Expert buy, hold and sell recommendations from our team of analysts.
It's fair to say that this week's interest rate rise by the Fed in the US has shown that the collective consensus on stock prices that's called "the market" isn't sure what it should be doing.
Friday Close Change Change % Change Week % Dow Jones 52,573.29 509.19 0.98% -0.73% S&P 500 7,656.98 65.28 0.86% -0.63% NASDAQ 26,333.04 251.13 0.96% -0.56% […]
Week one of the scariest month for stocks and fear was contained but concerns about debt levels and rising bond yields have markets on edge. This is all understandable with sticky inflation readings, kinked to possibly stronger-than-expected economies, and central banks both in the US and Australia tossing up about an official rate rise or two!
Friday Close Change Change % Change Week % Dow Jones 53,559.99 -9.45 -0.02% 0.41% S&P 500 7,711.76 -19.23 -0.25% 0.78% NASDAQ 26,402.42 -138.93 -0.52% 1.41% […]
Just when you think it makes sense to be cautious with equities, you can count on the Yanks on Wall Street to find a silver lining inside a dark cloud. And this sounds like a fair call, with all US stock market indexes heading for a 'green on the screen' Friday finish, though for the week it was an 'in-the-red' story.
US stocks overall are heading for the third winning week in a row, and you can thank the spectacular earnings reports of most companies that have been on 'show-and-tell' over the past three weeks. Given the prevailing concerns about the future because of Iran's impact on oil prices, inflation and interest rates, the fact that FactSet reports that more than 90% of S&P 500 companies have posted second-quarter results, and earnings growth from the year-earlier period is tracking around 50%.
This week, Wall Street took the focus off the unreasonable demands of the Iranian leadership in the Strait of Hormuz unless there is compensation for the damage done to their homeland.
The see-saw-like moves for US stocks have been sustained with companies being smashed one day, only being bought the next day. And the ups and downs have been showing up in more than just share prices.
A once-derided rogue state is doing what Washington and Tehran can't manage on their own: talking peace. Wall Street, not just the Middle East, is watching closely.
Markets have been fighting two wars this week: one in the Middle East and the other between AI bulls and bears on Wall Street. Reporting season might just settle which one matters more.
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