Risks for major correction 'rarely been higher' says Morgan Stanley's Wilson

Dow Jones, Nasdaq, S&P 500 weekly preview: Tech bull running out of steam?

June 26, 2023 7:53 AM EDT

For the first time in 6 weeks, the S&P 500 (SPX) closed lower on a weekly basis. The benchmark U.S. stock market index fell 1.4% last week after previously hitting the highest levels since April 2022.

The bulls tested and failed at 4400, a zone that hosts an important resistance in the context of an ascending trend line that connects the two prior peaks (Nov 2022 and Jan 2023).

Dow Jones Industrial Average (DJI) fell almost 1.7% as the index approaches the 100 weekly moving average. Similarly, Nasdaq Composite Index (IXIC) closed nearly 1.5% lower, marking the first weekly decline since April.

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ROTH MKM sees a pullback to 4300/4200 in S&P 500

June 26, 2023 6:37 AM EDT

Roth MKM analyst JC O'Hara: "The equity markets experienced a pause after rising for five consecutive weeks. With the S&P 500 stretched from trend and overbought, we believe the near-term tactical call is for a pullback to 4300/4200. The Dow Jones Industrials Average has reached chart resistance. The Nasdaq 100 is... More

Wall Street slips as investors eye Russia, Fed hikes, quarter-end

June 26, 2023 6:12 AM EDT

By Sinéad Carew, Sruthi Shankar and Johann M Cherian

(Reuters) - U.S. stocks closed lower on Monday, as investors were wary of betting on riskier assets before seeing the outcome of Russia's aborted weekend mutiny.

The rebellion by Russian mercenaries raised questions about President Vladimir Putin's future. While Putin on Monday thanked mercenary fighters and commanders who had stood down to avoid bloodshed, the U.S. State Department said the situation in Russia remained dynamic.

Growth stocks were among the biggest weights on the main indexes, with Meta Platforms Inc, Alphabet Inc and Tesla Inc all falling... More

Global S&P Futures mixed in premarket

June 26, 2023 3:39 AM EDT

Global S&P Futures mixed in premarket, Nikkei mixed, DAX mixed, WTI Crude oil recently at $69.50, natural gas up 1%, gold at $1936

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Goldman Sachs on stocks positioning, sentiment

June 26, 2023 2:57 AM EDT

Goldman Sachs strategist Cecilia Mariotti the indicators we track suggest the bullish rotation has mostly been driven by sentiment and fast money, which makes it more vulnerable to disappointments. That said, should macro data be supportive, given light positioning via fund flows, we see room for investors to rotate... More

Stocks are falling after hawkish comments on rates from Fed's Powell

June 23, 2023 2:58 PM EDT

Investing.com -- U.S. stocks were falling on concerns about interest rates after Federal Reserve Chair Jerome Powells hawkish testimony to Congress this week.

At 14:06 ET (18:06 GMT), the Dow Jones Industrial Average was down 154 points or 0.5%, while the S&P 500 was down 0.5% and the NASDAQ Composite was down 0.6%.

Powell, appearing in the House and Senate for his semi-annual testimony about the economy, said more rate increases are likely... More

Forecasts show U.S. earnings decline in second quarter

June 23, 2023 2:18 PM EDT

By Caroline Valetkevitch

NEW YORK (Reuters) - Forecasts for second-quarter U.S. earnings still look gloomy after a much-better-than-feared first quarter season as the likelihood of further interest rate hikes this year creates more potential risks for companies.

Analysts expect earnings for S&P 500 companies to fall 5.6% in the second quarter from a year ago, according to IBES data from Refinitiv.

Year-over-year earnings rose 0.1% in the first quarter, based on data Friday, much better than the forecast for a 5.1% drop at the start of the reporting season. The improvement followed upbeat results from a host of big... More

Kansas City Fed Services Activity 14 vs 3 Prior

June 23, 2023 10:53 AM EDT

Kansas City Fed Services Activity 14 vs 3 Prior

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