Dismal China data, a dovish about-face by the European Central Bank and a lackluster U.S. jobs report all left stock-market investors feeling the weight of the world on their shoulders this past week, sending Wall Street equities on a five-day skid on rising fears that a global slowdown could derail a bull market that celebrates its 10th anniversary on Saturday.
“In my mind, this is more of an issue that there’s nothing to fear but fear itself,” said Putri Pascualy, managing director at Paamco, an Irvine, Calif.-based institutional investment firm, in a phone interview. The global economy is still growing, as is the U.S. Investors in risky assets, however, may have gotten ahead of themselves as the calendar flipped over to 2019, she said.
Stocks ended off session lows on Friday, but slumped early after data showed a sharp slowdown in U.S. job creation in February. The jobs data wasn’t all bad, however, with the unemployment rate falling and wage growth showing a pickup. Pascualy and other investors, however, argue that rising wage growth could prove a headwind for stocks if firms are unable to pass on rising labor costs to consumers.Earlier, Chinese data showing a 20.
Pascualy said the question for the market is less about whether the U.S. is facing recession and more about “how are investors repricing risk…and how much investors want to get paid per unit of risk is more the story than any fundamental change.” Even with global central banks taking a more dovish turn, “we still think that global growth will continue to weaken, putting pressure on corporate earnings and triggering a flight to safety,” said de Barochez at Capital Economics.
Today is also the 19th anniversary of the Dot Com Bubble popping. RIP
Yup, just look at where interest rates are.
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:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The 10th anniversary of the climactic March 2009 market bottom arrives this weekThe index has delivered a 10-year annualized total return of 17.8 percent since its financial crisis bottom in March, matching past 10-year bull markets.
Source: CNBC - 🏆 12. / 72 Read more »
How Turning Down A Nearly $1 Billion Acquisition Deal Helped Foursquare See Its 10th AnniversaryTen years after its debut, Foursquare has faded in the memory of its many former fans, yet it still receives billions of monthly visitors. Foursquare shares the secret behind Foursquare's successful pivot from social media to enterprise tech, quietly maintaining its relevancy one decade on. Probably should have taken the money. And probably, in this case = definitely.
Source: Forbes - 🏆 394. / 53 Read more »
‘Another break point may be coming’: On the 10th anniversary of the last stock market bottom, a $160 billion investment chief explains why traders should be getting very worriedThe bull market turns 10 years old this weekend, but a Wall Street CIO says slipping consumer confidence and high stock valuations are a danger sign. Market has a record of crashing every 8 to 10 years. Nothing to see here, move along. What else would we expect with trump(R-Kremlin) a crazy moron running what was a democracy?
Source: BusinessInsider - 🏆 729. / 51 Read more »
This bull market has hit the 10-year mark. Will it keep raging or will bears spoil the party?Investors on Saturday will celebrate the 10-year anniversary of the longest bull market on Wall Street since World War II. The rally has generated a gain of nearly $18 trillion in the index’s market value, according to S&P Dow Jones Indices. But I thought Donald Trump made the Stockmarket? What a coincidence. That was 1 year after the financial institution bailouts. Congratulations to the tiny number of Americans who were born into inherited wealth, who continue to bulldoze working class lives with no repercussions! U-S-A! U-S-A! Reagan promised it would trickle down almost 40 years ago! Any day now!
Source: latimes - 🏆 11. / 82 Read more »
Contrarian investor Steven Jon Kaplan calls the bull-market anniversary a phonyDon’t go celebrating the 10th anniversary of the start of the bull market, says Steven Jon Kaplan in our call of the day.
Source: MarketWatch - 🏆 3. / 97 Read more »
Contrarian investor Steven Jon Kaplan calls the bull-market anniversary a phonyDon’t go celebrating the 10th anniversary of the start of the bull market, says Steven Jon Kaplan in our call of the day.
Source: MarketWatch - 🏆 3. / 97 Read more »
The 10th anniversary of the climactic March 2009 market bottom arrives this weekThe index has delivered a 10-year annualized total return of 17.8 percent since its financial crisis bottom in March, matching past 10-year bull markets.
Source: CNBC - 🏆 12. / 72 Read more »