Walmart WMT, Target TGT, and Tencent HK:700 each reported disappointing results to add fuel to the worries about interest-rate hikes and quantitative tightening. But, Melvin Capital aside, there haven’t been signs of capitulation.
Over the last six weeks, equity redemptions have totaled $46 billion, versus $91 billion when the COVID outbreak first became apparent, according to Sean Darby, chief equity strategist at Jefferies. So you could see the argument on why markets may not have plumbed their depths. The S&P 500 SPX , DeMark says, will see one more sell-off, with a close below 3,863, before a “shocking rally” lifts the index between 4,400 and 4,500. The 10-year TMUBMUSD10Y will make one more high before peaking, and crude oil CL.1 will make a top within four trading days — $117.29 per barrel, he forecasts — before turning lower.
The People’s Bank of China lowered the rate that is used for home mortgages in the country to 4.45% from 4.6%. SpaceX paid $250,000 to settle a sexual misconduct claim against its chief executive, Elon Musk, according to a report in Business Insider. Musk, also the chief executive of Tesla TSLA and bidder for Twitter TWTR , told the publication the story was a hit piece, and later tweeted that the accusations are untrue.
The video Tough to find a better video than a programmer teaching his goldfish to pick stocks, and then comparing the results to the picks on Reddit Wall Street Bets.
Read the article and it gave zero reasons other than Tom said so. GTFOH with that BS. Unless he’s going to explain why he thinks that’s the case this is just noise.
No one knows 🎶🎵
A fire sale sell all rally. It’s going to dip to 25k by 2025 then in 15 years be back to 38k when everyone is forced to own electric cars.
Great paywall. Good luck.
Not yet though. In end of 2023.
Rally in stocks perhaps. Crude reaching its high in 4 days. That is not going to happen
Yeah there will probably be an ok rally but date it, don't marry it