All articles tagged with #stock market correction
Goldman Sachs and Morgan Stanley CEOs predict a potential 10-20% correction in stock markets within the next 12-24 months, sparking a global selloff and raising concerns about systemic risks in private credit markets, while investors consider adjusting their portfolios amid uncertain monetary policy.
Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, were lower ahead of Tuesday's open as Wall Street prepares for the Federal Reserve interest rate decision. Tesla stock plunged below the $200 price level, while Apple earnings and other earnings reports are anticipated this week. The stock market rallied on Monday, with the Dow Jones Industrial Average surging over 500 points. Oil prices tumbled, and the 10-year U.S. Treasury yield remained near its long-term highs. Investors are advised to remain cautious during the ongoing stock market correction.
The stock market correction continued last week, with major indexes falling to multimonth lows. However, there are four big-cap tech stocks worth watching as they are close to buy points: Amazon, Meta Platforms, Microsoft, and ServiceNow. These stocks have already released their earnings and have shown multiple quarters of accelerating growth. Additionally, investors should be cautious and hold cash, as the market needs several days of strong performance to signal the end of the downturn. The Federal Reserve will meet this week, and the October jobs report will be released on Friday.
The Dow Jones Industrial Average dropped 175 points ahead of the release of key inflation data, including the personal consumption expenditures (PCE) price index. Amazon's stock surged on strong earnings results. The PCE price index increased slightly cooler than expected, with an annual gain that matched estimates. The University of Michigan's consumer sentiment survey showed higher inflation expectations. Chipotle, Deckers Outdoor, Dexcom, and Intel were also key movers. The stock market experienced a correction, with the Dow Jones, S&P 500, and Nasdaq composite all declining. Tesla, Apple, and Microsoft stocks were also affected.
The stock market correction intensified as the Nasdaq composite fell below its 200-day moving average, with tech giants like Meta Platforms, Google, Apple, Nvidia, and Amazon leading the decline. Amazon reported better-than-expected earnings and sales, but its Q4 revenue guidance was slightly below expectations. The market bounce was short-lived, and investors should be patient and wait for clear signs of market strength before making any moves. Many leading stocks are heavily damaged and may take time to repair. Investors should focus on stocks holding key levels and with strong relative strength lines.
The Dow Jones Industrial Average dropped 150 points after the U.S. government averted a shutdown by passing legislation to extend funding through mid-November. Tesla stock also fell after the company reported weaker-than-expected third-quarter deliveries. The stock market is currently in a correction, and investors are advised to hold market exposure in the 0%-20% range. The September job report, expected to show moderate strength, is a key economic report to watch this week.
Dow Jones futures, along with S&P 500 futures and Nasdaq futures, rose slightly after the stock market correction hit new lows on Tuesday. The Federal Trade Commission and 17 states filed an antitrust lawsuit against Amazon.com, causing Amazon stock to fall. Other tech giants like Alphabet, Microsoft, and Apple also saw notable declines. Meanwhile, Costco Wholesale reported earnings that beat expectations, and Meta Platforms is set to unveil virtual reality hardware and AI tools at its Meta Connect conference.
The Dow Jones Industrial Average rose slightly on Tuesday as key economic data, including a consumer confidence reading and two home price indexes, were released. Occidental Petroleum rallied on an analyst upgrade, while Alibaba surged on a massive restructuring plan. The ongoing stock market correction has left the market in an ambiguous spot, making tentative progress only to bump up against sellers.
Dow Jones futures rose slightly ahead of the Federal Reserve's rate hike decision and Fed Chair Jerome Powell's subsequent comments. The Federal Reserve may be reluctant to raise its target interest rate on Wednesday as rescue attempts for several U.S. regional and community banks remain less than certain. Meanwhile, GameStop rocketed 50% on a surprise profit, and Nike and Salesforce are among the top stocks to watch in the ongoing stock market correction. Tesla stock gained 1.3% Wednesday morning, as it looked to extend Tuesday's rise.
JPMorgan Chase and other big banks are discussing ways to stabilize troubled First Republic Bank, which saw its stock crash 47% on Monday. The Federal Reserve's two-day meeting kicks off on Tuesday, and the central bank may have a hard time hiking its key interest rate on Wednesday after the weekend passed with rescue attempts for several U.S. regional and community banks still faltering. The ongoing stock market correction has investors advised to mostly be on the sidelines until a follow-through day triggers a new uptrend. Top stocks to watch include Nike, Salesforce, Advanced Micro Devices, Meta Platforms, and Palo Alto Networks.
UBS has agreed to buy Credit Suisse for $3.24 billion, causing UBS shares to rise 5% and Credit Suisse American depositary receipts to crash 54%. Meanwhile, First Republic Bank plunged 20% after a credit rating downgrade. The Federal Reserve's two-day meeting kicks off Tuesday, with views on the probable rate strategy vacillating. The stock market ended the week on the ropes amid a painful bear attack on quadruple-witching day.