Wall Street’s Worst Day Of 2024 Could Be The Start Of Something
The Nasdaq 100 just had a very, very bad day.
July 24 counted as the single worst session for big-cap US tech of the year so far. In fact, it was the worst day since October of 2022, when equities troughed for the cycle.
The 3.6% one-day rout pushed the benchmark nearer to a technical correction. From the highs seen earlier this month, the gauge is down nearly 8%.
Big-tech's worst 2024 one-day swoon came on the heels of the index's second-worst week of the year. As documented here, the Magn
The Orange Man extracts his fee and leaves everyone else holding the bag. I’ll happily trade a short-term sell off, for long-term prosperity and stability.
Traders and investors aren’t the same thing, so for investors, feel good about the opportunity to add to great companies at discounted prices. At least “discounted” compared to where they’ve been recently. A lot of Biden market highs that few appreciate. That Biden bull market spoiled us all.
I’m confuzzled here. I’d like Mr. Rubner to explain how higher borrowing costs (funding higher deficits), higher labor costs (thanks to mass deportations) and higher input prices (tariffs) are benefical to corporate earnings.
Or is he counting on a repeat of 2020? Does he really think that CEOs and consumers are that stupid? Maybe that’s not a bad bet.