U.S. stock futures fell Wednesday morning as investors await the release of the Fed’s meeting minutes from earlier this month. CNBC reports that futures tied to the Dow Jones Industrial Average fell 149 points, or 0.5%. S&P 500 and Nasdaq 100 futures slid 0.5% and 0.6%, respectively. Yet, the Ukraine war and China’s ongoing COVID outbreak have further infused volatility into the market. “The Fed can’t really do anything about what’s going on between Russia and Ukraine, they can’t really do anything about China’s COVID zero policies … and a lot of traders are starting to get concerned,” Shawn Cruz, TD Ameritrade head trading strategist, told Yahoo Finance Live. “The way the market to me is reacting to that, is one, there’s de-leveraging going on. There are some liquidation events out there as well, and that is one of those ‘selling begets more selling’ type of environments. And then the other one is, there’s just not enough confidence out there to come in there and meaningfully put money back to work…”

 

CNBC/Tanaya Macheel and Sarah Min
Stock futures fall as investors await Fed update

U.S. stock futures were lower Wednesday after a sharp decline in the Nasdaq Composite during the previous session, while traders awaited the Federal Reserve’s release of its policy meeting from earlier this month.

Futures tied to the Dow Jones Industrial Average fell 149 points, or 0.5%. S&P 500 and Nasdaq 100 futures slid 0.5% and 0.6%, respectively.

Dick’s Sporting Goods shares tumbled more than 12% in premarket trading, despite topping earnings and revenue estimates for its fiscal first quarter, after the retailer cut its outlook for the year amid rising inflation and ongoing supply chain challenges.

You can keep reading, here.

 

The New Yorker/John Cassidy
What Is the Fall in the Stock Market Telling Us?

After staging a rally on Monday, when the Dow Jones Industrial Average rose two per cent, the stock market stalled on Tuesday. At the close of trading, the Dow had eked out a small gain, but the broader S. & P. 500 index was down nearly one per cent, and the Nasdaq composite was down more than two per cent.

If the Dow falls again this week, it will be the ninth week in a row: the longest streak since before the Second World War. The news media is full of stories about a bear market, which is usually defined as a fall of twenty per cent or more, but what is happening needs to be put into perspective. Outside of the cryptocurrency sector, where there has been genuine carnage, this year’s tumble in stocks has only partially erased the bonanza that investors enjoyed during the first two years of the pandemic, when Wall Street was buoyed by rock-bottom interest rates and a gusher of freshly minted money from the Federal Reserve. The pandemic bubble may have burst, but stock prices are still at very high levels.

You can read the full story, here.

 

Barron’s via Business Hala/Tae Kim
Snap’s Terrible Guidance Is Another Big Warning About the Economy

Some analysts are telling clients not to overreact to news that Snap has lowered its financial guidance, citing a more difficult business environment. But it’s likely that the social media company’s latest forecast is another sign that investors’ worst fears are coming true.

The global economy is disappearing at a rapid pace.

In a filing Monday, Snap (ticker: Snap) said it now expects year-over-year revenue growth for the second quarter to fall below the low end of the 20% to 25% range, with management asking investors to Had it. months ago. CEO Evan Spiegel told the JPMorgan technology conference that concerns over supply-chain problems, rising inflation and rising interest rates are affecting many businesses.

Continue reading, here.

 

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