Dow Jones futures dropped Monday, while Tesla stock rallied on an analyst upgrade following Friday's stock market rebound. Read More...
Reuters
Wall St set to open lower at end of volatile month
U.S. shares were set to open lower on Monday, with the tech-heavy Nasdaq on track for its worst start to the year as investors shied away from stocks with lofty valuations amid aggressive rate hike bets and geopolitical tensions. Valuations of growth and technology stocks, the star performers of 2021, have come under increasing scrutiny, with the Nasdaq declining 12% so far this month, as of Friday. “The January barometer, which states ‘as goes January, so goes the year’, will be negative, implying investors are in for a challenging year,” Sam Stovall, chief investment strategist at CFRA Research, said.
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