Market Coverage – Friday June 17 Yahoo Finance

Yahoo Finance published this video item, entitled “Market Coverage – Friday June 17 Yahoo Finance” – below is their description.

#RussiaUkraine #bonds #bitcoin #Biden #Stockmarket #coronavirus #memestocks #Fed

#YahooFinance #investing #stockmarket #bitcoin #crypto

Get the latest up-to-the-minute continuous stock market coverage and big interviews in the world of finance every Monday–Friday from 9 am to 5pm (ET).

U.S. stock futures rose Friday morning as equities at least temporarily paused a downward slide, as concerns over the prospects of a recession remained elevated.

Contracts on the S&P 500 rose by about 1% before the opening bell after the index slid to its lowest level since Dec. 2020 a day earlier. The S&P 500 headed for a weekly loss of 6% — its worst since March 2020.

Dow futures gained more than 200 points, or about 0.8%, in early trading. And futures on the Nasdaq rose more than 1% as the 10-year Treasury yield pulled back to about 3.2%.

Even given Friday’s early gains, the major averages remained on track to post steep weekly losses as traders considered the likelihood and timing of a potential recession. While signals of an economic slowdown have been brewing for months now, heightened fears of a more significant downturn resurged in just the past week alone. That came especially after last Friday’s Consumer Price Index showed inflation remained at multi-decade highs even following the Federal Reserve’s initial moves earlier this year to raise interest rates and bring down demand and prices.

And with the Fed now turning even more aggressive — starting with its first 75 basis point interest rate hike since 1994 on Wednesday — the potential for a slide in economic activity as the central bank trades some growth for lower inflation appears increasingly likely.

“The market is reevaluating what the odds of a recession are in the near-term and what the actual downside on earnings and what the recession will really look like,” Ross Mayfield, Baird investment strategy analyst, told Yahoo Finance Live on Friday. “But to me, it’s a fairly kind of tidy story about higher interest rates, more aggressive Fed, and multiple times in the past that leads to some sort of financial crisis or recession. I think the market’s trying to price the odds of that.”

And that pricing recalibration has so far brought the S&P 500 24% below its Jan. 3 record closing high. But stocks likely still have further to fall if history is any indication, some strategists said.

Deutsche Bank, one of the first major banks to call for a 2023 recession earlier this year, pointed out that the S&P 500’s current decline from its peak is so far in-line with the median drop seen amid recessions post-World War II. Currently, it’s the fourth worst non-recession correction over that period, Deutsche Bank’s Jim Reid said in a note Friday morning. But when recessions materialize, bear markets for stocks tend to deepen.

“The timing of the recession is a hot topic at the moment. When it hits, both [Binky Chadha, Deutsche Bank chief U.S. equity and global strategist] and I would expect the S&P 500 to be down -35 to -40% from the highs,” Reid said. “The rationale from [Chadha] being that the initial overvaluation was more extreme than normal cycles, with my additional comment being that this recession marks a regime shift from decades of declining inflation to higher structural levels. This deserves a bigger de-rating than average.”

For more on this article, please visit: https://finance.yahoo.com/news/stock-market-news-lives-updates-june-17-2022-115405485.html

Yahoo Finance YouTube Channel

Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.


In This Story: Bitcoin

Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software. Bitcoin was the first decentralized cryptocurrency.

4 Recent Items: Bitcoin

Bitcoin to ‘Keep Grinding’ Until More Fed Clarity: Marathon Digital Holdings CEO

LIVE: Stock Market Coverage – Friday August 12 Yahoo Finance

Creating the First-Ever Digital Nation for The African Community

BlackRock launches private trust to track the price of Bitcoin

In This Story: COVID-19

Covid-19 is the official WHO name given to the novel coronavirus which broke out in late 2019 and began to spread in the early months of 2020.

Symptoms of coronavirus

The main symptoms of coronavirus are:

  • a persistent new cough (non productive, dry)
  • a high temperature (e.g. head feels warm to the touch)
  • shortness of breath (if this is abnormal for the individual, or increased)

Latest News about Covid-19

Below are stories from around the globe related to the 2020 outbreak of novel Coronavirus – since the WHO gave the Covid-19 naming. Most recent items are posted nearest the top.

5 Recent Items: COVID-19

CDC Issues New Guidance On Covid Exposure: What You Need To Know

LIVE: Stock Market Coverage – Friday August 12 Yahoo Finance

Fauci jokes he ‘created’ COVID in kitchen

17 GOP governors urge Biden to lift vaccine requirement for international travelers

North Korea declares victory over COVID; Kim Jong Un’s sister blames South Korea for outbreak

In This Story: Deutsche Bank

Deutsche Bank AG is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed in New York Stock Exchange and Frankfurt Stock Exchange. The bank’s network spans 58 countries with a large presence in Europe, the Americas and Asia.

5 Recent Items: Deutsche Bank

Palantir stock falls after Deutsche Bank downgrades shares

Fed to Reach Peak Rates in First Quarter 2023: Sachdeva

PayPal stock dips after Deutsche Bank analyst strikes cautious tone

Mild Recession in US in First Half of 2023: Holtze-Jen

Tesla stock upgraded to Deutsche Bank’s ‘short-term buy’ list

In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

1 Recent Items: Inflation

Wildfires blaze in France and Portugal as heatwaves scorch Europe | ITV News

Leave a Comment

We don't require your email address, or your name, for anyone to leave a comment. If you do add an email address, you may be notified if there are replies to your comment - we won't use it for any other purpose. Please make respectful comments, which add value, and avoid personal attacks on others. Links are not allowed in comments - 99% of spam comments, attempt to post links. Please describe where people may find additional information - for example "visit the UN website" or "search Google for..." rather than posting a link. Comments failing to adhere to these guidelines will not be published.