RBC Capital Markets equity analysts Lori Calvasina and Sara Mahaffy map out key levels to watch, and see 3,850 as the next rung down the ladder for the S&P 500 if a low from last Friday’s brutal session doesn’t hold.
We’re a day away from what could be the first half-point hike from the Federal Reserve in 22 years. Kicking a busy central bank week was the first rate increase since 2010 from Down Under.
During those “scares” — the 2010 European debt crisis, the 2011 U.S. debt downgrade, the earnings/industrial recession of 2015-16 and the late 2018 China trade war/quantitative tightening selloff — equity declines ranged from 14% to 20%, for an average drop of 17.7%. The pair are also keeping a close eye on weekly Commodity Futures Trading Commission data on asset manager positioning in U.S. equity futures. While signs of retail bearishness are everywhere, the institutional side isn’t quite there yet, they note. “And it may simply be that in order for the U.S. equity market to bottom, institutional investor sentiment needs to catch down to retail.”
Russia plans to annex large parts of Eastern Ukraine, a U.S. official has warned. And the EU is reportedly looking to Africa to help wean off Russian natural gas. The chart “Relative to the U.S. economy, the S&P 500 is still 28% more expense then it was at its 2000 bubble peak,” writes JonesTrading’s O’Rourke, who provides the below chart:
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.
Up to 500 hp for the AWD, dual-motor Cadillac Lyriq | Car News | Auto123Cadillac announces the power that will be available in the all-wheel drive version of its Lyriq electric SUV. We're talking a whopping 500 horses. Auto123.
Read more »
S&P 500, Nasdaq 100, Dow Jones Forecast for the Week AheadS&P 500 posts worst month since 2020 Covid crash. All eyes on Powell for direction. Get your weekly equities forecast from JMcQueenFX here:
Read more »
This father-son duo watches the 'pageantry' of Indy 500 as fans and 'yellow shirts'As 'yellow shirts,' Dan and Danny Hagist hope to help others experience the magic that keeps bringing them back to the Indy 500, year after year.
Read more »
Driven: The Fiat 500 RED Is A Charming And Easy-Going Urban EV | CarscoopsThe 500 has been transformed into a niche EV that is better than its predecessor in every possible way
Read more »
Mercedes-Benz EQS 580 Road Test Review | 500 miles in SoCal | AutoblogA much-needed extended test of the Mercedes-Benz EQS 580 reveals even more to love (and a few things that could use some work) about the electric sedan.
Read more »
Stocks Could Plunge Another 15% After Fed-Spurred Selloff—Will The Economy Fall Into Recession?One analyst worries inflation will force the Fed to hike rates 'until it hurts.' Experts weigh in on whether a recession is around the corner.
Read more »