There’s no obvious catalyst for a stock-market pullback, but Citi strategist fears one may emerge in September
That pretty obvious insight is borne out in this chart showing how, with a three-quarter lag, corporate earnings have more or less tracked stock prices. That’s another way of saying, the stock market has done a pretty good job of discounting future earnings.
It can’t last forever, can it? Levkovich is sticking with his 4,000 year-end price target for the S&P 500 — which means he thinks the market may drop by 10%. And he has a specific month in mind when it might, if not fall apart, at least get ropey. “The paucity of immediate catalysts for a pullback is cited regularly, although we worry about higher taxes, cost pressures eating into profitability, tapering and more persistent inflation all coalescing in September ,” he said.
Activision Blizzard ATVI, +2.63% rallied 7% in after-hours trade as the video-games maker, beset by allegations of employee harassment, beat earnings estimates. Dating website operator Match MTCH, -0.43% missed earnings estimates, as it said key markets in India, South Korea, Brazil and Japan are further behind the COVID recovery curve.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Two Big Asian Tech IPOs Surge on Market DebutsShares in a newly listed South Korean digital bank and an Indonesian e-commerce group both soared, pointing to investor appetite for tech deals in emerging markets across Asia.
Consulte Mais informação »
The strong jobs report is just strong enough, says a cautiously optimistic U.S. stock marketHow many new jobs are not enough to make Federal Reserve Chair Jay Powell taper the central bank's bond purchases ? 943,000 apparently.
Consulte Mais informação »
Why Investors Can’t Kick the ‘Past Performance’ HabitIn the stock market, the past never repeats itself exactly. Trying to convince people otherwise can backfire, warns columnist jasonzweigwsj.
Consulte Mais informação »
Cathie Wood Emerges as Guiding Light for Meme-Stock GenerationThe fund manager’s enthusiasm for Tesla, bitcoin and other volatile investments has boosted ARK’s exchange-traded funds, but this year has been a challenge. Ms. Wood said she maintains her faith in ‘disruptive investing.’
Consulte Mais informação »
'Y: The Last Man': See First Trailer for FX Series Based on Beloved Comic BookFX on Hulu has shared the first trailer for its long-awaited 'Y: The Last Man,' an adaptation of the beloved comic book series.
Consulte Mais informação »
'Dear White People' Final Season Is a 'Musical Event': Watch TeaserThe fourth and final season of DearWhitePeople will premiere next month!
Consulte Mais informação »