U.S. Stock Futures Edge Down After Wall Street Selloff - WSJ

  

Category:  News & Politics

Via:  vic-eldred  •  one month ago  •  15 comments

By:   Xie Yu and Anna Hirtenstein (WSJ)

U.S. Stock Futures Edge Down After Wall Street Selloff - WSJ
Continued concerns about inflation weighed on markets, suggesting that the Dow is on track to extend a three-day losing streak.

S E E D E D   C O N T E N T



U.S. stock futures wobbled Thursday on continued concerns about inflation, suggesting that the Dow is on track to extend a three-day losing streak.

Futures tied to the S&P 500 slipped 0.4% and those linked to the Dow Jones Industrial Average shed 0.5%. Nasdaq-100 futures ticked down 0.3%, suggesting further losses for technology stocks after the opening bell.

U.S. stocks dropped Wednesday, with the S&P 500 and Dow suffering their steepest three-day declines since late October after a sharp rise in consumer prices heightened concerns about inflation.

Dwyfor Evans, head of macro strategy for the Asia-Pacific region at State Street Global Markets , said the 4.2% increase in consumer prices compared with a year earlier triggered debates about whether "inflation is actually more of an issue than we were led to believe and whether the Federal Reserve is going to have to be a little bit more aggressive."

Still, Mr. Evans said a clearer picture would emerge only with a longer series of data on jobs and inflation. He said U.S. Treasury yields suggested that inflation expectations were still relatively contained.

Global stocks followed Wall Street lower on Thursday. The pan-continental Stoxx Europe 600 fell 1% in early trading and Hong Kong’s benchmark Hang Seng Index lost 1%. Indexes in South Korea, Japan, Australia and the Chinese mainland also all retreated. 

U.S. Treasury prices rose, pushing yields, which move in the opposite direction, slightly lower. The yield on the 10-year Treasury note declined to 1.685%, according to  Tradeweb ,  down from 1.693% on Wednesday.

Taiwan’s bench+mark Taiex shed 0.8%, putting it  on course for a correction  after a steep selloff in the previous session. 

In Tokyo, shares in  SoftBank Group  plunged by more than 6%, even after the technology investor reported the  highest-ever annual profit  for a Japanese company. In a note to clients, Jefferies analyst Atul Goyal said the lack of a new buyback plan was disappointing, after SoftBank concluded an earlier program totaling $23 billion.

Bitcoin plunged 14% to $49,873, according to CoinDesk, after Tesla Chief Executive  Elon Musk  said his company  had suspended accepting the cryptocurrency  as payment for vehicles. 


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Vic Eldred
Professor Principal
1  seeder  Vic Eldred    one month ago

Inflation is here.

 
 
 
Hallux
Freshman Principal
1.1  Hallux  replied to  Vic Eldred @1    one month ago

Market is up ... you should know better than to rely on Futures.

Inflation is up around the world and most of it is being driven by fuel prices jumping causing goods to be more expensive. No surprise that the party is over.

 
 
 
Vic Eldred
Professor Principal
1.1.1  seeder  Vic Eldred  replied to  Hallux @1.1    one month ago
Market is up

It's called a "rally."  The market has been down for the 3 previous days. Yesterday's low was greater than today's high.


My advice for investors:  Leave your current investments alone, but start investing in TIPS - at least until there is no longer a democrat in the White House.

 
 
 
Hallux
Freshman Principal
1.1.2  Hallux  replied to  Vic Eldred @1.1.1    one month ago
The market has been down for the 3 previous days.

Wow! I've never seen that before, must be time to flog Pollyanna again. As to TIPS, possibly, but I prefer Oil.

 
 
 
Hallux
Freshman Principal
1.1.3  Hallux  replied to  Vic Eldred @1.1.1    one month ago

So that 'rally' is into its second day ... never do seeds on the market.

 
 
 
Vic Eldred
Professor Principal
1.1.4  seeder  Vic Eldred  replied to  Hallux @1.1.3    one month ago

You look worse with every post.

 
 
 
Hallux
Freshman Principal
1.1.5  Hallux  replied to  Vic Eldred @1.1.4    one month ago

I age 2 days for every day that goes by ... you'll catch up. Let's see what we look like come Monday.

 
 
 
Krishna
Professor Principal
1.1.6  Krishna  replied to  Vic Eldred @1.1.1    one month ago
The market has been down for the 3 previous days. Yesterday's low was greater than today's high.My advice for investors:  Leave your current investments alone, but start investing in TIPS - at least until there is no longer a democrat in the White House.

Apparently you posted that comment yesterday. 

I could be wrong, but apparently your comment was based more on your (very bearish) political views than on a clear knowledge of the market.

Because here's what actually happened on Friday (this was posted just after the close):

MarketWatch

William Watts

Fri, May 14, 2021 , 4:04 PM

Stocks ended with strong gains Friday, building on the previous session's bounce a s major benchmarks trimmed weekly losses. The Dow Jones Industrial Average rose around 361 points, or 1.1%, to end near 34,382, according to preliminary figures.

The S&P 500 finished around 61 points higher, up 1.5%, near 4,174, while the Nasdaq Composite rallied around 305 points, or 2.3%, to close near 13,430. Friday's gains were broad based, with tech-related shares rising alongside stocks tied more closely to the economic reopening

 
 
 
Krishna
Professor Principal
1.1.7  Krishna  replied to  Hallux @1.1.3    one month ago
never do seeds on the market.

I agree-- in part. Personally I'd rather say "Never do seeds on the market if what you say is based solely on some political agenda, rather than fact!" jrSmiley_9_smiley_image.gif

 
 
 
Krishna
Professor Principal
1.1.8  Krishna  replied to  Hallux @1.1.2    one month ago
I prefer Oil.

Good investment now, IMO. 

Well, while there's probably more upside to many of them, I think that oil stocks had been down too much on the assumption that fossil fuels are on their on the way out. Which is true-- but that will happen more gradually than many realize, so oil stocks had been waaay oversold. Probably good to own for quite a while....

Now they recovered somewhat, so I wouldn't buy more now.

(And aside from capital; appreciation, in general they pay very nice dividends! jrSmiley_2_smiley_image.png )

 
 
 
Krishna
Professor Principal
1.1.9  Krishna  replied to  Vic Eldred @1.1.1    one month ago
My advice for investors:  Leave your current investments alone, but start investing in TIPS - at least until there is no longer a democrat in the White House.

Well, people have different opinions.... (as the saying goes "that's what makes markets").

My own observation is that fairly recently many more of the "experts" have gotten a bit more bearish. (And yes, a lot of it is based upon inflation fears...well,  some of that bearishness based on hi valuations as well). 

My own view is that the past few months (or longer?) this market has become much more difficult to figure out. (IMO its a perfect market for reducing risk by clever trading of options, (puts and call) but personally I find that too time consuming)...

(What I've finally done After much research is bought a Covered Call ETF...but one one that has relatively good downside protection...and pays a nice dividend as as well).

 
 
 
Kavika
Professor Principal
1.1.10  Kavika   replied to  Vic Eldred @1.1.1    one month ago

Historically the market does better under and dem administration than a republican one. 

I take it you're not a financial advisor.

 
 
 
Krishna
Professor Principal
1.1.11  Krishna  replied to  Hallux @1.1.2    one month ago
As to TIPS, possibly, but I prefer Oil.

One trade I might do Monday (possibly even before the open) is buy more of a fairly risky stock I already own. . MNMD...closed at $3.23 Friday! (Most people would agree that any stock trading at around $3/share is highly speculative!). 

When I though medical uses of Cannabis was "the next big thing" I discovered this one. IMO it probably even "More next-er" than Cannabis. And of course much riskier:

{Disclaimer: Nothing I have posted is meant to be a recommendation to buy or sell any stock. Investing in the stock market is risky, and may involve loss of some or all of your invested capital...)

 
 
 
Krishna
Professor Principal
1.1.12  Krishna  replied to  Kavika @1.1.10    one month ago
Historically the market does better under and dem administration than a republican one. 

Correct.

And incidentally, while Republicans are generally critical of Biden's spending plans-- the fact is that will put money in many peoples pockets. And many of them will spend some of all of it. 

Increased spending is good for business....

(P.S: And that's just his Covid relief funding...if the Dems can get their infra-setructure program passed, that will all be great for the construction sector--for  both those businesses as well as the many currently unemployed people who will then find employed in construction of infra-structure. 

 
 
 
Vic Eldred
Professor Principal
1.1.13  seeder  Vic Eldred  replied to  Krishna @1.1.12    4 weeks ago
And incidentally, while Republicans are generally critical of Biden's spending plans-

Larry Summers is a Republican?

 
 
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