S&P 500 (^GSPC)
| Previous Close | 5,061.82 |
| Open | 5,064.59 |
| Volume |
| Day's Range | 5,039.83 - 5,079.84 |
| 52 Week Range | 4,048.28 - 5,264.85 |
| Avg. Volume | 4,079,012,096 |
Yahoo FinanceStock market today: Stocks wobble as earnings roll in, Powell comments on inflation
Stocks eyed a broader comeback from a steep sell-off as investors digested results from Bank of America and other heavyweights.
- Yahoo Finance Video
Fund managers bullish on 'no landing' in next year: BofA
Hard landing, soft landing, or no landing at all — where exactly do investors stand on the US economy's trajectory while grappling with inflation? Retail sales data released this week surprised to the upside, indicating that consumers are continuing to spend despite elevated inflation. As the economic resilience persists, a Bank of America Global Fund Manager Survey reveals a shift in sentiment. According to the survey, 36% of respondents now believe a "no landing" scenario could materialize in the next 12 months, a scenario where the economy avoids both a hard landing and a soft landing. In contrast, the proportion of those anticipating a hard landing or outright recession sits at just 7%. Yahoo Finance's Josh Schafer breaks down the details, providing insights into the current economic landscape and the implications for markets. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
- Yahoo Finance Video
Market pullback is 'buyable dip': Strategist on Mideast risk
US equities (^GSPC, ^DJI, ^IXIC) are sliding in Monday's trading session as markets are in wait-and-see on potential escalations in Middle Eastern conflicts. Conversations across Wall Street have begun to spring up about what the potential fallout could look like from Iran's strikes on Israel. Freedom Capital Markets Global Strategist Jay Woods and Bullseye American Ingenuity Fund Portfolio Manager Adam Johnson join Market Domination to discuss the rising tensions in the Middle East, the potential fallout, and what investors need to keep in mind moving forward. Johnson states what he tells his clients for times like these: "This is not what drives markets... It almost sounds callous for me to just make that my volley right off the bat. But if you go back and look at the 20 or 25 different events, geopolitical events, that involved hostilities — Gulf War one, Gulf War two, the bombing of the USS Cole, the World Trade Center, on and on — you look at these events and typically what has happened, is that you get a 7% or 8% selloff in the first five days. There's a bottoming, and then ten days later the markets are exactly where they were." Woods speaks on the pullback seen in in the markets: "I think we could drop a little further, but I think it's a buyable dip. We've seen strong earnings. The financials came out with great earnings. JPMorgan (JPM) earnings were nothing to sneeze at. I know Jamie Dimon is [typically] little skittish with his outlook, geopolitical headwinds. Goldman Sachs (GS) knocked it out of the part... We've come so far so fast, I don't see that next catalyst outside of individual pockets of earnings to take the market higher and now with the rising yields again going towards 5%, I don't think we get there..." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino
