11/27/2022 0 Comments Vsco keys open source work![]() ![]() “If the economy is nearing recession’s door, job layoffs will climb further, and it is too early to rule out more staff cuts in the weeks and months ahead,” FWDBONDS Chief Economist Christopher Rupkey said in a recent note. Moreover, the S&P 500 reported earnings growth of 9%, marking the lowest since the fourth quarter of 2020, and 68 companies tracked by the index provided negative EPS guidance for Q1, the highest since year-end quarter of 2019, per FactSet. The term “inflation” was mentioned at least once during 398 earnings calls held by S&P 500 companies from March 15 through May 24, research from FactSet indicated, with a similar number – 338 – mentioning “supply chain” in roughly the same period. Indeed, if company forecasts hold true, macroeconomic pressures are likely to show up more meaningfully in second quarter results. After a week of steep losses, markets were up in Monday morning trading. NEW YORK, NEW YORK - MAY 23: Traders work on the floor of the New York Stock Exchange (NYSE) on in New York City. With a number of big name companies reporting inflation-related profit pressures and seeing their stocks slide in recent weeks, market participants have grown wary firms could lay off workers and pause hiring to cut costs May’s jobs data is expected to reflect a slowdown in hiring from a red-hot prior reading of 428,000 jobs, with economists looking for 325,000 jobs added or created last month, per consensus Bloomberg estimates. employment as concerns mount over uncertainty in the economic outlook. The Labor Department’s closely-watched jobs report will offer a snapshot of U.S. Investors are expected to take their cue from a flurry of key employment data in the holiday-shortened final week of May when trading resumes Tuesday. Wall Street will be off on Monday in observation of the Memorial Day holiday. “Of course, to keep things honest, the in 2001 was rough sledding,” LPL’s Ryan Detrick pointed out over the next 6 months the S&P 500 fell another 14%. The S&P 500 has snapped a losing streak of this length only three other times in history - 1970, 1980, and 2001 - and twice the index rose 33% over the next 12 months, according to data from LPL Financial. All three major indexes logged weekly gains of at least 6%, buoyed by a batch of upbeat economic data and more positively received earnings reports from the retail sector. These gains ended the longest weekly losing streak in nearly two decades for the S&P 500 after the index tip-toed into bear market territory. stocks last week snapped a seven-week losing streak for the S&P 500 and Nasdaq, while the Dow logged gains for the first time in eight weeks. ![]()
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