flinostone
2022-10-23

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Market week ahead 5.3%. Earnings reports limited gains for the market. Dow components American Express and Verizon fell about 1.6% and 4.5%, respectively, after their quarterly reports. In tech, social media company Snap fell 28% after reporting a quarterly revenue of $1.13 billion, below expectations. Treasury yields fell from their highs on Friday morning after a report from the Wall Street Journal that some Fed officials are concerned about overtightening with large rate hikes. That report appeared to boost equities as well. The central bank’s aggressive rate hikes have been a major factor in stocks falling into a bear market this year, and traders have continued raising their estimates of where the Fed will stop. “We really need a Fed pause. Not so much that they would just outright disavow future rate hikes, but that they would just say every meeting is live, and if the data go our way then after the first half of ’23 we don’t have to do more,” said Stifel chief equity strategist Barry Bannister on CNBC’s “Squawk on the Street.”
Market week ahead 5.3%. Earnings reports limited gains for the market. Dow components American Express and Verizon fell about 1.6% and 4.5%, respectively, after their quarterly reports. In tech, social media company Snap fell 28% after reporting a quarterly revenue of $1.13 billion, below expectations. Treasury yields fell from their highs on Friday morning after a report from the Wall Street Journal that some Fed officials are concerned about overtightening with large rate hikes. That report appeared to boost equities as well. The central bank’s aggressive rate hikes have been a major factor in stocks falling into a bear market this year, and traders have continued raising their estimates of where the Fed will stop. “We really need a Fed pause. Not so much that they would just outright disavow future rate hikes, but that they would just say every meeting is live, and if the data go our way then after the first half of ’23 we don’t have to do more,” said Stifel chief equity strategist Barry Bannister on CNBC’s “Squawk on the Street.”

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