Tom Lee Says There Were Five Big Reasons Why Markets Stumbled. He Has Familiar Advice.
Stocks have had a tough week, but dip buyers should start getting busy, says Fundstrat's Tom Lee.The stock market is likely "closer to the bottom," after Thursday's washout, and investors should buy the dip, says Wall Street's prescient and biggest bull, Tom Lee."We still favor Mag 7, AI and crypto, the industrials, financials and small-caps," the head of research at Fundstrat told clients in a note that published early Friday.The strategist has forecasted the S&P 500 could reach 7,000 by year-end, provided certain conditions are met. He said Thursday "was disappointing because Nvidia had great numbers," offering five other reasons for the overall stock-market reversal."That didn't sit well with many members of Congress," and "rattled markets a bit," he said.Another factor was concerns over potential revelations from the Epstein Files Transparency Act, which Trump signed into law on Wednesday. Lee said some worry billionaire donors could be named, such as a political leader or a "famou
Oil Falls 2% as US-China Trade Tensions Rattle Nerves
UPDATE 2-Oil falls as US-China trade tensions rattle nervesUpdates with latest prices, background, analyst commentBy Anjana Anil and Emily Chow. SINGAPORE, Oct 14 - Oil prices reversed early gains and fell on Tuesday amid uncertainty about trade tensions between the U.S. and China, the world's top two economies, which could weigh on global fuel demand.Brent crude futures LCOc1 slipped 28 cents, or 0.4%, to $63.04 a barrel by 0630 GMT, while U.S. West Texas Intermediate crude CLc1 was at $59.26, down 23 cents, or 0.4%.In the previous session, Brent settled 0.9% higher, and U.S. WTI closed up 1%., the market term for immediate deliveries fetching a premium over later deliveries, suggests investors are making less money selling their oil in the spot market because near-term supply is perceived to be ample. In its monthly report on Monday, the Organization of the Petroleum Exporting Countries, and allies including Russia, said the oil market's supply shortfall would shrink in 2026, as the
Rare Earth Stocks Rally. Critical Metals up 33%; USA Rare Earth up 30%; Energy Fuels, MP Materials up over 21%; The Metals up 20%
Rare earth stocks extended recent gains as fresh tensions between Beijing and Washington over China’s exports of the critical minerals fueled bets on alternative suppliers.Critical Metals up 33%; USA...
Trump Revives Call to Ditch Quarterly Earnings Reports. What Comes Next?
European companies already report twice yearly. Trump wants to allow U.S. businesses to do the same.President Donald Trump reiterated his call for companies to ditch quarterly reporting in a post on Truth Social early Monday.President Donald Trump wants companies to ditch quarterly reporting and instead post results every six months - a move that could be dramatic for U.S. investors but that has international precedent.Trump brought up the issue during his first term in office, and he was back with a refreshed call in a post on his Truth Social network early Monday. "This will save money, and allow managers to focus on properly running their companies," he wrote.Trump said this time around that the matter is "Subject to SEC Approval." It remains to be seen how serious the president is about pushing for this change.TD Cowen analyst Jaret Seiberg said that action by the Securities and Exchange Commission is probable, though not guaranteed. Taking up the matter would be "an easy win for S