After a strong surge in June and July, the S&P 500 index has experienced a significant decline in August, with tech stocks being hit particularly hard, as fears of rising interest rates and a slowdown in China weigh on the market.
The S&P 500 has fallen nearly 5% in August, and opinions on whether stocks will rebound are divided among Wall Street firms and market commentators, with some, like Goldman Sachs and Fundstrat, remaining optimistic while others, including Michael Burry and David Rosenberg, are bearish.
The Dow and S&P 500 ended slightly lower due to concerns about the Federal Reserve keeping interest rates higher for longer, while the Nasdaq finished barely in the green; the financial sector fell 0.9%, dragged down by an S&P downgrade of credit ratings of regional U.S. lenders, and investors are awaiting clarity on the rate outlook from Fed Chair Jerome Powell.
Bitcoin and Ethereum prices dipped below key levels, while the global crypto market cap saw a slight decline; Astar was the biggest gainer and Maker was the biggest loser over the past 24 hours.
The stock market experienced a sharp decline as early gains turned into a selloff, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all falling; concerns over rising bond yields and inflation contributed to the sell-off.
Investors were disappointed as early gains in stock markets reversed, with the Nasdaq Composite leading the downward trend, and stocks like Marvell Technology and Nordstrom losing ground due to their respective quarterly financial reports.
S&P 500 and Nasdaq futures slipped as investors awaited data on inflation and non-farm payrolls to determine the Federal Reserve's interest rate path, while HP and Rite Aid saw declines due to trimming profit outlook and a downgrade, respectively.
The S&P 500 ended lower and the Nasdaq higher as U.S. inflation data met expectations, signaling a potential pause in monetary tightening by the Federal Reserve, while Salesforce shares climbed following a positive revenue forecast.
Stock market indexes experienced losses as small caps led the selling, while oil stocks rose due to Saudi Arabia and Russia extending their oil production cuts, and other notable stock movements included PulteGroup and Airbnb surging, Blackstone being added to the S&P 500, Brady stock surging after better-than-expected earnings, and Sprinklr, Tesla, America's Car-Mart, NextGen Healthcare, Oracle, Li Auto, and Trip.com experiencing various ups and downs.
U.S. stocks slipped as worrying data out of China and a spike in oil prices following the extension of Saudi Arabian production cuts weighed on the market. The Dow Jones Industrial Average fell 0.6%, while the S&P 500 lost 0.4% and the Nasdaq dipped 0.1%.
Dow Jones futures, S&P 500 futures, and Nasdaq futures all fell slightly, while Roku and GitLab were early winners and Meta stock could potentially signal a buy at the open.
Dow Jones futures, S&P 500 futures, and Nasdaq futures all fell slightly, while Roku and GitLab were early winners and Meta stock could potentially signal a buy at the open.
Stocks fell in morning trading on Wall Street, with the S&P 500 down 0.7%, as big technology stocks and healthcare stocks experienced losses, while several companies made significant moves after reporting earnings and other updates.
Stock indexes decline as concerns about future rate hikes and sluggish market performance in September weigh on investor sentiment, with the tech-heavy Nasdaq Composite falling for the third consecutive day and the Dow Jones Industrial Average and S&P 500 on a two-day losing streak.
Summary: The Nasdaq and S&P 500 closed slightly higher on Friday after a week of losses, while the Dow Jones Industrial Average rose 0.2%; however, all three major indexes ended the week lower due to rising oil prices, stronger-than-expected labor market data, and China's iPhone ban.
Oracle shares dropped by about 5% in extended trading after the company reported slightly lower-than-expected fiscal first-quarter revenue, although earnings per share were better than anticipated.
Oracle shares dipped 13.5% after disappointing earnings and revenue guidance, while WestRock rose 2.8% following news of a merger with Smurfit Kappa, and Apple shares fell 1.8% ahead of the launch event for its new iPhone.
Oracle's stock experienced a significant drop, resulting in Oracle chairman Larry Ellison losing billions of dollars and becoming the largest loser among billionaires, after the company's earnings report fell short of investor expectations.
Despite its high valuation, a strategist predicts that the S&P 500 can still continue to rise.
The S&P 500 and Nasdaq ended the week slightly lower due to a decline on Friday caused by higher bond yields and oil prices, while the Dow Jones Industrial Average saw a small weekly gain.
Wall Street finished the week with a decline in stocks, as the S&P 500 posted its second consecutive losing week, with technology and retail sectors contributing to the slide, while investors await the upcoming Federal Reserve interest rate policy meeting.
Summary: Dow Jones futures, S&P 500 futures, and Nasdaq futures all rose overnight, while the stock market correction continued with heavy losses as the 10-year Treasury yields surged, leading to the S&P 500 undercutting its August lows and the Nasdaq and Dow Jones coming close to doing the same.
Stock futures decline as Wall Street prepares for the last week of September amidst a drop in the S&P 500 and Nasdaq Composite.
Stocks took a hit last week, with the S&P 500 and Nasdaq decreasing, while the dollar shows potential for a major breakout and rising interest rates pose more trouble for stocks.
U.S. stocks were mixed with the Dow Jones slipping 0.2%, the S&P 500 unchanged, and the Nasdaq Composite adding 0.22%, while oil prices surged to their highest in over a year and shares of China Evergrande Group were suspended after reporting significant losses, all raising concerns and making it difficult for stocks to gain confidence to climb.
Wall Street turned lower as concerns over interest rates, rising oil prices, and a possible government shutdown weighed on the market, with the Dow Jones and S&P 500 both experiencing losses.
Wall Street stocks slipped as investors reviewed data on the US economy, with the S&P 500 and the Dow Jones Industrial Average trading slightly lower, and the Nasdaq Composite dropping further; the 10-year Treasury yield continued to rise, and oil prices turned lower after hitting new highs.
Stocks ended the day higher as the surge in oil, the dollar, and Treasury yields slowed down, with the Nasdaq rising 0.8%, the S&P 500 gaining 0.6%, and the Dow Jones Industrial Average rising 0.4%.
The S&P 500 fell as investors reacted to an inflation report and adjusted their portfolios on the last day of a weak third quarter for stocks, with the benchmark index also on track to post its biggest monthly percentage drop of the year.
The S&P 500 has been hit hard by the September Effect, but investors should remain optimistic as history suggests the market will rebound, and there are compelling buying opportunities in certain growth stocks like Block and SolarEdge with upside potential of 93% and 127% respectively.
The S&P 500, Dow Jones, and Nasdaq experienced their worst quarterly losses since last year's third quarter as investors shifted their focus to concerning macroeconomic conditions and the potential impact on growth-friendly investments.
Stocks mostly fell in the U.S. on Friday, with the S&P 500 and Dow Jones Industrial Average declining, while the Nasdaq Composite inched up; all three indexes ended the month of September in the red, with the S&P and Nasdaq experiencing their worst monthly performance since December, and the Dow having its worst showing since February.
The Federal Reserve's aggressive interest rate hikes have resulted in a decline in the profitability of S&P 500 companies, with the return on equity ratio falling this year, and the trend could worsen if interest rates remain high.
The stock market's decline has pushed the Dow into negative territory for the year, and the focus is now on the S&P 500's approaching level of support at 4,200.
Oil prices fell to their lowest level since September 11th as global financial markets experienced a selloff, despite reassurances from Saudi Arabia and Russia that they will continue output cuts until the end of the year.
Stock futures decline after the S&P 500's strong performance, with Rivian, Tesla, Clorox, BlackBerry, and Exxon among the top movers.
Wall Street's major averages ended slightly lower as investors awaited the non-farm payrolls report and grappled with mixed economic data, while the tech-heavy Nasdaq Composite and benchmark S&P 500 both pared back losses, and defensive sectors outperformed.
The Israel-Hamas conflict in West Asia led to a decline in the stock market, with financials and RIL leading the slide, while IT, FMCG, and pharma partially cushioned the fall; analysts predict that geopolitical tensions and rising oil prices could disrupt the optimistic outlook on quarterly earnings.
The Nasdaq declined for the fourth consecutive day as tech stocks continued to slide amid concerns over an economic slowdown in China and potential rate hikes by the Federal Reserve, while healthcare stocks boosted the Dow; Treasury yields fell, and oil prices dipped after a nine-day winning streak.
Rivian Automotive's stock fell short of the S&P 500, while the company is predicted to post an EPS growth and revenue increase in its upcoming earnings report.
:max_bytes(150000):strip_icc()/GettyImages-490264377-21c80943eb7c48869cab3e480b95ae83.jpg)