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    New York (CNN Business)Stock markets are turbulent and Morgan Stanley is warning clients the ride is about to get even bumpier.Investors have "very few places to hide" in markets right now, with even defensive stocks succumbing to the pressure in recent days, Morgan Stanley equity strategists led by Mike Wilson wrote on Monday."The market has been so picked over at this point, it's not clear where the next rotation lies," Wilson wrote. "In our experience, when that happens, it usually means the overall index is about to fall sharply with almost all stocks falling in unison."Morgan Stanley says the backdrop "suggests" the S&P 500 will enter a bear market, signaling a 20% decline from previous highs. Recent selling may support the view that markets are moving into a "much broader sell-off phase," the bank said.US stocks fell sharply last week -- including a drop of nearly 1,000 points on the Dow on Friday alone -- on worries about the aggressive steps the Federal Reserve will take to tame very high inflation. Including Monday's modest losses, the S&P 500 is down...
    U.S. new-home sales decreased 2% to an annual rate of 772,000 in February, the government said Wednesday. That figure represents the number of homes that would be sold over a yearlong period of time if the same number of properties were bought each month based on the rate of sales in February. Compared to a year earlier, sales were down more than 6%. Economists polled by MarketWatch expected new-home sales in February to drop to an annual rate of 805,000. Read Next Read Next ‘I’m already feeling guilty’: My uncle is leaving me a large inheritance, but excluding my siblings. Should I gift them money every year, or set up a trust? ‘I would like to avoid paying taxes again, since I will be paying estate taxes on the inheritance.’ More On MarketWatch How to prepare your finances for another recession: ‘We think a hard landing will ultimately be unavoidable’ ‘Life is measurably better without the burden of this debt’: As Biden reviews student-debt cancellation, young people with debt delay buying a house...
    In this article FOUNPeople wait in line for t-shirts at a pop-up kiosk for the online brokerage Robinhood along Wall Street after the company went public with an IPO earlier in the day on July 29, 2021 in New York City.Spencer Platt | Getty Images News | Getty ImagesThis year's bull market in tech IPO has turned into a bear. The recent downdraft in shares of high-valued, high-growth, money-losing businesses has led to an outsized selloff in companies that hit the market in 2021. CNBC identified 55 tech companies that debuted in the U.S. this year through an IPO, special purpose acquisition company or direct listing. Only one of them — GlobalFoundries — is less than 20% off its high price. That means the rest are in bear market territory, typically defined as a drop of 20% or more from their peak. Ten of those companies have slid by at least that much in just the last week. Even worse, 23 of those companies have lost half or more of their value since reaching their highs, including Robinhood, which has...
    Catherine Wood, chief executive officer of ARK Investment Management LLC, speaks during the Milken Institute Global Conference in Beverly Hills, California, on Monday, Oct. 18, 2021.Kyle Grillot | Bloomberg | Getty Images It's been a dismal week for Cathie Wood's flagship fund, Ark Innovation, that's left nearly all of her holdings in bear market. Wood's main exchange-traded fund, which trades under ticker ARKK, is down more than 12% this week, on pace of its worst week since February. Ark Innovation is down 6% on Friday. Zoom In IconArrows pointing outwardsThe painful losses have left all but 2 of Wood's constituents more than 20% off their recent high, meaning they are in a bear market. Just Trimble and Tesla are less than 20% from their high, but the pair are both more than 10% from their 52-week records. Berkeley Lights, Proto Labs and Skillz are all more than 80% below their 52-week highs. Wood spoke to CNBC this week and kept her conviction in Ark's strategies, which focus on "disruptive innovation" in five digital plaforms: DNA sequencing, robotics, energy...
    In this article XLVVIDEO2:4902:49Trading Nation: Two traders debate if the health care space is still a buy after Merck Covid pillTrading NationHealth-care stocks ended last week divided. Merck, which led the group, rallied more than 8% on Friday after promising results from its antiviral Covid pill with Ridgeback Biotherapeutics. Vaccine makers such as Moderna and Novavax ended the day sharply lower. Market analysts are divided, too. Craig Johnson, chief market technician at Piper Sandler, is avoiding the group. "We're underweight the sector," Johnson told CNBC's "Trading Nation" on Friday. "We're just seeing absolute price moves up but poor relative performance against the rest of the market. In fact, I find areas inside like the equipment makers more constructive than either the pharma names or the biotech." The XLV health care ETF, which holds stocks such as Johnson & Johnson and UnitedHealth, has risen 12% this year. The S&P 500 is up 16%. "We couldn't be more opposite," Michael Bapis, managing director of Vios Advisors at Rockefeller Capital, said during the same interview. He sees numerous tail winds that should propel...
    Jorge Sanz | LightRocket | Getty Images Jitters around the delta variant hindering the economic comeback sparked a steep sell-off on Wall Street Monday, pushing a number of stocks into bear market territory already. The Dow Jones Industrial Average dropped as much as 930 points, on pace for its worst one-day decline of the year. The S&P 500 fell 2.1%, led to the downside by energy stocks. Investors are dumping cyclical shares as Covid cases rebounded in the U.S. with the delta variant spreading among the unvaccinated. Here are the stocks in the S&P 500 that have fallen the most from their 52-week highs, some of which have retreated over 60% from their records. Bear markets are defined by a 20% decline or more from a recent peak. Shares that are directly tied to a successful reopening such as airlines and cruise line operators bore the brunt of the sell-off. Carnival and Norwegian Cruise Line dropped more than 5% each, while Royal Caribbean fell over 4%. The trio have all tumbled at least 30% from their 52-week highs. Shares of United Airlines dropped 5.8%...
    VIDEO1:0901:09There's a great deal of risk in the market, long-time bear David Tice warnsTrading Nation The investor who sold his bear fund as the 2008 financial crisis was unfolding is delivering a grim long-term prognosis to Wall Street. From the S&P 500 to Big Tech to bitcoin, David Tice warns it's a "very dangerous period" for investors right now. "The market is very overpriced in terms of future earnings. We are adding debt like we've never seen," the former Prudent Bear Fund manager told "Trading Nation" on Friday. "We have the Treasury market acting very strange with rates falling dramatically." Tice, who's known for making bearish bets during bull markets, now advises the AdvisorShares Ranger Equity Bear ETF, which has $70 million in assets under management. The fund is up 3% over the past month, but it's off 62% over the last two years. He acknowledges it's tough to time the next major pullback, and he's often early. However, Tice is convinced a market meltdown is unavoidable. "We're not out of the woods yet, and this is a dangerous market," Tice reiterated....
    Poaching, in the United States?! Impossible, right? Wrong. After China, the United States is the second-largest importer of illegal wildlife and poachers exist in the U.S. as readily as they do in other countries. The difference, however, is that the attention placed on illegal poaching in the United States isn’t nearly as prominent as it is in the wild jungles across the world. This is not to say that people in the U.S. are not opposed to poaching, but there is a general disconnect between the idea of poaching and the fact that it often happens in our own “backyard.” Growing up in New Jersey, I can’t say that poaching was ever an issue the local government had to address and the only “poacher” I was familiar with was the maniacal Van Pelt from Jumanji. But as with many unjust actions that occur right under our noses: just because you can’t see something, doesn’t mean it doesn’t exist. So to continue with the education clichés: knowledge is power. The more you know about the realities facing animals that are...
    VIDEO1:2201:22Long-time bear David Tice predicts suffering on Wall StreetTrading Nation Long-time bear David Tice has new warning for investors. He expects stocks to fall at least 30% in a downturn that lasts two years. One of his major reasons: Business unfriendly policies from Washington. "We now have a Biden administration that has a Senate and a House. They're likely to enact very much more anti-capitalist policies," the investor told "Trading Nation" on Friday. "They have already raised the minimum wage. That's going to hurt earnings on the cost side." According to Tice, easy monetary and fiscal policies that support money printing will also sting Wall Street. "All of this is not good for financial markets," he added. Tice is known for running the Prudent Bear Fund before selling to Federated in 2008, just as the financial crisis was unfolding. Now as an advisor to the AdvisorShares Ranger Equity Bear ETF, Tice has spent much of his career making bearish bets during bull markets. His current fund, which is also designed to profit from underperformance, has been under pressure. It's down...
    New York (CNN Business)Bitcoin prices surged to a new all-time high of nearly $42,000 on Friday, only to plunge all the way back to about $32,000 Monday morning. That's a more than 20% drop -- which means bitcoin is now in a bear market, as bizarre as it sounds.Bitcoin is still up a lot over the past few months, not to mention from where it was trading just a few weeks ago. But the drop highlights how the stunning rise has raised alarm bells among some on Wall Street. "It's scary when the price of bitcoin just goes straight up," said James Putra, vice president of product strategy for TradeStation Crypto. "This pullback was needed."Just last week a strategist at Bank of America said bitcoin's surge may be the "mother of all bubbles," noting that the recent spike is larger than other notorious manias of the past few decades: gold in the 70s, dot-coms/tech in the late 1990s and housing in the mid-2000s. So the drop of the past few days is a "healthy correction" that "was due a long...
    Browns COVID-19 issues stemmed from players using hot tub The Fascinating Origins of Common Words You Use Every Day These $19k SUVs Will Make You Trade in Your Car Ad Microsoft This is a slam dunk if you want a one-card wallet in 2021 Ad Microsoft New Policy For Cars Used Less Than 49 Miles/Day Ad Microsoft Full screen 1/21 SLIDES © deberarr / Getty Images/iStockphoto 2020 has been a roller coaster for investors. After making new highs early in the year, the market absolutely cratered in February and March in response to the great uncertainty surrounding the outbreak of the coronavirus pandemic. The fall was so sharp and so steep — 35% from February 19 to March 23 — that it marked the fastest bear market in history. Find...
    Health officials lay out wish list for Biden administration: Restore the CDC, prioritize health across the globe DOJ: Prosecutor erred by promising to confer with Jeffrey Epstein victims Long-time Tesla bear Jim Chanos reduces his short in the company and says his position has been painful © David Orrell/CNBC/NBCU Photo Bank/NBCUniversal/Getty Images David Orrell/CNBC/NBCU Photo Bank/NBCUniversal/Getty Images Legendary short-seller Jim Chanos told Bloomberg he's reduced the size of his Tesla short, adding that his position has been "painful," for the last 12 months. Shares of the electric vehicle maker are up roughly 750% since last year, but Chanos said he still sees issues with Tesla's business model and valuation.  "We're not max short, but we are still short," he said. "But there's now so many other things to do in the EV space that we found lots of other things that are maybe even crazier than Tesla."  Visit Business Insider's homepage for more stories. Legendary short-seller Jim Chanos told Bloomberg he's reduced the size of his Tesla short, though he still holds a position betting...
    California Tightens Curbs; Cases Rise in 50 States: Virus Update This rebel lawmaker preserved Nebraska’s unique electoral system The Dow just clinched its fastest bear-market recovery in 30 years © Dow Jones Market Data MARKET EXTRA Load Error On Monday, the Dow finished firmly above its Feb. 12 closing high at 29, 551.41. At 193 trading days, it is the fastest bounceback from a fall of at least 20% from a recent peak — a widely accepted definition of a bear market — since April 17, 1991. That’s when the Dow took 191 trading days to recover from a bear-market drop. This recent run is a comparatively breakneck rebound for the blue-chip index, with the average recovery from a bear market to a fresh all-time high for the Dow, on average, spanning 1,483 trading days. The prospective record for the Dow, however, comes weeks after its rival benchmarks have rebounded mightily and far more rapidly from their coronavirus-induced lows. The S&P 500 traversed 126 trading days from its bear-market low before achieving a record high on...
    NASCAR Hall of Fame to reopen Sept. 16 with COVID-19 precautions in place 33 Products You Never Thought Would be Obsolete Tesla stock tumbles toward 2nd bear market in 6 months Shares of Tesla Inc. tumbled Tuesday, putting them on track to kick off their second bear market this year, as investors rode a roller coaster the past week that started with a climb to a record close and was followed by a stock offering, a big bounce, and then an S&P 500 index snubbing. © Getty Images The electric vehicle and battery maker’s stock (TSLA) dropped 13% in morning trading Tuesday. It has lost 27% since closing at a record $498.32 a week ago, which is the day a 5-for-1 stock split took effect. Load Error The stock’s selloff kicked off last Tuesday after the electric vehicle maker disclosed a $5 billion stock offering and a large shareholder reduced its stake. On Friday, the stock had plunged as much as 8.6% intraday, before pulling a sharp U-turn to close up 2.8%, to snap a 3-day losing...
    Donald Trump would be ‘very happy’ if NFL season doesn’t open if players kneel during anthem We Did Some Digging & Found the 14 Best Jackets at the Nordstrom Anniversary Sale The stock market is this close to setting another record -- the shortest bear market in history The S&P 500 could finish Tuesday at a new record high -- its first since the pandemic hit and exceeding its all-time high from February. That would mean it took Wall Street less than five months to go from nadir to new record, and the 2020 bear market would be the shortest in history. © Angela Weiss/AFP/Getty Images The magic closing number for the S&P 500 is 3,385.15. Monday's close was just 25 points, or about 0.7%, below that point. Load Error If all falls into place, the coronavirus bear market will have been the shortest ever at just 1.1 months, as well as the fastest recovery on record, according to S&P Indices' Howard Silverblatt. Although the index is on track for a record, it doesn't meet everyone's definition...
    New York (CNN Business)The S&P 500 (SPX) is on track to end Tuesday at a new record high -- its first since the pandemic hit and exceeding its all-time high from February. That would mean it took Wall Street less than five months to go from nadir to new record, which would be the shortest bear market in history.The magic closing number for the S&P 500 is 3,385.15. Monday's close was just 25 points, or about 0.7%, below that point.If all falls into place, the coronavirus bear market will have been the shortest ever at just 1.1 months, according to S&P Indices' Howard Silverblatt.Although the index is on track for a record, it doesn't meet everyone's definition of a new bull market just yet. CFRA Research defines a bull market as a 20% rally off the prior low that doesn't get undercut within six months. The S&P is still just short of a bull market by that definition -- but it will very likely happen, unless there's a sudden market crash in the next few weeks.Stocks fell into a bear...
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