An Hour Ago
Nasdaq Composite is on track for longest weekly losing streak since December 2022
It’s only Wednesday, but the Nasdaq Composite is already pacing for a 3% decline this week – and its fourth weekly decline.
If the tech-heavy index ends the week in the red, it’ll mark the longest weekly losing streak for the Nasdaq since December 2022.
As it stands, the 3% fall already puts the Nasdaq on track for its worst weekly performance since January.
A sharp decline in tech shares, with Nvidia posting a nearly 4% drop, dragged the S&P 500 and the Nasdaq to their fourth losing session in a row on Wednesday. It also pulled the two indexes deeper into negative territory for April.
–Darla Mercado, Chris Hayes
2 Hours Ago
A strong earnings season can safeguard equities from higher interest rates, Barclays says
A strong slate of first-quarter earnings can serve to defend markets from high interest rates, according to Barclays.
“We think earnings can still backstop equities against higher rates,” analyst Emmanuel Cau wrote on Wednesday. “Much lowered Q1 estimates offer room for beats and pullback has reduced froth; so long as improving activity data keep an FY24 earnings recovery on track, buy the dip may work.”
However, “re-rating leaves little margin for error,” Cau added.
— Brian Evans
2 Hours Ago
Stock futures are little changed on Wednesday
Stock futures were little changed on Wednesday after the S&P 500 suffered its fourth-straight losing session.
Futures tied to the broad market index ticked up 0.02%, while Nasdaq 100 futures added 0.1%. Dow Jones Industrial Average futures slipped 5 points, or 0.01%.
— Brian Evans
