Good MorningEquity markets extended the sell-off on Wednesday, bringing the S&P 500's losses to 4.5%. Because the correction is gaining momentum, it could exceed the 5% mark and move down as much as 10% before hitting solid resistance. The move is driven by rising fear that the FOMC will not cut interest rates as soon as expected and a round of weaker-than-expected earnings.
Earnings from ASML suggest caution among chip-makers and the potential for weaker-than-expected results for the industry. Earnings from J.B. Hunt Transport suggest persistent economic weakness beyond analysts' expectations and weaker-than-expected results for the transportation industry. The takeaway is that the outlook for the year is deteriorating quickly.
Selling may intensify today and tomorrow. The PCE index is due out next week and will likely echo the CPI report. If so, the odds of a rate cut this year will fall, undercutting the already diminishing outlook for S&P 500 earnings growth. In this scenario, the S&P 500 could fall as much as 20%, and a decline of 30% is not impossible. Featured: Buffett to put 90% of his money in this one stock? (Ad) 
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Are you trying to predict the next bear market? If so, you might want to consider the magnitude of the task first. Many millions have been lost predicting bear markets that never materialize, while significant drawdowns are triggered entirely out of the blue by events like COVID-19.
Tr... Read the Full Story |
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From Our Partners | | New Hampshire just launched a Strategic Crypto Reserve — and James Altucher says it’s the first sign that “Trump’s Great Gain” has officially begun.
Altucher believes select cryptos could turn $900 into $108,000 over the next 12 months — and he’s laying out the full gameplan in a new presentation. | | See Altucher’s Trump crypto prediction here |
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Markets | | | Stock buybacks, also called stock repurchases, are important drivers of shareholder value, which is one of the reasons why Marketbeat tracks the data. As the name suggests, a buyback is when a company buys back its own shares from the market.
Buybacks are a form of capital return that can off... Read the Full Story |
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Markets | | | European Union leaders on Thursday debated a new “European Competitiveness Deal” aimed at helping the 27-nation bloc close the gap with Chinese and American rivals amid fears the region's industries will otherwise be left behind for good.In a volatile geopolitical landscape redefined by the ongoing ... Read the Full Story |
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Markets | | | European Union leaders on Thursday debated a new “European Competitiveness Deal” aimed at helping the 27-nation bloc close the economic production gap with Chinese and American rivals amid fears the region's industries will otherwise be left behind for good.In a volatile geopolitical landscape redef... Read the Full Story |
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Markets | | | United Airlines (NASDAQ: UAL) delivered a surprisingly solid performance in the first quarter of 2024, exceeding analyst projections on several key financial metrics. While the global airline sector continues to navigate economic and regulatory challenges, United Airlines' earnings results and ... Read the Full Story |
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From Our Partners | | It’s Crypto Week at the White House — and the sector is moving from fringe to full-scale adoption.
With Bitcoin hitting $123,000 and giants like BlackRock and Fidelity pouring in, one expert believes a lesser-known coin could soon be vaulted to the top — possibly even landing in the government’s digital reserve. | | See the coin positioned to win from Washington’s crypto push |
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Stocks | | | Asian stocks tumbled Friday, with Japan’s Nikkei slumping 3.5% on heavy selling of semiconductor-related shares and other market heavyweights. Tensions in the Middle East were weighing on sentiment across the region, and U.S. futures were sharply lower.Oil prices jumped about $3 as the state-run IRN... Read the Full Story |
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Markets | | | CSX dealt with weather challenges and the closure of the Baltimore port as the railroad saw its first-quarter profit slip 10%, but it still managed to keep most of its customers happy with reliable service.The Jacksonville, Florida-based railroad said Wednesday that it earned $893 million, or 46 cen... Read the Full Story |
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J.B. Hunt (NASDAQ: JBHT) is amid an industry normalization that will reinvigorate its market. However, the normalizing is taking longer than expected, and there are risks to the economy that point to lower price action before the recovery can begin. The primary is inflation and its impact on inter... Read the Full Story |
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Markets | | | United Airlines said Tuesday that it lost $124 million in the first quarter, which it blamed on a three-week grounding of all Boeing 737 Max 9s after a panel blew off an Alaska Airlines Max jetliner in January.United indicated it would receive far fewer new planes from Boeing this year than it expec... Read the Full Story |
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Artificial intelligence (AI) is propping up the computer and technology sector, but it's also helping many other industries involved in collecting, procuring and providing real-time data. Planet Labs PBC (NYSE: PL), which was started by NASA scientists in 2010, operates a network of over 200... Read the Full Story |
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Thursday's Early Bird Stock Of The Day Leafly Holdings, Inc. owns and operates a platform to provide consumers with cannabis information and connects consumers to cannabis brands and licensed retailers. The company offers subscription-based marketplace listings, digital advertising solutions, and software as a service-based tools to cannabis retailers; and information, reviews, menus, and ordering and delivery options to its audience through its website and mobile applications. Leafly Holdings, Inc. was founded in 2010 and is headquartered in Seattle, Washington. | | View Today's Stock Pick |
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