S&P 500 INDEX (SPX) Live: Markets Shun Risk Amid Economic Hurdles
Live Updates Live Coverage Updates appear automatically as they are published. Stock Market Outlook: BofA 10:57 am by Gerelyn Terzo According to Bank of America, investor sentiment regarding the wider stock market has seen an uptick. The Wall Street firm’s equity risk-love indicator, which showed deep panic just last month, has most recently registered a […] The post S&P 500 INDEX (SPX) Live: Markets Shun Risk Amid Economic Hurdles appeared first on 24/7 Wall St..
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Stock Market Outlook: BofA
According to Bank of America, investor sentiment regarding the wider stock market has seen an uptick. The Wall Street firm’s equity risk-love indicator, which showed deep panic just last month, has most recently registered a neutral position. Should the pattern persist, this positive change suggests that equities could soon move to challenge their all-time highs. The SPX ETF remains lower by 0.35%.
This article will be updated throughout the day, so check back often for more daily updates.
Markets began the day on a weaker footing today, largely giving back the slight advances seen yesterday. Yesterday’s session was notable for extending the S&P 500’s winning streak to six straight days, with both the Nasdaq Composite and Dow Jones Industrial Average also moving into positive territory. The SPX ETF is lower by 0.35% as of mid-morning trading.
Moody’s downgraded the U.S. debt rating, prompting Deutsche Bank to declare the U.S. economy is experiencing a “death by a thousand cuts.” But the outlook also suggests the U.S. economy is at the tail end of that downward spiral. Deutsche Bank’s Jim Reid wrote in a note,
“Yesterday felt like we were somewhere along the line of a ‘death by a thousand cuts’ with regards to the U.S. fiscal situation. Hard to know where in that thousand we are but probably much nearer a thousand than at zero even as yesterday saw an initial sell-off reverse as the session went on.”
Amidst the overall declines, Tesla (Nasdaq: TSLA) stands out, gaining 3% and helping to cushion the drops in the Nasdaq Composite and S&P 500. Dow component Home Depot (NYSE: HD) has signaled it won’t be passing on tariff-related expenses to customers, a contrasting strategy to Walmart (NYSE: WMT), another Dow component, which had previously indicated such plans before the White House urged them otherwise.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 58.88 (-0.14%)
Nasdaq Composite: Down 59.95 (-0.31%)
S&P 500: Down 12.18 (-0.20%)
Market Movers
The quantum computing sector is making headlines, driven by D-Wave Quantum (Nasdaq: QBTS), which saw its shares jump by up to 20%. This surge follows the release of its latest quantum computing system, the Advantage2, now available through the cloud. The company highlights this as its most potent quantum offering to date, featuring improved energy performance and lower operational noise.
Dominion Energy (NYSE: D) is up 3.3% and inching closer to its 52-week high.
Norwegian Cruise Line (NYSE: NCLH) is losing 3.2% of its value.
Airbnb (Nasdaq: ABNB) is down 3.1% after Spanish authorities mandated the removal of numerous short-term rental listings.
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