A 5-10% pullback in S&P 500 'entirely possible' says BofA's Subramanian By

Category: Finance

Bank of America predicts increased market volatility and a potential 5-10% pullback in U.S. equities due to election uncertainty. Savita Subramanian highlights that while certain sectors like healthcare and green energy may face pressure, the bank maintains a positive outlook on the U.S. economy and has not altered its price target. The focus remains on anti-cyclical, pro-growth, and pro-tech investments, with expectations that income investors will become significant buyers of stocks.

Keywords: Market Volatility, U.S. Equities, Bank of America

Source: Investing.com

Update At: 7/23/2024

Related Sources

What Lies Ahead for Southwest Airlines' (LUV) Q2 Earnings?

Southwest Airlines is set to report its second-quarter 2024 results on July 25, with expectations of $7.35 billion in revenue, reflecting a 4.45% year-over-year growth. Despite a solid operational performance, the company anticipates a decline in revenue per available seat mile (RASM) and an increase in costs, leading to a downward revision of earnings estimates. The current Earnings ESP stands at -2.71% with a Zacks Rank of #4 (Sell).

Yahoo Finance

Southwest Airlines Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Southwest Airlines is set to release its Q2 financial results on July 25, with expected earnings of 51 cents per share and revenue of $7.32 billion. Recent safety concerns arose from a flight taking off from a closed runway. The company's shares fell 2.1% to $26.61. Analysts have varied ratings, with Deutsche Bank maintaining a Buy rating but lowering the price target to $32.

markets.businessinsider.com

Why Nvidia Stock Crashed on Monday

Nvidia's shares fell significantly due to poor market conditions and a delay in the launch of its next-generation AI processor, the Blackwell B200, caused by a design flaw. Despite the challenges, some analysts maintain a buy rating, citing strong demand for Nvidia's products and potential for future growth.

Motley Fool

Who was Raymond Chan? Deadpool & Wolverine tribute explained

In 2023, the average amount borrowed by new customers taking out equity release plans was £97,878, according to the Equity Release Council.

Radio Times

Who was Henry Delaney? Deadpool & Wolverine tribute explained

In 2023, the average amount borrowed by new customers taking out equity release plans was £97,878, according to the Equity Release Council.

Radio Times

Deadpool & Wolverine delivers major surprise with X-Men casting

In 2023, the average amount borrowed by new customers taking out equity release plans was £97,878, according to the Equity Release Council.

Radio Times

Deadpool & Wolverine addresses fate of MCU's delayed Blade movie

In 2023, the average amount borrowed by new customers taking out equity release plans was £97,878, according to the Equity Release Council.

Radio Times

Stocks making the biggest moves after hours: Dexcom, Coursera, Deckers Outdoor and more

Deckers Outdoor's stock rose 8% after exceeding earnings expectations, while Dexcom's shares plummeted over 35% due to lowered revenue guidance. Boston Beer Company missed earnings estimates, causing a 5% decline in shares. Coursera's stock surged 16% after surpassing revenue expectations despite a loss. Mohawk Industries saw a 10% increase in shares after reporting strong earnings, while Juniper Networks fell 1% after missing earnings and revenue estimates.

CNBC

Key Inflation data, 3M reports, and Bristol Myers report:

Investors are reacting to the latest PCE report as US equities face a challenging week, highlighted by the Nasdaq's worst trading day in two years. Key stocks like Amazon, Apple, and Tesla are in focus, with 3M and Bristol Meyers Squibb reporting strong earnings and raising their outlooks.

Yahoo Finance

Biggest stock movers today:WW, MMM, DXCM, COUR, and more (NYSE:NWG)

Stock futures rose as the market seeks recovery from a tech-led sell-off. Key stock movers include Coursera, which reported strong quarterly results driven by AI course demand, and NatWest, which upgraded its financial outlook despite a profit drop. 3M reached a 52-week high following a positive earnings report, while Bristol-Myers Squibb exceeded expectations and raised its EPS outlook. WW International faced a downgrade due to declining app trends, and DexCom's mixed results raised concerns about its revenue outlook. Boston Beer reported disappointing Q2 results with a revenue decline.

Seeking Alpha