Wells Fargo Says FOMC Will Not Cut at First Sign of Economic Weakness

Citi's Montagu Sees Increased Downside Risks as Nasdaq Longs 'Completely Offside'

Chris Montagu, the Global Head of Quantitative Research at Citi, took note of rising bearish positioning across markets, however still falling short of reaching extreme net short levels.

Last week, the S&P 500 and other major U.S. indexes fell sharply in response to higher yields that... More

From TINA to TARA: Goldman Gets More Defensive, Downgrades Equities to Underweight

Christian Mueller-Glissmann, a Senior European Equity Portfolio Strategist at Goldman Sachs, has downgraded equities to Underweight over the next 3 months. This move comes a few days after the firms U.S. strategists downgraded their S&P 500 year-end target to 3600, while the hard landing scenario calls for a drop to 3400.

Goldmans strategist believes... More

S&P 500 ends near two-year low as bear market deepens

By Noel Randewich and Shreyashi Sanyal

(Reuters) - Wall Street sank deeper into a bear market on Tuesday, with the S&P 500 recording its lowest close in almost two-years as Federal Reserve policymakers showed an appetite for more interest rate hikes, even at the risk of throwing the economy into a downturn.

The benchmark S&P 500 is down about 24% from its record high close on Jan. 3. Last week, the Fed signaled that high rates could last through 2023, and the index erased the last of its gains from a summer rally and recorded its lowest close since November 2020.

VIX Futures Premium: 5%

VIX Futures Premium: 5%. Combined volume weighted VIX Futures premium for first and second months.

SPDR S&P 500 ETF Trust (SPY) option IV at 30

SPDR S&P 500 ETF Trust (NYSE: SPY) 30-day option implied volatility is at 30; compared to its 52-week range of 12 to 55. Call put ratio 1 call to 1.4 puts.

Global S&P Futures mixed to higher in premarket

Global S&P Futures mixed to higher in premarket, Nikkei mixed to higher, DAX mixed to higher, WTI Crude oil recently at $78, natural gas up 2%, gold at $1643

Wall Street keeps selling as world assets fail to recover

By Lawrence Delevingne

(Reuters) -U.S. stocks gave up early gains to fall deeper into a bear market on Tuesday, while sterling showed scant movement a day after hitting a record low, as investors remained nervous about a potential global recession.

The pound was little changed at $1.071 after sterling collapsed to $1.0327 on Monday on concern over the funding of recently announced UK tax cuts, which follow huge energy subsidies.

The Bank of England said late on Monday it would not hesitate to change interest rates and was monitoring markets "very closely." BoE Chief Economist Huw... More

Dow Futures Tick Higher After Indices Extend Rout

By Oliver Gray

Investing.com - U.S. stock futures were trading higher during Mondays evening deals, after major benchmark indices extended declines for the 5th consecutive session as investors continue to retreat amid higher interest rates and growing recession concerns.

By 7:20pm ET (11:20pm GMT) Dow... More

U.S. stocks lower at close of trade; Dow Jones Industrial Average down 1.11%

Investing.com U.S. stocks were lower after the close on Monday, as losses in the Oil&Gas, Utilities and Financials sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average lost 1.11% to hit a new 52-week low, while the S&P 500 index declined 1.03%, and the NASDAQ Composite index declined 0.60%.

The best performers of the session on the Dow Jones Industrial Average were Walmart Inc (NYSE: WMT), which rose 0.96% or 1.25 points to trade at 131.31 at the close. Meanwhile, Apple Inc (NASDAQ:... More

JPMorgan's Kolanovic: 'Stocks are Looking Increasingly Cheap'

JP Morgan's equity strategist Marko Kolanovic said in a note to clients on Monday that the Federal Reserve's hawkishness "leaves stocks oversold."

Kolanovic explained that the global inflation trajectory is becoming "even more central for tactical asset allocation." As a result, JPMorgan believes it could keep volatility elevated... More

S&P 500 in U-Turn as Rising Treasury Yields Bite

By Yasin Ebrahim

Investing.com - The S&P 500 pared some gains Monday as tech eased from session highs amid concerns about an increasingly hawkish Federal Reserve at a time when the slowdown in the economy is expected to pick up pace.

The S&P 500 fell 1%, the Dow Jones Industrial Average 1.2%, or 365 points, and the Nasdaq was down 0.42%.

Tech gave up its intraday gains, pressured by an ongoing climb in Treasury yields as Fed members suggest measures to slow growth including rate hikes increase the chance of the economy falling into recession.

Atlanta Federal Reserve... More

S&P 500 Pares Decline, Still Down 0.6%, Nasdaq Flat

S&P 500 Pares Decline, Still Down 0.6%, Nasdaq Flat

Lowered profit forecasts raise concerns on shaky Wall Street

By Caroline Valetkevitch

NEW YORK (Reuters) - Recent profit warnings from bellwether companies like Ford Motor Co, may signal more challenges ahead for corporate America, increasing wariness for investors as the stock market deepens its sell-off.

Investors are increasingly pricing in a U.S. economic downturn next year. The U.S. Federal Reserve raised interest rates by three-quarters of a percentage point for a third straight time on Wednesday in its fight to combat inflation, and some analysts think the aggressive hikes could tip the economy into recession.

With that, concern about earnings has been rising... More

SPDR S&P 500 ETF Trust (SPY) 30-day option implied volatility at 30 as ETF sells off 1%

SPDR S&P 500 ETF Trust (NYSE: SPY) 30-day option implied volatility is at 30; compared to its 52-week range of 12 to 55. Call put ratio 1 call to 1.3 puts.

US to Respond if Russia Annexes Ukraine Territory - WH Press Sec

US to Respond if Russia Annexes Ukraine Territory - WH Press Sec

Logan Says Fed Focused on Reducing Inflation to its 2% Goal

Logan Says Fed Focused on Reducing Inflation to its 2% Goal

Fed's Logan Says Inflation Way Too High - Bloomberg

Fed's Logan Says Inflation Way Too High - Bloomberg

Fed officials stare down markets, say inflation is top focus

By Howard Schneider and Lindsay Dunsmuir

WASHINGTON (Reuters) - U.S. Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping U.S. stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation.

"There are interactions there," Cleveland Fed President Loretta Mester said, noting that financial market volatility can affect investor decisions and the value of the dollar does impact the U.S. economy.

"But in terms of our goals, we are going to set our policy, taking into account the environment we are in, in order to get... More

Stocks near session lows with the 10-year yield up more than 20 bps: Dow -378, S&P 500 -43, Nasdaq -59

Stocks near session lows with the 10-year yield up more than 20 bps: Dow -378, S&P 500 -43, Nasdaq -59

Bostic Says UK Turmoil may Add Stress to US Economy - Bloomberg

Bostic Says UK Turmoil may Add Stress to US Economy - Bloomberg

S&P 500 Continues to Weaken as Yields Climb, Down 0.8%

S&P 500 Continues to Weaken as Yields Climb, Down 0.8%

Nasdaq Erases Gain, Goes Negative, S&P 500 Falls 0.6%

Nasdaq Erases Gain, Goes Negative, S&P 500 Falls 0.6%

S&P 500 Erases Gain, Down 0.25%, Nasdaq Still Up 0.25%

S&P 500 Erases Gain, Down 0.25%, Nasdaq Still Up 0.25%

Dallas Fed Man. Activity (Sep) -17.2 vs -10 Expected

Dallas Fed Man. Activity (Sep) -17.2 vs -10 Expected

Nasdaq Extends Gain, Up 1.4%, S&P 500 Up 0.6%

Nasdaq Extends Gain, Up 1.4%, S&P 500 Up 0.6%

U.S. Stocks Mixed on Global Growth Worries, Rate Fears

By Liz Moyer

Investing.com -- U.S. stocks were mixed as investors continue to worry that aggressive actions by the Federal Reserve will ignite a recession.

At 9:43 ET (13:43 GMT), the Dow Jones Industrial Average fell 126 points, or 0.4%, while the S&P 500 fell 0.1% and the NASDAQ Composite rose 0.5%.

Last week,... More

Collins: Some Of The Global Supply Chain Issues Are Beginning To Fade - Reuters

Collins: Some Of The Global Supply Chain Issues Are Beginning To Fade

Fed's Collins sees inflation fight costing jobs; recession not inevitable - Reuters

Fed's Collins sees inflation fight costing jobs; recession not inevitable - Reuters

Nasdaq Climbs 0.7%, S&P 500 Up 0.1%

Nasdaq Climbs 0.7%, S&P 500 Up 0.1%

Chicago Fed Nat Activity Index (Aug) 0.00% vs 0.23% Expected

Chicago Fed Nat Activity Index (Aug) 0.00% vs 0.23% Expected

Lack of Confirmation Signals That the Bottom is Not In - MKM

JC O'Hara, CMT at MKM Partners, "The S&P 500 has been trading under a declining 200 DMA for over 100 days. This streak of negative trending price action is only seen in major bear markets, think 2000 and 2008. Short-term oversold conditions did little in terms of accurately forecasting the ultimate low. We require... More

S&P 500 Fair Value Appears to be 3630 - Wells Fargo

Wells Fargo's Christopher Harvey: The cracking of investor confidence and the dramatic back-up in interest rates has caused us to reduce our SPX trading range from 3800-4300 to 3350-3950. SPX fair value based upon a 6.15% discount rate appears to be 3630, or 1-2% lower than Friday's close (see calculation below)."

BTIG's Krinsky Sees 'Some Evidence of Capitulation' as S&P 500 Nears 200-WMA Below 3600

Jonathan Krinsky, BTIGs Chief Market Technician, believes that fears about the long-term implications of current macro headwinds on markets are justified. More recently, Krinsky warned the firms clients that the S&P 500 is poised to drop below 3900 after the index completed a head-and-shoulders pattern.

As the S&P... More

Wall Street ends lower, Dow confirms bear market

By Noel Randewich

(Reuters) - Wall Street slid deeper into a bear market on Monday, with the S&P 500 and Dow closing lower as investors fretted that the Federal Reserve's aggressive campaign against inflation could throw the U.S. economy into a sharp downturn.

After two weeks of mostly steady losses on the U.S. stock market, the Dow Jones Industrial Average confirmed it has been in a bear market since early January. The S&P 500 index confirmed in June it was in a bear market, and on Monday it ended the session below its mid-June closing... More

Dow Futures Trade Flat After Indices Finish at 3-Month Lows

By Oliver Gray 

Investing.com - U.S. stock futures remained little changed during Sundays evening deals, after major benchmark averages finished the previous week at 3-month lows as surging interest rates and slowing global growth soured risk sentiment.

By 19:00 ET (23:00 GMT) Dow Jones... More

"Recession not priced in" Says Berenberg

"Recession not priced in" Says Berenberg analyst Jonathan Stubbs.

The analyst comments "European and UK equities are trading below their long-term average forward P/E multiples (although there is uncertainty over forward earnings) and in line with their long-term average trailing dividend yields. This compares to the... More

Citi Reiterates its 4200 S&P 500 Price Target, Expects a Risk-on Rally in Q4

Despite several top strategists calling for the continuation of U.S. stocks selloff into the end of 2022, Citi U.S. Equity Strategist Scott Chronert reaffirmed the banks 4200 year-end target.

Chronert urged clients to watch 3650 level this week in the S&P 500 as the soaring U.S. dollar,... More

Add Equity Exposure As Double Bottom Attempt is Underway - Canaccord Genuity

Canaccord Genuity technical strategist Javed Mirza recommends adding North American equity exposure in the short term and intermediate term.

In the short term, defined as a 1-2 week period, Mirza argues that equity markets are deeply oversold, and a sharp counter-trend bounce is likely to develop this... More

S&P 500 Will See 3000-3400 Later This Year, Morgan Stanley's Wilson Warns Again

With the Fed removing any remaining doubts about its commitment to strongly tackle extremely high inflation, Morgan Stanleys top equity strategist Michael Wilson is increasingly confident in his prediction that U.S. stocks are yet to hit the real bottom.

The strategist sees both stocks and bonds taking another leg lower in response to the growth trajectory in earnings and the economy, as well as the... More

Global S&P Futures mixed in premarket

Global S&P Futures mixed in premarket, Nikkei down 2.5%, DAX mixed, WTI Crude oil recently at $78, natural gas mixed, gold at $1651

Stocks expected to have increasing option volume

Stocks expected to have increasing option volume: SPY QQQ IWM RUT ARKK USO UNG XOM CVX

Global S&P Futures mixed in premarket

Global S&P Futures mixed in premarket, Nikkei down 2.5%, DAX mixed, WTI Crude oil recently at $78, natural gas mixed, gold at $1651

S&P 500, Nasdaq Pares Some Declines, Still Down 2.3%

S&P 500, Nasdaq Pares Some Declines, Still Down 2.3%

Nasdaq Falls 3%, S&P 500 Down 2.9%, Dow Down 2.7%

Nasdaq Falls 3%, S&P 500 Down 2.9%, Dow Down 2.7%

S&P 500 Near Year-to-Date Low, Currently 3,658 vs Low of 3,636.87 Low

S&P 500 Near Year-to-Date Low, Currently 3,658 vs Low of 3,636.87 Low

S&P 500, Nasdaq Near Low, Down 2.5%

S&P 500, Nasdaq Near Low, Down 2.5%

S&P 500 Continues to Search for Bottom, Down 2.4% at 3668

S&P 500 Continues to Search for Bottom, Down 2.4% at 3668

S&P 500, Nasdaq Hit Low, Down 2%

S&P 500, Nasdaq Hit Low, Down 2%

S&P 500 Tests Low, Down 1.85%, Nasdaq Down 1.85%

S&P 500 Tests Low, Down 1.85%, Nasdaq Down 1.85%

Dow drops but narrowly avoids confirming bear market status

(Fixes typo in headline)

By Medha Singh

(Reuters) -The blue-chip Dow Jones Industrial Average tumbled to its lowest level since November 2020 on Friday, but narrowly missed ending more than 20% below its Jan. 4 closing record high.

A Dow close below 29,439.72 would have confirmed a bear market that began from that record, according to a widely used definition. The Dow fell 486.27... More

S&P 500 Off Worst Level, Still Down 1.5%

S&P 500 Off Worst Level, Still Down 1.5%

Hedge funds dashed to exit energy positions last week - data

(This Sept 23 story corrects to remove paragraph 7 to take out quote, no other changes to text)

By Nell Mackenzie

LONDON (Reuters) - Hedge funds around the world fled positions in energy stocks, bonds and futures last week just in time to miss this week's whipsaw moves in oil, according to data from two banks.

Funds dropped their long and short positions in energy stocks, bonds and futures in the week ending Sept. 16 "more than any other time in recent months", and more than any other sector of... More

Think September Was Bad? Watch Out for 'Octoberphobia', Stock Trader's Almanac Warns

While September has already been a brutal month for stocks, October is a month known for famous stock market crashes, warns the Stock Trader's Almanac.

The Almanac highlighted the October stock market crash in 1929, the famed 'Black Monday' on October 19, 1987, the 554-point DJIA drop on October 27, 1997, back-to-back massacres in 1978 and 1979, Friday the 13th in... More

S&P 500 Extends Decline, Down 1.7%, Nasdaq Down 1.8%

S&P 500 Extends Decline, Down 1.7%, Nasdaq Down 1.8%

UPDATE: S&P Global U.S. Services PMI (Sep P) 49.2 vs 45.5 Expected, Composite 49.3vs 46.1

(Updated - September 23, 2022 9:45 AM EDT)

S&P Global U.S. Services PMI (Sep P) 49.2 vs 45.5 Expected, Composite 49.3vs 46.1

S&P Global US Manufacturing PMI (Sep P) 51.8 vs 51 Expected

S&P Global US Manufacturing PMI (Sep P) 51.8 vs 51 Expected

Goldman Sachs Slashes Year-End Target on S&P 500 to 3,600

Goldman Sachs lowered its year-end 2022 target for the S&P 500 to 3,600 on concerns about higher interest rates. The move followed a 75-bps interest rate hike from the US Federal Reserve Open Market Committee on Wednesday and hawkish comments from Fed Chairman Jerome Powell that sent rate hike expectations higher and caused a further slide in major averages.

The bank thinks higher rates means lower valuation into the end of the year, and elevated uncertainty argues for defensive... More

Stocks expected to have increasing option volume: YETI SPY QQQ IWM ARKK

Stocks expected to have increasing option volume: YETI SPY QQQ IWM ARKK

Dow Futures Down 375 Pts; Recession Fears Weigh Ahead of PMI Data

By Peter Nurse

Investing.com -- U.S. stocks are seen opening lower Friday, with investors fretting over the Federal Reserves hawkish interest rate trajectory and the potential for a sharp economic downswing.

At 07:00 ET (11:00 GMT), the Dow Futures contract was down 375 points or 1.2%, S&P 500 Futures traded 45 points or 1.3% lower, and Nasdaq 100 Futures dropped 160 points or 1.4%.

The major equity averages closed lower Thursday, with the blue-chip Dow Jones Industrial Average dropping over 100 points or 0.4%, the broad-based S&P 500 fell 0.8%, and the tech-heavy Nasdaq Composite particularly hard hit, down 1.4%.

... More

Wall St slumps as investors fret on rate hikes and recession

By David French

(Reuters) - Wall Street's main indexes slumped to close well down on Friday, as rattled investors continued repositioning themselves to reflect fears the U.S. Federal Reserve's hawkish rate policy to curb inflation will push the American economy into recession.

The Dow narrowly avoided ending more than 20% lower than its Jan. 4 record all-time closing peak of 36,799.64 points, meaning the blue-chip index did not attain a bear market label, according to a widely used definition.

The S&P 500 and the Nasdaq are already in a bear market.

However, all three indexes suffered heavy weekly... More

Bond Crash of 2022 is a 'Doozy' - BofA

BofA Securities strategist Michael Hartnett is calling the current bond crash the "3rd Great Bond Bear Market", with the first being 1899-1920, and the second being 1946-1981. He said it is a "doozy" thus far. The strategist said 2022 global govt bond losses are on course for "worse since 1949 (Marshall Plan), 1931 (Credit-Anstalt), 1920 (Treaty of Versailles)."

He said the bond crash threatens credit events and... More