Snapchat is about to play the canary in social media’s coal mine

"Snap is the worst-performing stock in our coverage universe thus far in 2022," Brian White of Monness Crespi Hardt said in a note Monday. "Moreover, we believe the darkest days of this economic downturn are ahead of us." Read More...


Wall Street surges as market seeks bottoming signs

Wall Street’s main stock indexes rallied as much as 3% on Monday, catalyzed by better-than-expected Bank of America earnings, while traders debated whether recent wild swings signaled some sort of bottom was forming after new-bear market lows were reached last week. On Thursday the benchmark S&P initially nosedived to its lowest since November 2020 after hotter-than-expected consumer Prices data reinforced expectations that the Federal Reserve’s aggressive rate hike path would trigger a recession. Obviously, the positive BofA earnings as well as and others have caused positive movement – while EPS growth is lower than previous quarters, it’s better than expected.

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