Global S&P Futures down 2.1% premarket
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- Oil falls 4% after US-Iran talks signal easing supply risks
- Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
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- Needham Starts NeoVolta (NEOV) at Buy
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- Li Auto Inc. (LI) Breaks Ground on Chips R&D and Production Base
- China makes small dent in deflation battle as supply-demand imbalance persists
S&P 500’s pullback deepens as hard landing fears spike: RBC
August 5, 2024 6:23 AM EDTThe S&P 500 resumed its pullback late last week, driven by escalating fears of a hard landing following disappointing economic data, RBC Capital said in a note Monday.
Initially, the market showed signs of stabilization, bolstered by expectations of a rate cut in September following Wednesday's Federal Reserve meeting.
However, weaker-than-expected ISM and jobs reports reignited concerns about economic downturns and policy missteps. By Friday's close, the S&P 500 had declined 5.7% from its July high, a pullback slightly more severe than... More
