"This has been an especially worrying pullback, combining all of the things you really don't want to see," said Brad McMillan, chief investment officer for Commonwealth Financial Network, in a research note."It has been the largest pullback since the start of the pandemic."
He added,"But the depth, the speed, and the duration all combine to suggest that as long as the fundamentals are sound , we are likely getting close to the bottom." The market is pricing in the Fed's likelihood of aggressively raising interest rates later this year, as well as a cooling economy, said analyst Adam Crisafulli of Vital Knowledge Media, in a research note. The labor market is also"coming off a boil" as some companies scale back on hiring plans. Yet other economic measures remain strong, he added.
Consumer spending"is holding in well," said Crisafulli, who partly views the market's current downward trajectory as a natural response to the Fed's recent actions. Meanwhile, the health care sector enjoyed gains on Friday. Pfizer rose 3.6%. The tech sector has been particularly choppy and prompted many of the big swings in the market throughout the week. Apple was down 0.3% in after-hours trading. China's surprise rate cut
Newborn dai to sweep covid social justice quests
Most of the economy is about employment income, and employment is up.
I miss the times of peace and prosperity under President Trump!
Some good news. That every illegal the Biden Admin is allowing to cross our boarder right now, except for the terror cells, drug cartel and gang members; nearly every single one of them is pro-life and Christian.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks tumble on recession fears, with the S&P 500 nearing a bear marketHigh inflation, rising interest rates and disappointing corporate earnings are souring Wall Street's outlook. This is what you get for keeping Quantitative Easing for way too long. Interest rates should have been boosted *long* ago. If we had kept QE any longer, we would've met the same fate that Japan and Turkey are now facing--a currency crash. 💴🔥 So we just sent $40 billion to Ukraine.. Hmm BIDEN 2024 !
Source: CBSLA - 🏆 552. / 51 Read more »
Deutsche Bank cuts baseline market forecast and sees S&P 500 at 3,000 if there's a recessionStocks could be in for much more pain ahead if a recession is imminent, according to Deutsche Bank's Binky Chadha.
Source: CNBC - 🏆 12. / 72 Read more »
Investors Have ‘Nowhere To Hide’ As S&P 500 Nears Bear Market TerritoryThe stock market moved lower on Thursday—pushing the S&P 500 to the brink of bear market territory—as investors continued to offload shares following warnings from major retailers about inflationary pressures.
Source: Forbes - 🏆 394. / 53 Read more »
S&P 500 slips below bear-market thresholdThe S&P 500 on Friday traded below 3,837.25, the level that marks a 20% pullback from the large-cap U.S. benchmark's Jan. 3 record close. A finish below that...
Source: MarketWatch - 🏆 3. / 97 Read more »
S&P 500 falls into bear market, joins NasdaqThe broadest measure of the U.S. stock market entered a bear market on Friday. The bull will wake up soon. Funny that sanctions on the Russian Bear caused this bear market. Big ole Bear too... Covid panic was anomalous.... this is the 'big one' pullback that was long overdue after the decades long, Fed-fuled bubble post-2008. This one is just getting started... get used to the idea of 1850 on the S&P 500.
Source: FoxBusiness - 🏆 458. / 53 Read more »
S&P 500 drops into bear market territory as recession fears mountThe S&P 500 fell into bear market territory Friday, slipping more than 20% from its record high and potentially ending the bull run that began in March 2020 you won't see the S&P 500 above 4000 again for a good few years. Big crash coming. Seems like I heard this would happen.
Source: CNN - 🏆 4. / 95 Read more »