Wall Street returned to falling Monday, ahead of a busy week with updates scheduled for how bad inflation is and how corporate profits are handling it.
lost even more, 11.3%, in the first trading session after billionaire Elon Musk said he wants out of his deal to buy the social media platform for $44 billion. Twitter said it will take Musk to court to uphold the agreement.Other big technology companies were also particularly weak. It’s a continuation of this year’s trend, in which rising rates most hurt the investments that soared highest earlier in the pandemic.
Such a thing doesn’t occur often, and some investors see it as a sign that a recession may hit in the next year or two. Other warning signs in the bond market that some see as more reliable, which focus on shorter-term yields, still aren’t flashing. But they also are showing less optimism.Data collected by the U.S. Bureau of Labor Statistics -- but not made available to the public -- show a gulf between the market conditions affecting new versus renewing renters.
“The Goldilocks option is now off the table,” in which stocks and bonds can rise in concert, said Wei Li, global chief investment strategist at BlackRock Investment Institute. Expectations for second-quarter results seem to be low. Analysts are forecasting 4.3% growth for companies across the S&P 500, which would be the weakest since the end of 2020, according to FactSet.
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