After three days of rising markets, today's trading is mixed, with investors uncertain about future movements as they await potential changes in tariffs. S&P 500 displays a slight decline, influenced by cautious sentiments from economists, while tech stocks like GOOGL and UBER are notable exceptions, gaining 2.5% and 2.8% respectively. GOOGL faces minor challenges with new trade regulations, but its growth remains impressive, while UBER nears its yearly highs due to beneficial news. Analysts from Bank of America and Deutsche Bank express skepticism about ongoing market rallies and adjust forecasts accordingly.
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"Uber is rising 2.8% on reports it will slash collision insurance costs in California, inching closer to its 52-week high of $87 per share."
"Bank of America economist Michael Harnett warns that the stock market sell-off has more to go, suggesting selling during rallies and buying assets like gold on dips."
"Deutsche Bank has cut its S&P 500 year-end forecast to 6,150, down from a previous estimate of 7,000."
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