Need to Know: An S&P 'mini bubble' could take index 8% higher from current level
On the heels of some dazzling Independence Day bashes, traders are back at their posts ready to digest big data that’s coming up.— DJ Ross One July 5, 2019 There’s a lot riding on June payroll numbers, where a bigger-than-expected bounce from May’s dismal 75,000 rise could muddy the waters for a July Fed interest rate cut, even if investors and President Trump are clamoring for it.
A ‘melt-up’ refers to a sharp move higher for assets that comes as investors, worried about missing out on big gains, pile in. The downside to all that rushing in is often though, is that a big pullback often follows, hence the ‘bubble’ reference. The market Dow YMU19, -0.19% , S&P ESU19, -0.21% and Nasdaq NQU19, -0.23% futures are down as the data nears.
The buzz Smartphone and chip maker Samsung Electronics 005930, -0.76% warned of a 56% second-quarter profit drop, as it cites weak chip demand and fallout from U.S.-China trade tensions. On that note, the U.S. says it had plenty of national-security reasons to enact a ban on Huawei - this is the first response to a lawsuit filed by the Chinese telecom group.
The chart This question keeps coming up. Exactly who is buying stocks right now? Our chart of the day from Bank of America Merrill Lynch shows how money has been flowing out of global equities even as U.S. indexes hit record highs. While you’d think they’d be moving in tandem, the bank shows flows and equity returns the most disconnected since 2016.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Scarlett Moffatt celebrates Pride in thigh-skimming rainbow mini dressThe former Gogglebox star has jetted out to New York City with her pals to celebrate
Read more »
California Bill Moves To Ban Mini Hotel Toiletry BottlesCalifornia legislators passed a bill to ban small shampoo, conditioner and body wash bottles in hotels and resorts. They would be replaced with dispensers or bottles larger than 12 ounces. (hereandnow)
Read more »
Front Row at the PFW Couture Giorgio Armani Prive Show Has Me Positively SwooningWe're obsessed with SaraSampaio's red hat. 😍
Read more »
This golden retriever adorably cares for his 'mini-me' stuffed animal best friendBarley, the golden retriever, has become Instagram famous thanks to videos and photos of him caring for a 'mini-me' stuffed animal that's also his best friend.
Read more »
'Mini AOC' Twitter account pulled after family claims to receive death threats over photos mocking Alexandria Ocasio-Cortez's visit to a migrant detention campThe eight-year-old's stepfather, Salvatore Schachter, said the messages sent to his family became 'increasingly personal, dark and dangerous.'
Read more »