The Nasdaq slipped on Monday as investors awaited the release of a slew of corporate earnings reports from big technology companies and fresh economic data. The Dow rose 0.20%. The S&P 500 gained 0.09%. The Nasdaq fell 0.29%.
— Alex HarringThe early earnings season results have showed companies beating a "pretty low bar" and the weakening economic outlook makes the market look uncomfortably pricey, according to Tim Urbanowicz, head of research and investment strategy at Innovator ETFs.
To be sure, the chief U.S. equity strategist noted that stocks appear to be holding up well so far this earnings period, trading more in line with fundamentals than over the past several quarters. That's due in part to the fact that stocks have traded well heading into the period instead of selling off as in previous season.
"This week with earnings season activity ramping up across a broad array of sectors we expect investors' anticipation of the Federal Reserve's upcoming FOMC meeting in the first week of May to add to the day to day tone and volatility of the markets," said John Stoltzfus, the firm's chief investment strategist.
"Logic would suggest piling into defensive stocks, whose earnings are less impacted by an economic slowing, and guess what, investors are piling into defensive stocks," said Tavis McCourt, managing director of institutional equity strategy, in a note to clients Sunday.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden official advising president on Big Tech has extensive Big Tech tiesA top Biden administration official responsible for advising the president on Big Tech policy spent years working in senior positions for Google and Google-backed groups.
Read more »
Big names and big dreams dominate second day of L.A. Times Festival of BooksStacey Abrams, Rep. Katie Porter and Walter Mosley were among the big names speaking Sunday at the festival.
Read more »
Just when you thought it was save to go back to Fiesta — T-storms could returnAfter an expected lull in thunderstorm activity on Monday, big booms and bright lightning could return to South and Central Texas on Tuesday. Stay tuned.
Read more »
Oil edges lower, extending last week's slumpOil futures tick slightly lower Monday, attempting to stabilize after last week's big drop.
Read more »
Weekly Forex Forecast \u2013 NASDAQ 100 Index, EUR/USD, GBP/USDMarkets had an unsettled week which saw little overall change in the value of most assets, with little going on except some CPI releases in the UK, Australia, and New Zealand-
Read more »
FOX Stock Price | Fox Corp. Cl B Stock Quote (U.S.: Nasdaq) | MarketWatchFOX | Complete Fox Corp. Cl B stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
Read more »