The worst four-month start of the year for the S&P 500 SPX, -0.57% since 1939 was bad enough, but this week’s volatility in the stock market was shocking: a 932-point increase for the Dow Jones Industrial Average DJIA, -0.30% on May 4 followed by a 1,063-point decline the next day.
If you are looking to bail, Hayes Martin of Market Extremes expects a bounceback rally that might provide that opportunity to sell. A reality check following the bull market “Unicorn” startup companies — those valued at $1 billion or more — were hot items during the long bull market. One example was Carvana CVNA, -4.99%, which disrupted the used-car market with streamlined service. Times have changed, as you can see on the chart, above. Here’s how Carvana’s desperate situation applies to other unicorns.
It was certainly a good quarter — better than analysts had expected. But in this market, all eyes are on companies’ forecasts during earnings season. Zillow’s shares plunged 15% in pre-market trading on May 6 after CEO Rich Barton said the outlook for the U.S. housing market “may be choppy in the near term.”
A threat to Apple Apple AAPL, +0.47% has an incredible loyal following, and not only because iPhones are so reliable. The company says it protects consumers with tight control of the software running on its devices. But politicians and regulators are taking aim at some of the restrictions, as Jon Swartz reports.
It may fall further next week, as there is still the possibility of further rate hikes.
Oh just mellow out
🤦♂️
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