Stocks started the week deep in the red as the November jobs report continued to weigh on investor sentiment. This morning’s data, which showed services sector activity and factory output were both stronger than economists expected, provided additional signs that the U.S. economy remains resilient despite the Federal Reserve’s best attempts to slow things down.… Continue reading Stock Market Today: Stocks Spiral After Strong Data Sparks Fed Fears
As Recession Looms, Earnings Forecasts Get Slashed
Third-quarter earnings season turned out to be about as ugly as Wall Street expected going in, but the news gets worse: Rising fears of recession have analysts cutting their forward earnings estimates at an unusually rapid pace. That’s bad, because as forward estimates come down amid recession worries (opens in new tab), the broader market’s… Continue reading As Recession Looms, Earnings Forecasts Get Slashed
Dow tumbles 483 points as economic data strengthens the case for more Fed hawkishness
Max Adams Brendan McDermid/Reuters The Dow fell almost 500 points as traders flinched at new data that made a case for the Fed to stay hawkish. ISM services sector data for November turned higher, and factory orders increased in October. Bond yields jumped. The 10-year Treasury yield climbed to 3.60%. Loading Something is loading. Thanks… Continue reading Dow tumbles 483 points as economic data strengthens the case for more Fed hawkishness
Salesforce drops 6% after Slack CEO Stewart Butterfield becomes 3rd high-profile management departure in less than a week
Salesforce fell 6% on Monday after Insider reported that executive Steward Butterfield is departing the company.Butterfield’s exit from Slack marks the third high-profile executive departure in less than a week.Salesforce co-CEO Bret Taylor announced his resignation last week, which was soon followed up by the exit of Mark Nelson of Tableau. Loading Something is loading.… Continue reading Salesforce drops 6% after Slack CEO Stewart Butterfield becomes 3rd high-profile management departure in less than a week
Here are the kinds of stocks set to rally as the stock market changes its character amid inflation ‘falling like a rock’, according to Fundstrat’s Tom Lee
The character of the stock market is changing as inflation starts to fall “like a rock,” according to Fundstrat’s Tom Lee.A drop in inflation would offer the market numerous rallies to keep momentum into year-ed, Lee said.These are the types of stocks that see short-term upside if inflation continues to fall, according to Lee. Loading… Continue reading Here are the kinds of stocks set to rally as the stock market changes its character amid inflation ‘falling like a rock’, according to Fundstrat’s Tom Lee
Stocks are trading at a fair valuation, and it’s not time to be bearish as the market has deflated and the Fed is on track for a soft landing, former PIMCO chief economist says
Stocks are fairly valued, and it’s no time to be a “big bear” about the stock market, according to Paul McCulley. The former PIMCO chief economist pointed to overvalued areas of the market cooling off, as well as cooling economic data. That makes a soft landing or a growth recession likely, McCulley said, contrary to… Continue reading Stocks are trading at a fair valuation, and it’s not time to be bearish as the market has deflated and the Fed is on track for a soft landing, former PIMCO chief economist says
Tesla stock slides on reports that the electric-vehicle maker’s Shanghai factory may cut back production
Tesla could trim production by 20% for its Shanghai factory, Bloomberg reported on Monday. Shares for the electric vehicle-maker slipped as much as 6% intraday. Tesla China told Reuters that media reports on Shanghai production cuts were “untrue.” Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while… Continue reading Tesla stock slides on reports that the electric-vehicle maker’s Shanghai factory may cut back production
Economist Roubini Sees ‘Mother of All Stagflationary Debt Crises’
Debt around the world is growing as governments, businesses and individuals have gone on a spending and borrowing spree during the covid pandemic and as it has eased. Nouriel Roubini, chief economist of Atlas Capital Team, sees that debt causing big-time trouble. He has garnered the moniker “Dr. Doom” and predicted the 2007-09 financial crisis. “The world… Continue reading Economist Roubini Sees ‘Mother of All Stagflationary Debt Crises’
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