'The weak parts of the market remain weak and unable to rally, while the strong parts of the market are extended and vulnerable,' BTIG's Jonathan Krinsky said.
The S&P 500 and Dow lost 0.3% and 1.1%, respectively, last week. The Nasdaq Composite, meanwhile, advanced 0.4%. The broader market index fell as poor sentiment around the U.S. economy weighed on investor sentiment.
"The weak parts of the market remain weak and unable to rally, while the strong parts of the market are extended and vulnerable," BTIG's Jonathan Krinsky said in a Friday note. Wall Street on Friday absorbed a preliminary reading from the University of Michigan last week that showed consumer sentiment falling to a six-month low. Also in focus were debt ceiling negotiations as the U.S. draws nearer to the so-called "X date," or when the government may go into default without a raise in the debt limit to pay its bills.
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.
Stock Market Crash: S&P 500 to Drop 45% Amid Credit Crunch, RecessionA 31-year market vet who called the current bear market warns an impending credit crunch and recession will sink stocks by 45% as valuations remain higher than dot-com bubble levels
Read more »
Stock market today: Dow in second weekly loss as consumer sentiment nosedives By Investing.com*DOW, S&P 500 CLOSE LOWER ON FRIDAY AS U.S. STOCKS SUFFER 2ND STRAIGHT WEEKLY LOSS $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸
Read more »
S&P 500 cierra a la baja y registra una segunda semana de pérdidas, esto luego de datos decepcionantes sobre el sentimiento del consumidorS&P 500 cierra a la baja y registra una segunda semana de pérdidas, esto luego de datos decepcionantes sobre el sentimiento del consumidor
Read more »
Andrew McCarthy, Son Sam on What They Learned on 500-Mile Spain Walk''It's really hard to see your parents as real people,' and I think the inverse is true, so the journey was an effort to see each other for who we are.'
Read more »
Indy artist creates 500 fashion themed collection inspired by female race car driversAn Indianapolis based artist has created a fashion collection inspired by female race car drivers. The inspiration came about when she watched a documentary on Janet Guthrie, the first female qualifier in the Indy 500.
Read more »
Postal Service taking new steps to counter surge in robberies and mail theftsRobberies of postal carriers have exploded, surging 78% to nearly 500 in 2022.
Read more »