Stock Market Today: S&P 500 closes lower as rebound fades

Investing.com -- The S&P 500 reversed early-day gains to close Wednesday, as a slump in Super Micro Computer pressured chips stocks, weighing on the broader market.) stock fell 20% after the data center operator's June quarter earnings missed estimates, raising more concerns over just how much demand the artificial intelligence industry was generating.

The resilience of S&P 500 earnings remains intact despite growing recession fears and recent negative price action, Citi strategists said in a Wednesday note. Overall, the strategists maintain confidence in their $250 EPS forecast for the S&P 500 in 2024, which is slightly higher than the current bottom-up consensus of around $243.

"The bigger issue will be with 2025 earnings should more pronounced macro slowing unfold during the remainder of this year. But, again, we expect more resilience versus history."That said, sentiment towards risk-driven assets remained frail amid persistent concerns over slowing growth and middling earnings.

“So while market stress is noticeably higher than a week ago, our FSI suggests that there have been no serious market disruptions to date that would force policymakers to intervene."Scan QR code to install app

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Stock Market Today: S&P500 closes lower as Fed kicks off meetingStock Market Today: S&P500 closes lower as Fed kicks off meeting
Herkunft: Investingcom - 🏆 450. / 53 Weiterlesen »

Stock Market Today: S&P 500 closes lower as tech rebound runs out of steamStock Market Today: S&P 500 closes lower as tech rebound runs out of steam
Herkunft: Investingcom - 🏆 450. / 53 Weiterlesen »

Stock Market Today: S&P500 closes lower as tech continues to lose steamStock Market Today: S&P500 closes lower as tech continues to lose steam
Herkunft: Investingcom - 🏆 450. / 53 Weiterlesen »

Stock Market Today: S&P500 ends higher as dip buyers return after routStock Market Today: S&P500 ends higher as dip buyers return after rout
Herkunft: Investingcom - 🏆 450. / 53 Weiterlesen »

Stock Market Today: S&P500 slumps as weaker economic data rattles stocksStock Market Today: S&P500 slumps as weaker economic data rattles stocks
Herkunft: Investingcom - 🏆 450. / 53 Weiterlesen »

Stock Market Today: S&P 500 rallies as Fed signals September cut in playStock Market Today: S&P 500 rallies as Fed signals September cut in play
Herkunft: Investingcom - 🏆 450. / 53 Weiterlesen »