming year. The golden-cross indicator is used by technical analysts as a sign that a particular upward trend in markets or currencies is gaining momentum. Barring a […]
Fed rate cuts always lead to stock-market gains — but this one thing must happen too, veteran Wall Street strategist says
It’s way too early to proclaim a Goldilocks environment, even if major asset classes are at least pointing to a better chance of it. The S&P 500 SPX has gained 5% this year, and the tech-heavy Nasdaq Composite COMP is up 8%, even with a seemingly daily stream of job-cut announcements. Stay tuned Thursday to […]
Dow falls 400 points after corporate earnings disappoint
U.S. stocks traded lower Wednesday, led by the Nasdaq Composite, after disappointing corporate earnings results added to fears of a possible recession.How are stocks trading On Tuesday, the Dow Jones Industrial Average rose 104 points, or 0.31%, to 33733, the S&P 500 declined 3 points, or 0.07%, to 4016.95, and the Nasdaq Composite dropped 30 […]
How a money drain in 2023 could upset the banks again and cause another market meltdown, investor warns
Wall Street is pointing to a weak open ahead of Tuesday’s earnings from Microsoft and other big names. That’s a day after soft-economic landing hopes fueled fresh 2023 highs for the S&P 500 SPX and Nasdaq Composite COMP. Diving straight in, our call of the day taps into a potential market worry that may be […]
How the Fed is ‘collapsing’ real estate activity with higher interest rates
U.S. real estate has undergone a dramatic slowdown in transaction activity in the months since the Federal Reserve began jacking up interest rates. Sales of existing homes plunged from peak pandemic levels to about 4.1 million in November (see chart) from over 6 million units sold per year in 2021 as the Fed has dramatically […]
Morgan Stanley’s Mike Wilson warns U.S. stocks could slump another 22% if recession arrives in 2023
U.S. equities could face a sharper-than-expected selloff in 2023 from a recession shock that pushes stocks down another 22% from the current levels, according to Morgan Stanley’s Michael Wilson. The chief equity strategist, who correctly predicted the 2022 stock-market selloff, which saw all three major indexes cement their worst annual losses since 2008, suggested on […]
The Fed delivered a message to the stock market: Big rallies will prolong pain
It was a “don’t make me come back there” moment from the Federal Reserve.A line from the minutes of the central bank’s December policy meeting released Wednesday afternoon was taken by analysts and economists as a warning to financial market participants that bets on a policy pivot in 2023 aren’t welcome. And, to the extent […]