Stocks closed mixed Wednesday as disappointing earnings from Google parent Alphabet (GOOGL (opens in new tab), -9.1%) and Dow component Microsoft (MSFT (opens in new tab), -7.7%) weighed on the major market benchmarks and the tech-heavy Nasdaq Composite in particular. The blue-chip Dow Jones Industrial Average finished up 0.01% at 31,840, while the broader S&P… Continue reading Stock Market Today: Stocks Stumble on Ugly Earnings from Tech Bellwethers
Meta shares crater 20% after its earnings and revenue outlook miss targets
Meta shares lost almost 20% premarket Thursday after the Facebook parent missed its Q3 earnings target. Sales fell in the quarter, and Meta gave a weak revenue forecast amid an ad spending slowdown. Its metaverse-focused Reality Labs lost $3.7 billion, taking its total losses this year to $9 billion. Loading Something is loading. Thanks for… Continue reading Meta shares crater 20% after its earnings and revenue outlook miss targets
Zuck refuses to let his metaverse dream die. Wall Street has finally had enough.
Meta shares slumped nearly 20% in after-hours trade to $104.30 on Wednesday. That slashed $67 billion off Meta’s market value, which was already down half a trillion this year, per Reuters. The drop in Meta’s share price this year has shaved off 61% off Mark Zuckerberg’s net worth. Loading Something is loading. Thanks for signing… Continue reading Zuck refuses to let his metaverse dream die. Wall Street has finally had enough.
US stocks close mixed as Nasdaq and S&P 500 snap 3-day win streaks on weak tech earnings
Jason Ma Spencer Platt/Getty US stocks finished mixed as the Nasdaq snapped a three-day win streak amid weak tech earnings. But the Dow Jones Industrial Average extended its rally to a fourth consecutive session. Tech stocks will see more action this week as Meta reports late Wednesday and Apple is due to report after the… Continue reading US stocks close mixed as Nasdaq and S&P 500 snap 3-day win streaks on weak tech earnings
The housing market has a big disconnect that can’t last, and prices for new homes have a long way to fall, analyst says
A disconnect between sales of new homes and mortgage demand is not sustainable, according to Pantheon Macroeconomics. Chief economist Ian Shepherdson said its likely reflects buyers rushing to lock in deals before mortgage rates climb higher. Meanwhile, prices for new homes “have a long way to fall before the market reaches a sustainable equilibrium,” he… Continue reading The housing market has a big disconnect that can’t last, and prices for new homes have a long way to fall, analyst says
Investors should look for the bear market to be over in the first quarter of 2023, Morgan Stanley’s Mike Wilson says
Investors could see the bear market end as soon as early next year, according to Morgan Stanley’s Mike Wilson. Despite the outlook for weaker spending around the holidays, stocks can continue to rise, he said. “We think the market will hold up and that will be another positive catalyst,” Wilson told Bloomberg. Loading Something is… Continue reading Investors should look for the bear market to be over in the first quarter of 2023, Morgan Stanley’s Mike Wilson says
David Rosenberg: The economies best positioned to withstand rising rates
Sharp increase in government debt threatens to derail global economy, meaning investors must be discerning of countries they focus on A group of tourists walk past a temple in Thailand. The country is among countries investors may want to focus on. Photo by Taylor Weidman/Getty Images By David Rosenberg and Krishen Rangasamy Advertisement 2 This… Continue reading David Rosenberg: The economies best positioned to withstand rising rates
Barry Choi: How to decide if you should lock in your mortgage rate or stay with your variable rate
How rising interest rates affect your monthly payments To begin, there are two types of variable-rate mortgages: fixed payment and adjustable rate mortgages. With a fixed payment variable-rate mortgage, your monthly payments stay the same each month. When rates rise and fall, what changes, is the amount of your payment that goes toward interest. As… Continue reading Barry Choi: How to decide if you should lock in your mortgage rate or stay with your variable rate
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