The major averages are set to close out their first trading week of the year with losses.
"And if we have a recession, the market will have ended its decline, say, down 35% from its peak, so that gives you the low 3,000s," Cooperman added.. As of Thursday's close, the Dow is down 0.66% week to date, headed for its fourth down week in five. Meanwhile, the S&P 500 and the Nasdaq are both on pace for their fifth straight week of losses, down 0.82% and 1.54%, respectively., citing concern around the company's huge fourth-quarter withdrawals.
"While the challenging backdrop for the crypto settlement business was a factor in the worse than expected results being released, we also believe that concerns voiced by short-sellers likely also contributed to Silvergate's customers withdrawing deposits from the platform at a greater than anticipated level," JPMorgan said.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock futures rise slightly as investors look ahead to Friday's jobs reportThe major averages are set to close out their first trading week of the year with losses.
Read more »
5 things to know before the stock market opens WednesdayHere are the most important news items that investors need to start their trading day.
Read more »
Could Tesla's Stock Ever Again Enter The Trillion-Dollar Club?Tesla was a trillion-dollar stock in April, but it has lost over half of its value since. The club currently only belongs to Apple, Microsoft, and Alphabet.
Read more »
Coinbase stock bounces after $100 million settlement deal with New York financial services regulatorShares of Coinbase Global Inc. bounced 4.1% in morning trading Wednesday, after it was announced that the cryptocurrency exchange agreed to a $100 million...
Read more »
Rivian stock hits new 52-week low after missing 2022 production targetRivian said it produced 24,337 vehicles last year, slightly missing its 25,000 target.
Read more »