A widely followed technical analyst is forecasting a big stock-market rebound.
Walmart WMT, Target TGT, and Tencent HK:700 each reported disappointing results to add fuel to the worries about interest-rate hikes and quantitative tightening. But, Melvin Capital aside, there haven’t been signs of capitulation.
Over the last six weeks, equity redemptions have totaled $46 billion, versus $91 billion when the COVID outbreak first became apparent, according to Sean Darby, chief equity strategist at Jefferies. So you could see the argument on why markets may not have plumbed their depths. The S&P 500 SPX , DeMark says, will see one more sell-off, with a close below 3,863, before a “shocking rally” lifts the index between 4,400 and 4,500. The 10-year TMUBMUSD10Y will make one more high before peaking, and crude oil CL.1 will make a top within four trading days — $117.29 per barrel, he forecasts — before turning lower.
The People’s Bank of China lowered the rate that is used for home mortgages in the country to 4.45% from 4.6%. SpaceX paid $250,000 to settle a sexual misconduct claim against its chief executive, Elon Musk, according to a report in Business Insider. Musk, also the chief executive of Tesla TSLA and bidder for Twitter TWTR , told the publication the story was a hit piece, and later tweeted that the accusations are untrue.
The video Tough to find a better video than a programmer teaching his goldfish to pick stocks, and then comparing the results to the picks on Reddit Wall Street Bets.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Doug Mastriano’s Pa. victory could give 2020 denier oversight of 2024The GOP gubernatorial nominee has made falsehoods in support of former president Trump central to his campaign.
Read more »
Dow tumbles 1,160 points in worst trading day since June 2020Dow tumbles over 1,000 points and the S&P 500 is hovering on the precipice of bear market territory as US markets continue downward on inflation fears.
Read more »
Man sentenced to 24 years in prison for starting 2020 Dolan FireA 31-year-old man has been sentenced to 24 years in prison for starting the Dolan Fire near Big Sur in Monterey County in 2020.
Read more »
2020 McLaren Speedtail with 275 miles on odometer headed to auctionOne of just 106 2020 McLaren Speedtails is coming up for auction, but the buyer will be limited to driving 2,500 miles per year.
Read more »
The U.S. census estimates it missed more than a half-million Texans during 2020 countImmigrants, people living in poverty and non-English speakers were among the most likely to be missed, yet the crucial count received lackluster promotion by Texas state government.
Read more »