2 hours ago
Nasdaq Composite records longest weekly losing streak since December 2022
It’s only Wednesday, but the Nasdaq Composite Index is already on pace to decline 3% this week, marking its fourth decline in a week.
If the tech stock ratio ends the week in the red, the Nasdaq’s weekly losing streak will be the longest since December 2022.
As it stands, the 3% drop already puts the Nasdaq’s weekly performance on its worst trajectory since January.
The S&P 500 and Nasdaq fell for the fourth straight session on Wednesday, driven by a sell-off in tech stocks, including a nearly 4% decline in Nvidia. In April, the two indexes further fell into negative territory.
–Darla Mercado, Chris Hayes
2 hours ago
Barclays says strong earnings season can protect share prices from rising interest rates
Barclays said strong first-quarter profits could protect the market from high interest rates.
“We think earnings can still support stock prices against rising interest rates,” analyst Emmanuel Cau said on Wednesday. “Significantly lowered Q1 forecasts provide upside room and the pullback has reduced bubbles. Buying on the bullshit will work as long as improving activity data puts FY24 earnings recovery on track.” I might.”
But “there is little margin for error in reassessment,” Kaw added.
— Brian Evans
3 hours ago
Stock futures little changed on Wednesday
Stock futures were little changed Wednesday after the S&P 500 index suffered its fourth straight loss.
Futures tracking the broader market index rose 0.02%, while Nasdaq 100 futures rose 0.1%. Dow Jones Industrial Average futures fell 5 points (0.01%).
— Brian Evans
