U.S. stocks ended a choppy session lower on Wednesday as another batch of mostly positive corporate earnings was offset by an ongoing rise in Treasury yields. Read More...
Reuters
U.S. stocks price in recession risk more than other assets, says Citi
The benchmark S&P 500 index is firmly in bear market, down about 22% year-to-date, as investors worried over rising interest rates, record inflation and the lingering impact of global-supply chain snags turned risk averse. Analysts now expect quarterly earnings growth for S&P 500 companies of just 2.8% from a year ago, much lower than an 11.1% increase expected at the start of July, according to Refinitiv data. Still, some gauges of the U.S. stock market that flashed warnings throughout the year ahead are more positive, while the S&P 500’s recent pattern of big upside moves echoes those seen in prior market bottoms.
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