Stock market today

2022 - 5 - 9

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Image courtesy of "CNBC"

In today's environment, the notion that the stock market isn't the ... (CNBC)

The share of household wealth that comes from directly or indirectly held stocks hit a record 41.9%, more than double where it was 30 years ago. Tech companies ...

But it's probably getting ahead of itself in that regard." "So the sell-off we're seeing now strongly argues for a slowly growing economy, perhaps an economy that's flirting with recession. They want to slow the economy." For the central bank, inflation remains its main problem, and that has come from supply that has been unable to meet with relentless consumer demand for goods over services. Central bankers always have been attuned to market gyrations, but following the 2008 financial crisis, monetary policy has even more so relied on risk assets as a transmission mechanism. That's another reason why the Fed has to watch this." We've seen a really big correlation between equity prices and discretionary spending." "That's another element of the line between what's happening in the equity market and economic growth." That is no longer the case today." "If stock prices are down, it's much more difficult to raise equity. "The market is a prescient indicator of where the economy is headed, but overstates the case generally," Zandi said. Stocks and consumer confidence historically have been linked closely, so when stocks fall people tend to curtail spending.

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Image courtesy of "Kiplinger's Personal Finance"

Stock Market Today (5/9/22): Stocks, Bonds, Crypto and More Take ... (Kiplinger's Personal Finance)

An afternoon rally helped the major indexes snap their short skid. But Twitter accepting Elon Musk's bid stole the spotlight.

Among their greatest qualities right now is what's sure to be a common refrain in near-term investment advice: pricing power. The Nasdaq Composite (-4.3% to 11,623) has re-entered bear-market territory, off nearly 28% from its January highs. - Palantir Technologies (PLTR) stock surrendered 21.3% after the data analytics company reported lower-than-expected first-quarter earnings per share (2 cents actual vs. Bitcoin, which fell as low as $30,375 and finished off 13.4% to $31,153, has now fallen by more than 50% from its November 2021 peak. 4 cents estimated). The company also gave current-quarter guidance below Wall Street's estimates, adding that there is "a wide range of potential upside to our guidance, including those driven by our role in responding to developing geopolitical events." Edward Moya, senior market strategist at currency data provider OANDA, notes that institutional buyers are starting to pay close attention to Bitcoin, given that many who got in during 2021 are now losing money on their investment. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.) But this was a wide selloff that went well beyond just stocks and bonds. The S&P 500 (-3.2% to 3,991 – its lowest close since March 31, 2021) needs to lose another 4% or so before entering a bear market, while the Dow Jones Industrial Average (-2.0% to 32,245) would have to retreat another 9%. Technology (-3.9%) and consumer discretionary (-4.3%) were among the usual suspects in a trading day that saw each of the 11 S&P 500 stock sectors finish in the red. The S&P 500 fell to its lowest point in more than a year Monday as last week's selloff retained all of its momentum and bled into just about anything that trades. "Interest rates are a hammer, not a scalpel – they are blunt tools designed to move slowly and with great force, rather than precisely," says Andy Kapyrin, co-chief investment officer at registered investment advisory firm RegentAtlantic. "The Fed is swinging the interest rate hammer, and the financial markets are responding to the aftershocks."

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