
The slipped Tuesday, as investors digested strong gains from recent sessions.
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The broad market index fell 0.3%, while the dipped 0.6%. The lost 55 points, or 0.1%.
Tech was the worst-performing S&P 500 sector, losing around 0.9%. lost 2%. , and were also lower on the day.
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The moves come a day after the S&P 500 eked out a small gain to stretch its winning streak to six days. That's its longest run since a nine-day streak that ended earlier this month. While were marginal, they did add to what has been a rapid and sharp rebound for stocks over the past five weeks.
The S&P 500 has rallied more than 20% since hitting an April low on the back of President Donald Trump's tariff announcement. It's now is now about 3% from its record high.
"I would say that the largest consideration is the fact that we've had the swoon related to the introduction of tariffs, the furious rally associated with the de-escalation of those tariff implementations, and now we're awaiting clarification as many of these negotiations are ongoing," Bill Northey, investment director at U.S. Bank Wealth Management, told C온라인카지노사이트 in an interview.
Money Report
Northey added that investors are stuck in a state of "optimism without clarity."
traded slightly higher after the home improvement retailer , expecting total sales for the full year to grow by 2.8%. CFO Richard McPhail also said the company doesn't have any plans to raise prices in the face of higher tariffs.
UBS says to stay invested, despite persistent volatility ahead
UBS recommends staying invested going forward, even in the face of ongoing uncertainty.
"We expect volatility ahead as investors contend with uncertainty on several fronts," the bank wrote in a Tuesday note. "Still, we recommend staying invested, along with various strategies to manage volatility, as we expect the S&P 500 to edge higher over the next 12 months and the 10-year Treasury yield to fall."
UBS added that that besides stocks, investors should consider buying bonds, golds and hedge fund for diversification.
— Lisa Kailai Han
Musk commits to leading Tesla for next five years
Tesla CEO Elon Musk has committed to leading the electric-vehicle maker for the next five years.
"Yes, no doubt about that at all," Musk at Bloomberg's Qatar Economic Forum in Doha.
Musk's comments come as some investors have questioned his commitment to Tesla, as he has dedicated much of his time in recent months to advising President Donald Trump and leading the Department of Government Efficiency.
Tesla shares were up less than 1% Tuesday morning.
— Ashley Capoot, Spencer Kimball
Correction: The Qatar Economic Forum was held in Doha. A previous version of this post misidentified the city.
S&P 500 cools after six straight days of gains
The took a breather after six consecutive positive sessions.
The index shed 0.3%, while the dipped 0.4%. The was fractionally lower.
— Lisa Kailai Han
Stocks making the biggest moves premarket
Check out some of the companies making headlines in premarket trading.
- — The home improvement retailer gained 2.4% after it . CFO Richard McPhail also told C온라인카지노사이트 Home Depot doesn't plan to increase prices due to tariffs.
- — Shares of the cruise line fell 5.6% despite first-quarter results coming in better than expected. Viking lost 24 cents per share, excluding items, on revenue of $897.1 million. Analysts polled by FactSet expected a loss of 29 cents per share on revenue of $841.2 million.
- — The cloud tech stock gained advanced 3% following an upgrade to outperform from Evercore ISI, with analyst Amit Daryanani labeling its risk-to-reward skew as an attractive entry point for investors.
Read the full list .
— Brian Evans
HSBC sees signs of global reallocation towards European equities
We could just be at the beginning of a structural shift in global equity flows, according to HSBC.
"In many ways, the current muddle-through scenario – marked by wavering tariffs and shifting policy signals – might be the environment most likely to trigger a rotation in global equities," wrote HSBC strategist Alastair Pinder in a Tuesday note. "If conditions were as dire as markets feared following 'Liberation Day,' the damage would have hit risk assets broadly. Instead, what we're seeing is a more nuanced backdrop: the U.S. no longer looks as exceptional, while other economies across the world are ramping up stimulus."
The strategist added that he has begun to see signs of global investors reallocating their flows towards European equities.
"Our model, which uses higher-frequency flow data into select non-U.S. domiciled or sold ETFs and mutual funds, estimates that from April through 9 May foreign investors pulled cUSD30bn from U.S. equities. Interestingly, there is evidence European equities are benefiting, with substantial inflows of USD35bn year-to-date, especially into Germany," he added.
— Lisa Kailai Han
Bank of America says to buy JPMorgan Chase stock following latter's Investor day
Following 's Investor day, Bank of America reiterated its bullish stance on the bank stock.
"Investor day provided plenty for the Street to like, with management laser focused on optimizing ROE by efficiently growing the business, while ensuring ROE resiliency by undertaking investments to ensure sustained growth," wrote analyst Ebrahim Poonawala. "Beyond the superior execution, we view the stock as offering an attractive risk/reward to gain exposure to several secular themes including private credit, wealth management, payments/digitization, AI led efficiency gains, and unlocking earnings from a shift to a balanced regulatory backdrop."
Poonawala was assured by CEO Jamie Dimon suggesting that he is unlikely to step down as CEO in the near term, which the analyst said removed the "single biggest idiosyncratic risk factor debated by investors." Meanwhile, management seemed open to potential M&A activity as a way to deploy its excess capital.
Poonawala's price target of $300 is roughly 13% above where shares of JPMorgan closed on Monday.
— Lisa Kailai Han
Home Depot rises after retailer keeps full-year outlook
shares climbed more than 1% after the company maintained its full-year guidance.
The home improvement retailer . Comparable store sales are forecast to expand by about 1%.
CFO Richard McPhail also said the company won't hike prices due to tariffs.
— Fred Imbert
What Monday's turnaround shows investors, according to Barclays
Barclays' trading desk highlighted two takeaways from Monday's market comeback:
- "The market is still deeply wedded to the tension between fiscal (positive via stocks) and the payback. ... However, even if there is an appetite to gravitate towards 'round' numbers ... the fact is that yields have not really moved enough locally for them to matter for equities near term."
- Investors are not done taking on risk. "Although it is hard to claim that 'systematics' are responsible for the morning squeeze (or retail for that matter), we should nonetheless respect that there are several verticals of investor that are insufficiently risked into a market that is now +110bps YTD (SPX)."
— Fred Imbert
Big Tech stocks outperforming in May
As the market has gotten closer to its record high, the megacap tech stocks have reasserted their leadership.
This month, the is up more than 13%, while the Nasdaq 100-tracking is up 9.8%. Meanwhile, the is up 7.3% month to date, and the trails even further behind with a 6.4% gain.
One outlier to this trend is , which is down about 1.8% month to date.
— Jesse Pound
Storm clouds on Treasurys' horizon, with or without Moody's downgrade: Capital Economics
Friday's credit downgrade of the U.S. by Moody's Ratings comes at what was already a "tough time" for the Treasury market, according to a strategist for Capital Economics.
"The decision by Moody's to downgrade the U.S. government's credit rating highlights that there are several potential storm clouds on the horizon for Treasuries," wrote Thomas Mathews, head of markets for Asia Pacific.
Sentiment toward the safe-haven status of Treasuries "has arguably deteriorated a bit of late, and the Moody's downgrade comes at a slightly more fragile time for the U.S. bond market," than was the case when Standard & Poor's downgraded U.S. debt in 2011, Mathews wrote.
"It's becoming easier to build a more-negative case for the fortunes of the world's largest bond market," Capital Economics said, citing multiple causes of concern:
- Long-dated Treasurys that have yet to fully recover from their "April dislocation"
- Concerning debt levels and the outlook for still "greater issuance"
- Remote odds for "serious efforts to tackle the U.S. fiscal position"
- Debt ceiling talks later this year that are likely to prove fractious
- Political pressure on the Federal Reserve from the Trump White House
- Shaky demand from Asian buyers
— Scott Schnipper
Equity futures open little changed
Stock market futures were calm when trading resumed at 6 p.m. in New York. S&P 500 futures were down less than 0.1%.
— Jesse Pound